3867 Menlo Avenue
San Diego, CA 92105
0.13 acres | #PTP2406190
Description
3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (1) Studio, (3) 1 Bedrooms / 1 Bath, 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 still 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! The property produces a strong $110,124 Gross Scheduled Income with a Net Operating income of $73,136 with an immediately available rent increase yielding an above market true 5.22% 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.
Property Details
- Lot DescriptionTwentyOneToTwentyFiveUnitsAcre
- Stories2
Measurements
- Acres0.1346
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1965
Utilities / Energy Details
- Sewer InformationPublicSewer
Community and Neighborhood Details
- CountySan Diego
Financial Details
- Original List Price$1,400,000
Other
- MLS #PTP2406190
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Maxwell Brown (#818479)
Listing Office: Commercial Asset Advisors (#87970)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
