3867-71 Menlo Avenue
$1,400,000
3
5
3,000
3,000
$467
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...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.
- Listed by Maxwell Brown • DRE #02127395 • Brokerage DRE #02077455 • Commercial Asset Advisors • mbrown@caacre.com
Property Details for 3867-71 Menlo Avenue
Parking Spaces Total
0
Private PoolNo
Total Units4.0
Building TypeAttached
Lot Size SourceAssessor
Living Area3000
Assessor Parcel Number471-591-05-00
Property Attached YNtrue
LISTING UPDATED: 10/28/2024 07:47 AM
Property Details for 3867-71 Menlo Avenue
Status | Active |
---|---|
MLS # | PTP2406190 |
Days on Market | 36 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1965 |
Lot Size | 0.13 AC / 5,863 SF |
County | San Diego County |
Building Information for 3867-71 Menlo Avenue
Stories2Residences-Year Built1965Building Size-Lot Size0.13 AC / 5,863 SF
Property Information for 3867-71 Menlo Avenue
Property History for 3867-71 Menlo Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 3867-71 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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.