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  • MLS#: PTP2407391 ( )
  • Street Address: 3867 Menlo Avenue
  • Viewed: 1
  • Price: $1,400,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2000
  • Bldg sqft: 0
  • Days On Market: 200
  • Additional Information
  • County: SAN DIEGO
  • City: San Diego
  • Zipcode: 92105
  • Provided by: Commercial Asset Advisors
  • Contact: Maxwell Maxwell
  • California Regional MLS IDX
  • DMCA Notice
  • 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! Roughly half of the units possess light interior updates while the other half are in unrenovated condition. 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.
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Features
Assessments
  1. Buyer to Verify
Association Fee
  1. 0.00
Building Area Total
  1. 3000.00
Common Walls
  1. 1 Common Wall
Entry Location
  1. street
Garage Spaces
  1. 0.00
Insurance Expense
  1. 4500.00
Laundry Features
  1. Common Area
Lot Features
  1. 21-25 Units/Acre
Netoperatingincome
  1. 69408.00
Newtaxesexpense
  1. 17429.00
Parcel Number
  1. 4715910500
Pool Features
  1. None
Professionalmanagementexpense
  1. 5154.00
Sewer
  1. Public Sewer
Sourcesystemkey
  1. 400082103:CRP
Totalexpenses
  1. 33672.00
Trash Expense
  1. 0.00
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/crmls/PTP2407391
Water Sewer Expense
  1. 0.00
Year Built
  1. 2000
Zoning
  1. Residential Multifamily