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  • MLS#: PTP2407393 ( )
  • Street Address: 3867 Menlo Avenue
  • Viewed: 2
  • Price: $1,400,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1960
  • 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
Electric Expense
  1. 0.00
Entry Location
  1. Street
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Insurance Expense
  1. 0.00
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
Sewer
  1. Public Sewer
Sourcesystemkey
  1. 400082107:CRP
Totalexpenses
  1. 33672.00
Trash Expense
  1. 0.00
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/crmls/PTP2407393
Water Sewer Expense
  1. 0.00
Year Built
  1. 1960
Year Built Source
  1. Estimated
Zoning
  1. Residential Multifamily