7940 University Avenue 22, La Mesa, California 91942, La Mesa, 91942 - 2 bed, 2 bath
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7940 University Avenue 22
La Mesa, California 91942
ACTIVE
CONDITION: GOOD
2Beds
2Baths
990Sq Ft
81,021.602Lot Size
Property Price
LIST PRICE$525,000
EST. MARKET VALUE
$505,411
3% AboveMARKET VALUE
SUMMARY
This 2-bedroom condominium represents a High-Potential Investment Opportunity, listed at $525,000—positioned slightly above the $505,412 Fair Market Value. While the price reflects current market stability, the property offers a unique financial advantage through an Assumable VA Loan and creative financing potential. Featuring a Condition Rating of 3 with modern updates, this unit includes Central A/C, In-Unit Laundry, and Pool Access. Its central location near SDSU and major freeways makes it a strategic asset for Buy-and-Hold Investors or first-time buyers seeking a move-in ready home.
Estimated Market Value
$505,411
Based on Realkey algorithm analyzing recent comparable sales in La Mesa.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7940 University Avenue 22 Subject | $525,000* List Price | 2 | 2 | 990 | $511 | - |
A 5470 Baltimore Dr 20 Sold | $625,000 | 2 | 2 | 1,051 | $595 | 1.0 mi |
B 4800 Williamsburg Lane 236 Sold | $462,500 | 2 | 2 | 995 | $465 | 0.5 mi |
C 5359 Aztec 26 Sold | $629,000 | 2 | 2 | 1,263 | $498 | 0.9 mi |
D 5350 Baltimore Drive Unit 47 Sold | $475,000 | 2 | 2 | 967 | $491 | 0.8 mi |
E 7780 Parkway Drive 1602 Sold | $590,000 | 3 | 2 | 1,321 | $447 | 0.7 mi |
F 4849 Williamsburg Lane 269 Active | $510,000 List Price | 2 | 2 | 1,088 | $469 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Built in 1980 but shows evidence of a cosmetic renovation within the last 5-15 years. The kitchen features refreshed cabinetry with modern hardware and updated countertops, while the living areas have newer laminate flooring. The unit includes central A/C and appears well-maintained and move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Flexible Financing Options
The property offers a rare opportunity for an assumable VA loan and creative financing options like subject-to, providing significant financial advantages in the current interest rate environment.
- Prime Central Location
Situated in the heart of La Mesa, the condo provides excellent proximity to SDSU, downtown dining, shopping, and major freeway access, making it ideal for commuters and students.
- Modern Interior Amenities
The unit is equipped with highly desirable features including central A/C, in-unit laundry, and an open floor plan, which are premium conveniences for a condo at this price point.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =81021, other record lot size in square feet = 81187.
- High Association Fees
The monthly HOA fee of $500 is a significant recurring expense that may impact the overall affordability and debt-to-income ratio for budget-conscious buyers.
- Modest School Ratings
The assigned elementary and high schools have relatively low ratings, which could be a drawback for families prioritizing top-tier educational districts.
About 7940 University Avenue 22
**ASSUMABLE VA LOAN + SUBJECT-TO / CREATIVE FINANCING OPPORTUNITY!**Ask about the opportunity to assume the seller’s existing VA loan or potential subject-to and creative financing options, subject to seller approval and applicable loan requirements. Welcome to this charming 2-bedroom, 1.5-bath two-story condo in the heart of La Mesa! Offering 990 sq. ft. of comfortable living space with an open floor plan, spacious bedrooms, in-unit laundry, central A/C and plenty of storage. Located in a gated community with a pool and conveniently close to Downtown La Mesa, shopping, restaurants, SDSU and major freeways. A unique opportunity with flexible financing possibilities in a convenient central location!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1980
- Lot Size
- 81,021.602 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $500.0 / Month
Neighborhood Insights
La Mesa Unified Schools
Rolando Elementary School
Grades K-6 • 1.2 mi
4/10
La Mesa Middle School
Grades 7-8 • 0.6 mi
0/10
La Mesa Arts Academy
Grades 4-8 • 0.7 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 990 | 1,005.667 |
| Lot Size | 81,021.602 | 146,258.893 |
| Price | $525.0K | $510.3K |
| Price per sq ft | $530 | $529 |
| Built year | 1980 | 1977 |
| HOA | $500.0 | $445 |
| Days on market | 18 | 52 |
Pricing History
Listed for Sale
Aug 22, 2026
$525,000
Initial Listing
Sold
Oct 21, 2024
$482,000
Public Record
Sold
Aug 15, 2008
$165,000
Public Record
Sold
Oct 21, 2005
$320,000
Public Record
Sold
Mar 12, 2003
$220,000
Public Record