Active
3867 Menlo Avenue
East San Diego CA, 92105
$1,400,000
Active
3 Beds
Multi-family
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.
PTP2406190
MLSⓇ ID
October 8, 2024
Listed
October 22, 2024
Updated
Map
3867 Menlo Avenue
East San Diego CA, 92105
Interior Features
Total Stories
2
Bedrooms
3
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.13 Acres
Lot Features
Curbs
Other Property Details
Days on Market
10
Garage
No
View
No
County
San Diego
Pool
No
Pool Features
None
Zoning
Estimated
Listing History
Date | Event | Price |
---|---|---|
10/22/2024 | Active | — |
10/19/2024 | Pending | — |
Listed by Commercial Asset Advisors, ,
Listing Contact: 925-872-6746
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Data last updated 1:15 AM UTC, 10/22/2024