Executive Summary
Berkadia is pleased to present The Flats, a newly renovated, apartment community in La Mesa, a centrally located suburb of San Diego County.
The Flats is one of the latest additions to La Mesa’s desirable multifamily market. The property’s recently renovated units combined with its modern amenities and easy access to urban conveniences fosters a vibrant environment for young professionals, students, and newcomers seeking a dynamic lifestyle. The property has been thoroughly transformed from a hotel establishment to a stunning asset featuring full one-bedroom, one-bathroom units that maximize space and include high-quality finishes.
Ideally positioned by the I-8 freeway, The Flats offers residents ideal connectivity to major employment centers and a wide range of neighborhood amenities – including retail, school, and public transit. The Flats is located just six minutes from the 925,000 sq. ft. Grossmont Center and just four minutes from the bustling La Mesa Village, known for its local boutiques, restaurants, and the historic La Mesa Depot.
The Flats presents a unique opportunity for investors to acquire a thoughtfully renovated apartment community in one of San Diego’s most appealing suburban areas.
Investment Highlights
Stylish Revitalization
Welcome to The Flats, where modern design meets thoughtful revitalization. This newly transformed property, once a classic motel, now features stylish, contemporary apartments with premium finishes. Each unit is equipped with stainless steel appliances, quartz countertops, air conditioning, and recessed lighting, all designed to elevate the living experience. Residents can enjoy a vibrant community atmosphere with a range of amenities, including a sparkling pool and spa, state-of-the-art fitness center, community rec room, a brand-new laundry facility and ample parking.
Vibrant Neighborhood with Abundant Amenities
Nestled in the heart of La Mesa, this property offers residents unparalleled access to an array of dining, shopping, and entertainment options. With a walk score of 80, you’ll find a diverse selection of locally owned restaurants, trendy cafés, and convenient retail stores. The bustling La Mesa Village, only a short drive from the asset, features charming boutiques, artisanal shops, and a variety of eateries that cater to every palate. The area also boasts beautiful parks and outdoor spaces, perfect for recreation and relaxation. Additionally, the nearby Grossmont Center provides a dynamic shopping experience with popular retailers and a multiplex theater. With its friendly atmosphere La Mesa’s vibrant community spirit is the ideal setting for a fulfilling lifestyle.
Proximity to Key Employment Hubs
La Mesa is a tranquil suburb that perfectly balances peace and convenience. Known for its friendly neighborhoods and lush green spaces, this community offers a relaxed lifestyle while still providing plenty of activities and amenities. Residents can explore local parks, enjoy weekend farmers’ markets, and indulge in a variety of dining options from cozy cafés to eclectic restaurants. With its inviting charm and central location, living in La Mesa means enjoying the best of both worlds; a serene suburban life with everything you need out of San Diego just a stone’s throw away. La Mesa’s Central location allows easy access to nearby attractions, including downtown San Diego, beautiful beaches, and the mountains for outdoor adventures, all within a short commute. The area’s strong sense of community, coupled with a growing job market and excellent public transportation options, makes it an ideal place for young professionals looking to thrive.
Significant Discount to Homeownership
Residents of The Flats enjoy the luxury of living in one of California’s most expensive Counties for a fraction of the cost of owning a home. With the average single family home sales price in La Mesa (91942 zip code) of $775,833, the estimated monthly homeownership cost is a staggering $4,990. Residents can save nearly $2,895 per month ($4,990 per month to own, vs $2,095 per month to rent) by renting a newly renovated unit in The Flats.
Stylish Revitalization
Vibrant Neighborhood with Abundant Amenities
Central to San Diego’s Largest Employment Hubs
Significant Discount to Homeownership
One of the Strongest Performing Rental Markets in San Diego
Location Overview
La Mesa, CA
Prime Location within La Mesa
The Flats resides in La Mesa, which has charming small-town atmosphere and rich history. Nestled in the foothills of the San Diego mountains, La Mesa boasts attractions like the historic downtown village, featuring a variety of shops, restaurants, and the popular La Mesa Farmers Market. The area also offers a wealth of family-friendly outdoor activities, including the serene Lake Murray, Mt. Helix Park, and the impressive views from Cowles Mountain. The local economy is supported by a mix of local businesses, retail, and a growing craft beer scene, and the community is known for its friendly neighborhoods and family-oriented events, such as the annual Oktoberfest celebration.
Outstanding Accessibility
Whether you prefer to walk, drive, or ride, The Flats exemplifies transit-oriented living with plenty of walkable retail and recreational options. Just a short distance from the La Mesa Blvd Transit Station, residents enjoy easy access to the MTS Orange and Green lines, connecting them to Mission Valley, Downtown, UTC, and more. Additionally, The Flats is conveniently located next to the I-8 freeway allowing quick connections to San Diego’s major entertainment and employment centers.
$890k+
Median Home Sale Price
27.7K+
Population
14,099
FTE Employees
59%
Rentorship Rate
$86,463
Median Household Income
69%
White-Collar Workers
Within a one-mile radius of The Flats
Photo Gallery
Contact Us
San Diego Office
4275 Executive Square
Suite 700
La Jolla, CA 92037
INVESTMENT SALES
Tyler Sinks
Managing Director
619.890.8486
[email protected]
Lic# 01910220
Ed Rosen
Managing Director
858.342.0700
[email protected]
Lic# 01010225
John Chu
Managing Director
619.990.5200
[email protected]
Lic# 00966982
John Cunningham
Senior Managing Director
602.625.7476
[email protected]
AZ License #BR034840000
Charles Steele
Senior Managing Director
602.319.5007
[email protected]
AZ License #SA645142000
Jared Glover
Managing Director
602.526.4800
[email protected]
NV License #B.0144864
Mortgage Banking
Lee Scott
Senior Director
CA RE#02197126
858.257.4705
[email protected]
Clay Akiwenzie
Managing Director
775.447.0595
[email protected]
Hank Workman
Associate Director
805.231.9492
[email protected]
A 42-UNIT MULTIFAMILY OFFERING IN LA MESA, CA
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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