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$1,399,000

Beds
Unknown
sq ft
Unknown

3867 71 Menlo Avenue, San Diego, CA 92105

3867 71 Menlo Avenue

San Diego, CA 92105

  • 45 days on market
    • Price drop $1,000↓
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.

Details

Property type

Lot size

5,863 sq ft

Price per sq ft

Unknown

Year built

1965

HOA

No

Price History

11/19/2024
CRMLS

CRMLS #PTP2406207

Price change
$1,399,000
-0.07%
10/21/2024
CRMLS

CRMLS #PTP2406207

Listed
$1,400,000
10/18/2024
CRMLS

CRMLS #PTP2406207

Pending
$1,400,000

Schools & Community

Neighborhood: 

Fairmount Village

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs

Status: Active

Tomo last checked: 11/22/2024 at 10:35 AM

Listing updated: 11/18/2024 at 5:05 PM

Listed by: Maxwell Brown, Commercial Asset Advisors Phone #: (858) 360-3000

MLS: CRMLS #PTP2406207

CRMLS logo

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