$3,975,000
- Beds
- Unknown
- sq ft
- Unknown
3865 77 Menlo Avenue, San Diego, CA 92105
3865 77 Menlo Avenue
San Diego, CA 92105
- 95 days on market
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 4.52% or a 4.76% 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 5.84%. 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
Details
Property type
Lot size
0.2898 acres
Price per sq ft
Unknown
Year built
1964
HOA
No
Price History
12/05/2024
CRMLS #PTP2405741
Price change
$3,975,000
10/17/2024
CRMLS #PTP2405741
Price change
$3,974,999
09/19/2024
CRMLS #PTP2405741
Listed
$3,975,000
Schools & Community
Neighborhood:
Fairmount Village
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Curbs
Community features:
Curbs
Status: Active
Tomo last checked: 12/22/2024 at 4:25 PM
Listing updated: 12/04/2024 at 4:25 PM
Listed by: Maxwell Brown, Commercial Asset Advisors Phone #: (858) 360-3000
MLS: CRMLS #PTP2405741
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