Homes for sale - 3867 Menlo AVE, San Diego, CA 92105

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Candice Blair

candice@candiceblairgroup.com +1(949) 466-0620

$ 1,399,000

Est. payment -/mo

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Price Dropped by $1K

3867 Menlo AVE San Diego, CA 92105

3,000 SqFt

UPDATED:

11/21/2024 04:23 AM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,000 sqft

Price per Sqft $466

MLS Listing ID PTP2406190

HOA Y/N No

Year Built 1965

Lot Size 5,863 Sqft

Acres 0.1346

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, 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.

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning Multifamily

Interior

Laundry Common Area

Exterior

Pool None

Community Features Curbs

Private Pool No

Building

Lot Description 21-25 Units/Acre

Story 2

Sewer Public Sewer

Others

Senior Community No

Special Listing Condition Standard

Confidential INFO

TERMS Conventional

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

PRIVATE REMARKS Based on permits, this is how units were originally built. However, it appears previous ownership acquired a building permit to combine two downstairs units into one large 4 bedroom unit, then reverted back. Buyer to verify their own research and opinion Referenced building permits to consolidate building into a 4 Unit attached

SHOW CONTACT TYPE Agent

SHOW INSTRUCTIONS Shown with an accepted offer

Listed by Commercial Asset Advisors

Candice Blair

Broker Associate | License ID: 01395953 ‌

+1(949) 466-0620

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