Active
3867 Menlo Avenue
San Diego CA, 92105
$1,400,000
$466.67 per sqft
Active
3,000 sqft
Residential
Built in 1960
Listed by Maxwell Brown with Commercial Asset Advisors [email protected]
3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (4) 1 Bedrooms / 1 Bath units, and a laundry room. The property is legally a 4 unit on tax records and title, but was built as a 5 unit and is currently operating as a 5 unit. This rare scenario provides a new buyer the opportunity to achieve 30 year fixed residential financing while receiving income from 5 original construction units! Roughly half of the units possess light interior updates while the other half are in unrenovated condition. The property produces a strong $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% Cap Rate. A savvy investor may elect to renovate units to achieve even higher rents. The property is well-parked with 5 off-street spaces with the potential to add 5 additional tandem spaces.
PTP2407393
MLSⓇ ID
December 4, 2024
Listed
December 5, 2024
Updated
Map
3867 Menlo Avenue
San Diego CA, 92105
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.13 Acres
Lot Features
21-25 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
92105 - East San Diego
Garage
No
Parking Total
0
View
No
County
San Diego
Pool
No
Pool Features
None
Zoning
Residential Multifamily
Listing Contact: 858-360-3000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/5/2024 at 7:29 AM UTC