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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.
PTP2406207
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
9
Garage
No
View
No
County
San Diego
Pool
No
Pool Features
None
Zoning
Estimated
Listing History
Date | Event | Price |
|---|---|---|
10/22/2024 | Active | — |
Listed by Commercial Asset Advisors, ,
Listing Contact: 925-872-6746
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Data last updated 1:15 AM UTC, 10/22/2024
