3867 71 Menlo AVE Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92105
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2406207
Year Built 1965
Lot Size 5,863 Sqft
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 (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.
Location
State CA
County San Diego
Area 92105 - East San Diego
Zoning Multifamily
Interior
Laundry Common Area
Exterior
Pool None
Community Features Curbs
View Y/N No
Building
Lot Description 36-40 Units/Acre
Story 2
Sewer Public Sewer
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard