3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (4) 1 Bedrooms / 1 Bath units, 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 currently 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 $111,306 Gross Scheduled Income with a Net Operating income of $77,284 with an immediately available rent increase yielding an above market true 5.54% 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.
PropertiesMorgan Scott2024-05-10T12:24:32+00:00
Property Description
Features
: N/K
Address Map
US
CA
SD
San Diego
92105
Menlo Avenue
3867
W118° 54' 21.6''
N32° 44' 56.2''
GPS
Estimated
Additional Info
Commercial Asset Advisors
Maxwell Brown
Additional Information
5
2
Listing Information
CRP-818479
CRP-87970
Conventional
ACTIVE
2025-05-22T10:34:31Z
sdmls_new
3 Bedrooms
2 Bathrooms
$1,395,000
Listing ID #PTP2503727
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : PTP2503727
Price : $1,395,000
Bedrooms : 3
Bathrooms : 2
Status : Active
Property Sub Type : Res Income 2-4 Units
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