MIRA MESA PROPERTY MANAGEMENT

ABOUT MIRA MESA

Mira Mesa is a small suburb east of Sorrento Valley and north of the Miramar Marine Corps Air Station. There are plenty of single-family homes and apartments in the area, both of which cost less than other suburbs of San Diego.

Miramar College, a popular community college, is located here. There are over 22,000 students seeking degrees in over 160 subjects. A short drive away, you’ll find Mira Mesa high school, home of the marauders. Because Mira Mesa is primarily residential, there are many shopping centers and strip malls. For some family fun, check out Mira Mesa Lanes. It’s a great spot for birthday parties as well as late night bowling. There are also great breweries in the area. Visit Green Flash Brewing and Ballast Point Miramar for some of San Diego's best local beer. 

Mira Mesa Home Prices

These are the stats for October 2021 and are the year to date numbers. For monthly stats, visit the San Diego Association of Realtors website

Mira Mesa 92126 Single Family Home: $831,000

Mira Mesa 92126 Condos: $471,000

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The map above shows the pricing across Mira Mesa. The darker areas are higher in price and the lighter areas are more affordable areas. 

Mira Mesa Rental Rates 

Mira Mesa has a good mix of apartments, condos, and single family homes, The average single family home will rent for about $2,800. The average condo is around $2,150 and one bedroom units are closer to $1,700. 

MIRA MESA PROPERTY TOUR

Pros of Investing in Mira Mesa

There is year-round high rental demand due to affordability and split proximity to major employment hubs of Sorrento Valley and Rancho Bernardo. Affordable condos with reasonable HOA fees can be found here as well. 

Cons of Investing in Mira Mesa

Mira Mesa consists of mostly older properties. They will likely have deferred maintenance needed, so you'll need to budget for increased capital expenditure. There's a competitive sales market here so you will likely pay full retail value or higher for a home. 

Sample Deals in Mira Mesa 

10272 Maya Linda Rd #150 - Full Deal Report 

  • $369,000 purchase price ($84, 870 cash needed) 
  • -$464/month cash flow 
  • 3.1% cap rate
  • -6.6% COC 

Both condos and detached houses rent quickly in Mira Mesa and the couple of units we manage in this complex are no exception. Though we have found the layouts for attached units in Mira Mesa to be among the most "creative" in San Diego (like this 2B/1.5BA split level with a narrow profile and vaulted second floor ceilings), they always rent in a week or two. That's not surprising considering the property is just off of I-15 and is within a half mile of five large schools and Miramar College!

10856 Eberly Court - Full Deal Report 

  • $635,000 purchase price ($146,050 cash needed) 
  • -$1,213/month cash flow 
  • 2.3% cap rate 
  • -10% COC

North of Mira Mesa Blvd sits a massive neighborhood with fittingly massive detached houses and lots. The streets also have a fun mythological motif like Pegasus, Centaurus, and Hydra. Though this property does not boast a fun street name or huge square footage, it is one of the more affordable houses in this sought after pocket of Mira Mesa. The monthly cash flow from these types of properties are not great due to their price points but their central location will make them a reliable asset in the long-term.

WHAT TO AVOID IN Mira Mesa NEIGHBORHOODS

When choosing where to buy your investment property, you should be on the lookout for a few things. These things can be a red flag for the kind of area you want to avoid. 

  • Trash in the front or backyard 
  • Vandalism nearby (graffiti, damaged property, etc.) 
  • Multiple vacant homes close by 
  • Poor street light; street feels unsafe
  • Backs up or is close to a major highway or freeway 
  • Foundation issues 

 

Mira Mesa Property Management

Good Life Property Management has become experts in Mira Mesa property management over the last 7 years. As a result, we know how to effectively market and manage your Mira Mesa home. We find that days on market are average when compared to other areas and vacancy is about average as well. Mira Mesa property management can be challenging, but doesn’t have to be with Good Life.

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