$ 1,400,000
3867 Menlo Avenue San Diego, CA 92105
Schedule a Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Maxwell Brown • Commercial Asset Advisors
$ 1,400,000
Est. payment /mo
Active
3867 Menlo Avenue San Diego, CA 92105
3,000 SqFt
UPDATED:
10/29/2024 05:03 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $466
MLS Listing ID CRPTP2406190
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1965
Lot Size 5,863 Sqft
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 (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.
Location
State CA
County San Diego
Interior
Fireplace No
Laundry Common Area
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.