3867 71 Menlo Avenue
San Diego, CA 92105
$1,000.00 (-0.07%)
Active for $1,399,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 5,863 sqft
| MLS | PTP2406207 |
| Year Built | 1965 |
| Property Type | |
| County | San Diego |
| Status | Active |
| Active | $1,399,000 |
| Structure Size | N/A sqft |
| Lot Size | 5,863 sqft |
| Beds | N/A |
| Baths |
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, 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 $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% 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.
Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors 925-872-6746. *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Carol Varady
REALTOR®
Direct: 818.919.5521
Email: Email Me
DRE: 01950162
DRE #01873088
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