6927 Waite Dr, La Mesa, California 91941, La Mesa, 91941 - 3 bed, 1 bath
ACTIVE$835,000$1,056/sqft
Est. Value: $776,151
-7%
AboveEstimate
6927 Waite Dr, La Mesa, California 91941
3Beds
1Bath
1,056Sqft
7,732Lot
Price Vs. Estimate
The estimated value ($776,150.54) is $58,849.46 (7%) lower than the list price ($835,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7732, living area = 1056.
Top Cons:
Extensive Construction Required: While permitted, the project requires substantial capital outlay and construction management to build out the four units, making it unsuitable for buyers seeking a ready-to-occupy property.
Compared to the nearby listings
Price:$835.0K vs avg $1.09M ($-254,000)23%
Size:1,056 sqft vs avg 1,995 sqft10%
Price/sqft:$791 vs avg $55493%
More Insights
Built in 1953 (73 years old).
Condition: The property, built in 1953, is explicitly marketed as an 'investor's special' due to its development potential, with the existing structure described as 'outdated' and 'not move-in ready.' Images confirm this, showing an extremely dated kitchen with original-style wood cabinets, tiled countertops, and vintage yellow appliances. The bathroom features pink walls, tiled vanity, and worn flooring, indicating no significant updates in decades. Flooring throughout includes worn carpet and hardwood that appears to need refinishing. The overall condition requires substantial repairs and rehabilitation, making it very uncomfortable to live in its current state, aligning with the 'poor' classification.
Year Built
1953
Close
-
List price
$835K
Original List price
$835K
Price/Sqft
$791
HOA
-
Days on market
-
Sold On
-
MLS number
2600946SD
Home ConditionPoor
Features
Good View:
Patio
View
About this home
Hurry it won't last. Investor's special. Prime lot already permitted for 4 units. Two three bedrooms/2bath in front & two 2 bedrooms/2baths in the rear. Seller has complete all the requirements for the total permit. Close escrow and start building. Listing agent has all the information and the drawings for all 4 units. Great location close to 94 freeway and Lemon grove newest shopping center. The upstairs units should have panoramic views. You will keep the original house and add a bathroom. 2nd unit on top of the original house. The total square footage after the buildings are completed will be about 4950 sq.ft.
S
Saied Mojabi
Listing Agent
Condition Rating
Poor
The property, built in 1953, is explicitly marketed as an 'investor's special' due to its development potential, with the existing structure described as 'outdated' and 'not move-in ready.' Images confirm this, showing an extremely dated kitchen with original-style wood cabinets, tiled countertops, and vintage yellow appliances. The bathroom features pink walls, tiled vanity, and worn flooring, indicating no significant updates in decades. Flooring throughout includes worn carpet and hardwood that appears to need refinishing. The overall condition requires substantial repairs and rehabilitation, making it very uncomfortable to live in its current state, aligning with the 'poor' classification.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7732, living area = 1056.
Permitted Multi-Unit Development: The property boasts pre-approved permits for a 4-unit development (two 3-bed/2-bath and two 2-bed/2-bath units), significantly de-risking and accelerating the investment process for a developer.
Strategic Location: Situated in La Mesa, the property offers excellent proximity to the 94 freeway and a new shopping center, enhancing future rental appeal and property value.
Potential for Panoramic Views: The proposed upstairs units are projected to offer panoramic views, a highly desirable amenity that can command premium rents or sale prices upon completion.
High Return on Investment Potential: The transformation from a single-family home to a 4-unit complex with a total of approximately 4950 sq.ft. presents a substantial opportunity for capital appreciation and rental income.
Large Developable Lot: A generous 7732 sqft lot provides ample space for the proposed multi-unit construction while incorporating the original structure.
Cons
Extensive Construction Required: While permitted, the project requires substantial capital outlay and construction management to build out the four units, making it unsuitable for buyers seeking a ready-to-occupy property.
Outdated Existing Structure: The original 1953-built home is likely outdated and will require significant renovation or integration into the new development, adding to overall project costs and complexity.
Not Move-In Ready: The property is explicitly an 'investor's special' and not suitable for immediate residential occupancy, limiting the buyer pool to developers or seasoned investors.