Apartments on Mohawk in La Mesa sold for $7.6 million

June 17, 2024 – Our town took a magical trip down memory lane today. The Model T Ford Club of America rolled into town for their 2024 National Tour. 

Dozens of these magnificent Model T’s lined our streets. It felt like stepping back in time.

The visitors took a stroll through our town’s rich history, from the old Lakeside Inn, the Auto Speedway route, made famous by racing legend Barney Oldfield, to our charming historic buildings and homes.

The Lakeside Historical Society opened their doors, welcoming everyone to explore the chapel, museum, Gift Shop, and the Speedway monument. It was a little slice of the past brought back to life.

Their visit was short, but the memories will last a lifetime. A huge thank you to the Model T Ford Club of America for stopping by and making the day in our hometown so special.

The Palms of La Mesa, a 78-unit apartment complex at 7481 and 7487 Mohawk Street in La Mesa, has been sold for $7,683,000 million to a limited liability company named The Palms of La Mesa Apartments. The buyer was The Palms of La Mesa Apartments LLC of Rancho Santa Fe. Jupiter Capital Group LLC is the manager of The Palms, and Jonathan Lampitt is the manager of Jupiter. Andrew Gilligan of JPMorgan Chase Bank (NYSE: JPM) provided financing of $5.75 million. The sellers of the property were Blue Corner Capital LLC (50 percent); Monroe Trust, with Keith B. Monroe and Beverly W. Monroe as trustees (20 percent); and James Robert Purdy (30 percent). The buyer was represented by Peter Scepanovic and Corey McHenry, of Colliers International. The sellers were represented by Rita Lancaster-Hannah, also of Colliers.
The gated property consists of two adjacent parcels of two-story buildings with 38 and 40 units constructed in 1969 and 1970. Amenities include covered and open parking, two pools and balconies. The unit mix consists of 32 one bedroom units at 575 square feet; 23 one-bedroom units at 805 square feet; eight two-bedroom, one-bath units at 775 square feet; eight two-bedroom, two-bath units at 945 square feet and seven three-bedroom, three-bath units at 1,125 square feet. In early 2004, the property was sold for $7.72 million.