3867-3871 Menlo Ave - Apartments FOR SALE


San Diego, CA 92105- Fairmont Village
$1,395,000 USD
925-872-6746
3867-3871 Menlo Ave, San Diego, CA for Sale
$1,395,000 USD
Apartments - FOR SALE
1/23
null | 5.54% Cap Rate

3867-3871 Menlo Ave
San Diego, CA 92105
Fairmont Village


HIGHLIGHTS

  • 30 Year Residential Financing Available
  • Detached 2 Bedroom House with yard + Fourplex
  • 5 Parking Space + potential for 5 additional Tandem Spaces
  • Notable Upside in Rents with further renovations
  • Low Density 5 units on a full size lot

OVERVIEW

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 originally 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! Permits on hand for additional details. The property produces a strong $111,306 Gross Scheduled Income with a Net Operating income of $77,284 with an immediately available rent increase yielding an above market true 5.54% Cap Rate. A savvy investor may elect to renovate units to achieve full market renovated rents of $131,400 annual. The property is well-parked with 5 off-street spaces with the potential to add 5 additional tandem spaces.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$465 USD /SF

# OF UNITS

5

PRICE/UNIT

$279,000

CAP RATE

5.54%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R4

APN/PARCEL ID

471-591-05

ASK ABOUT THIS PROPERTY

Maxwell BrownCommercial Asset AdvisorsMore Info
925-872-6746

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Maxwell BrownCommercial Asset AdvisorsMore Info
925-872-6746

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.