3867 Menlo Avenue, San Diego, CA 92105
-
Listed Price :
$1,400,000
-
Beds :
N/A
-
Baths :
-
Property Size :
N/A sqft
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Year Built :
1960
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! 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.
Interior Features
| Laundry Information |
| Location(s) |
Common Area |
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
3867 Menlo Avenue |
| City |
San Diego |
| State |
CA |
| Zip |
92105 |
| County |
San Diego |
| Listing Agent |
Maxwell Brown DRE #02127395 |
| Courtesy Of |
Commercial Asset Advisors |
| List Price |
$1,400,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
N/A |
| Lot Size |
5,863 |
| Year Built |
1960 |
Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 4:15 AM 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.
