CA > San Diego
San Diego, CA 92105,3867 Menlo Avenue
San Diego, CA 92105,3867 Menlo Avenue
San Diego, CA 92105,3867 Menlo Avenue
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$1,395,000
Est. payment /mo
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3 Beds
2 Baths
5,863 Sqft Lot
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3867 Menlo Avenue San Diego, CA 92105

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Ben Ruiz

Ben Ruiz

+1(619) 733-4635

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2503727

Bedrooms 3

HOA Y/N No

Lot Size 5,863 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

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! The property produces a strong $111,306 Gross Scheduled Income with a Net Operating income of $77,284 with an immediately available rent increase yielding an above market true 5.54% 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.
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! The property produces a strong $111,306 Gross Scheduled Income with a Net Operating income of $77,284 with an immediately available rent increase yielding an above market true 5.54% 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.

Location

State CA

County San Diego

Area East San Diego (92105)

Zoning Estimated

Exterior

Parking Features Unit1:Assigned

Building

Lot Description Curbs

Story 2

Lot Size Range 4000-7499 SF

Others

Acceptable Financing Conventional

Space Rent $1,590

Listing Terms Conventional

San Diego Regional MLS (SDMLS)
Listed by Maxwell Brown • Commercial Asset Advisors

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agent

Ben Ruiz

Broker Associate | License ID: 00948586

+1(619) 733-4635

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3867 Menlo Avenue

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