3867 71 Menlo Avenue

San Diego, CA 92105 Active for $1,400,000
 


Beds: N/A  Baths:   Structure Size: N/A sqft  Lot Size: 5,863 sqft


Property Facts
MLS PTP2406207
Year Built 1965
Property Type
County San Diego
Status Active
Active $1,400,000
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 (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.

Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors 925-872-6746. *Based on information from the Association of REALTORS/Multiple Listing as of 11/13/2024 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



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