3865 77 Menlo Avenue

San Diego, CA 92105

PRICE REDUCED

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-$1 (-0.00%)

$3,974,999

List Price

N/A

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1964

calendar_month Built

Property Description

3865-77 Menlo Ave presents the opportunity to acquire 2 Contiguous parcel Multifamily Assets in Central San Diego totaling 15 units across 3 structures on a 12,625 sqft combined lot. The assets are located in 6.5 FAR Tier 3 Complete Community Zoning, which allows for a future high-density development opportunity. 3865-71 Menlo Ave consists of 5 units: (1) detached 2 bed / 1 bath house and a quadplex of 1 bed / 1 bath units with an onsite laundry room in the rear. The parcel size is 6,375 Sqft. 3877 Menlo consists of 10 units: (8) 1 bed / 1 baths & (2) 2 bed / 1 baths. The parcel size is 6,250 sqft. Both assets are turnkey with additional upside at an in-place cap rate averaging 4.49% or a 4.72% cap rate if rent increases were provided to the immediately viable units. For an investor looking to further maximize returns, lightly renovated units could achieve a proforma cap rate of 5.80%. The asset includes 15 on-site parking spaces providing for a desirable 1 parking space per unit. An additional 5 tandem parking spaces could be achieved if the fence was pushed back on 3865-71 Menlo Ave

Listing Information

List Price $3,974,999
Status Active
MLS PTP2405741
HOA $0
Type Residential Income
Year Built 1964
Lot Size 12,625
Structure Size N/A
DOM 39
Courtesy Of Commercial Asset Advisors
Listing Agent Maxwell Brown DRE#02127395

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A

Exterior Information

Maps

Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors 925-872-6746. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 28th, 2024 at 9:47 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.