Apartment Realty Group sells 5-unit La Mesa property for $1.525M

By AI, Created 5:05 PM UTC, May 18, 2026, /AGP/ – Apartment Realty Group represented the buyer in the sale of a 5-unit multifamily property at 4869-71 Pine Street in downtown La Mesa for $1,525,000. The deal highlights continued investor interest in value-add housing near one of San Diego County’s strongest rental markets.

Why it matters: - The sale reflects demand for small multifamily properties in downtown La Mesa, where rental demand remains strong. - The buyer used the property as a 1031 exchange replacement, trading out of a single-family house to increase cash flow and equity. - The asset offers value-add potential in a walkable area near shops and restaurants.

What happened: - Apartment Realty Group represented the buyer in the sale of a 5-unit multifamily property at 4869-71 Pine Street, La Mesa, CA 91942. - The property closed for $1,525,000 on May 13, 2026. - James Carter, Senior Managing Broker/Partner, and Angelo La Bruna, Senior Vice President, handled the transaction.

The details: - The property includes one detached 2-bedroom, 1-bath house. - The building also includes four 1-bedroom, 1-bath units. - The site sits on a 6,946-square-foot lot with 2,759 square feet of total building footprint. - Tenant amenities include an onsite laundry facility and ample off-street parking. - The property is short walk from Downtown La Mesa shops and restaurants. - La Bruna said the Pine Street property was the right replacement asset for a client completing a 1031 exchange.

Between the lines: - The transaction underscores continued investor appetite for smaller apartment assets with upside in established East County submarkets. - The 1031 exchange structure suggests the buyer prioritized deferring taxes while moving into an income-producing asset with more scale than a single-family home. - Proximity to walkable retail and transit-friendly amenities can support rent growth and occupancy over time.

What’s next: - The new owner is expected to pursue rental income growth through value-add improvements and leasing strategies. - La Mesa’s downtown location and limited supply of small multifamily properties may keep investor competition elevated. - Apartment Realty Group is likely to continue targeting similar multifamily sales across San Diego County.