3867-71 Menlo Avenue

San Diego, CA 92105

$1,400,000
Price
3
Beds
5
Baths
3,000 Sq. Ft.
$467 / Sq. Ft.
3,000
Sq. Ft.
$467
per Sq. Ft.

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.
  1. 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 Pool
No
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3000
Assessor Parcel Number
471-591-05-00
Property Attached YN
true
LISTING UPDATED: 10/28/2024 07:47 AM

Property Details for 3867-71 Menlo Avenue

StatusActive
MLS #PTP2406190
Days on Market36
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
Lot Size0.13 AC / 5,863 SF
CountySan 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

Income / Expense / Tax Details
Income Details
  • Gross Income: $110,124
  • Gross Scheduled Income: $110,124
  • Net Operating Income: $73,136
  • Cap Rate: 5.22
Expense Details
  • Operating Expense: $33,684
  • New Taxes Expense: $17,429
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $4,250
  • Professional Management Expense: $5,500
  • Trash Expense: $0
  • Water Sewer Expense: $2,606
  • Total Expenses: $33,684
Tax / Assessment Info
  • Tax Tract Number: 1147
  • Tax Lot: 1147
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: street
  • Fence: No
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 21-25 Units/Acre
  • Number Of Units: 5
  • 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: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,465
  • Unit Type Total Rent: $1,465
  • Unit Type Pro Forma: 1650
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,697
  • Unit Type Total Rent: $1,697
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,441
  • Unit Type Total Rent: $2,441
  • Unit Type Pro Forma: 2750
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1

Property History for 3867-71 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 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.

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3867-71 Menlo Avenue is a multi-family home for sale in San Diego, CA 92105. This property was listed for sale on October 7, 2024 by Commercial Asset Advisors, it's currently listed at $1,400,000. 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. 3867-71 Menlo Avenue is a 3-bed, 5-bath, 3,000 sqft multi-family home built in 1965.

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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