3865-77 Menlo Avenue

San Diego, CA 92105

$3,975,000
Price
3
Beds
15
Baths
8,789 Sq. Ft.
$452 / Sq. Ft.
8,789
Sq. Ft.
$452
per Sq. Ft.

Description

3865-77 Menlo Ave presents the opportunity to acquire 2 Contiguous parcel Multifamily Assets in Central San Diego totaling 15 units across 3 structures on a 12,625 sqft combined lot. The assets are located in 6.5 FAR Tier 3 Complete Community Zoning, which allows for a future high-density development opportunity. 3865-71 Menlo Ave consists of 5 units: (1) detached 2 bed / 1 bath house and a quadplex of 1 bed / 1 bath units with an onsite laundry room in the rear. The parcel size is 6,375 Sqft. 3877...3865-77 Menlo Ave presents the opportunity to acquire 2 Contiguous parcel Multifamily Assets in Central San Diego totaling 15 units across 3 structures on a 12,625 sqft combined lot. The assets are located in 6.5 FAR Tier 3 Complete Community Zoning, which allows for a future high-density development opportunity. 3865-71 Menlo Ave consists of 5 units: (1) detached 2 bed / 1 bath house and a quadplex of 1 bed / 1 bath units with an onsite laundry room in the rear. The parcel size is 6,375 Sqft. 3877 Menlo consists of 10 units: (8) 1 bed / 1 baths & (2) 2 bed / 1 baths. The parcel size is 6,250 sqft. Both assets are turnkey with additional upside at an in-place cap rate averaging 4.52% or a 4.76% cap rate if rent increases were provided to the immediately viable units. For an investor looking to further maximize returns, lightly renovated units could achieve a proforma cap rate of 5.84%. The asset includes 15 on-site parking spaces providing for a desirable 1 parking space per unit. An additional 5 tandem parking spaces could be achieved if the fence was pushed back on 3865-71 Menlo Ave
  1. Listed by Maxwell Brown • DRE #02127395 • Brokerage DRE #02077455 • Commercial Asset Advisors • mbrown@caacre.com

Property Details for 3865-77 Menlo Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
15.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
8789
Assessor Parcel Number
471-591-05-00
Property Attached YN
true
LISTING UPDATED: 12/04/2024 08:19 AM

Property Details for 3865-77 Menlo Avenue

StatusActive
MLS #PTP2405741
Days on Market89
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.29 AC / 12,625 SF
CountySan Diego County

Building Information for 3865-77 Menlo Avenue

Stories2Residences-Year Built1964Building Size-Lot Size0.29 AC / 12,625 SF

Property Information for 3865-77 Menlo Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $309,084
  • Gross Scheduled Income: $309,084
  • Net Operating Income: $187,575
  • Cap Rate: 4.72
Expense Details
  • Operating Expense: $110,691
  • New Taxes Expense: $49,050
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $110,691
Tax / Assessment Info
  • Tax Tract Number: 471-59
  • Tax Lot: 471-591-32
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: street
  • Fence: No
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 471-591-32
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,550
  • Unit Type Total Rent: $1,550
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,114
  • Unit Type Total Rent: $2,114
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 2

Property History for 3865-77 Menlo Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3865-77 Menlo Avenue

This home is within San Diego Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 12
Rating
School
Distance
Rosa Parks Elementary School
PublicK to 5

Clark Middle School
Public6 to 8

Hoover High School
Public9 to 12

City Heights Preparatory Charter
Charter6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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3865-77 Menlo Avenue is a multi-family home for sale in San Diego, CA 92105. This property was listed for sale on September 14, 2024 by Commercial Asset Advisors, it's currently listed at $3,975,000. This listing's school district is San Diego Unified School District. Nearby schools include Rosa Parks Elementary School, Clark Middle School and Hoover High School. 3865-77 Menlo Avenue is a 3-bed, 15-bath, 8,789 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Commercial Asset Advisors, Maxwell Brown, DRE #02127395

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