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$3,975,000

Beds
3
sq ft
Unknown

3865 Menlo Ave, San Diego, CA 92105

3865 Menlo Ave

San Diego, CA 92105

  • 100 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

Unknown

Price History

12/06/2024
SanDiego

SanDiego #PTP2405741

Price change
$3,975,000
10/17/2024
SanDiego

SanDiego #PTP2405741

Price change
$3,974,999
09/14/2024
SanDiego

SanDiego #PTP2405741

Listed
$3,975,000

Schools & Community

Neighborhood: 

Fairmount Village

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Status: Active

Tomo last checked: 12/22/2024 at 4:55 PM

Listing updated: 12/06/2024 at 9:46 AM

Listed by: Maxwell R Brown, Phone #: (858) 360-3000

MLS: SanDiego #PTP2405741

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