The mixed use property located at 7735 University Ave in La Mesa, CA has sold for $700,000. Erik Egelko of SVN Asset Advisory Group represented both the buyer and seller in the transaction.
The new owner plans to pursue entitlements utilizing the City of La Mesa’s existing “Mixed-Use Development Overlay”. The tentative plan calls for 6 studio units of ranging in size from 350-450 square feet and (1) 1 bedroom unit of approximately 700 square feet.
Egelko commented saying, “This project benefits from its prime location on the University Avenue business corridor and is located in the heart of the rapidly appreciating West La Mesa submarket.”