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$ 1,390,000
Est. payment /mo
Price Dropped by $5K
3867 Menlo Avenue San Diego, CA 92105
3 Beds
2 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2503727
Bedrooms 3
Property Sub-Type Res Income 2-4 Units
Property Description
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, a laundry room, and 5 off-street parking spaces. 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 $107,772 Gross Scheduled Income with a Net Operating income of $79,315 yielding an above market true 5.69% Cap Rate. A savvy investor may elect to renovate units to achieve even higher rents. The contiguous 10 unit property 3877 Menlo Ave is also available for sale with the same ownership.
Location
State CA
County San Diego
Zoning Estimated
Direction GPS
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 4715910500
Listed by Maxwell Brown Commercial Asset Advisors