3867 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 (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...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.
- Listed by Maxwell Brown • DRE #02127395 • Brokerage DRE #02077455 • Commercial Asset Advisors • mbrown@caacre.com
Property Details for 3867 Menlo Avenue
Parking Spaces Total
0
Private PoolNo
Total Units4.0
Building TypeAttached
Lot Size SourcePublic Records
Living Area3000
Assessor Parcel Number471-591-05-00
Property Attached YNtrue
LISTING UPDATED: 12/04/2024 12:13 PM
Property Details for 3867 Menlo Avenue
Status | Active |
---|---|
MLS # | PTP2407393 |
Days on Market | 13 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
Lot Size | 0.13 AC / 5,863 SF |
County | San Diego County |
Building Information for 3867 Menlo Avenue
Stories2Residences-Year Built1960Building Size-Lot Size0.13 AC / 5,863 SF
Property Information for 3867 Menlo Avenue
Property History for 3867 Menlo Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 3867 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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