$1,400,000
- Beds
- Unknown
- sq ft
- Unknown
3867 71 Menlo Avenue, San Diego, CA 92105
3867 71 Menlo Avenue
San Diego, CA 92105
- 37 days on market
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
10/21/2024
CRMLS #PTP2406207
Listed
$1,400,000
10/18/2024
CRMLS #PTP2406207
Pending
$1,400,000
10/08/2024
CRMLS #PTP2406207
Listed
$1,400,000
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: 11/13/2024 at 8:15 PM
Listing updated: 11/06/2024 at 5:00 PM
Listed by: Maxwell Brown, Commercial Asset Advisors Phone #: (858) 360-3000
MLS: CRMLS #PTP2406207
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