3867 71 Menlo AVE Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92105
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2503727
Year Built 1960
Lot Size 5,863 Sqft
Property 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, a laundry room, and 5 off-street parking spaces. 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! The property produces a strong $107,772 Gross Scheduled Income with a Net Operating income of $79,315 yielding an above market true 5.69% Cap Rate. A savvy investor may elect to renovate units to achieve even higher rents. The contiguous 10 unit property 3877 Menlo Ave is also available for sale with the same ownership.
Location
State CA
County San Diego
Area 92105 - East San Diego
Zoning RM
Interior
Laundry Common Area
Exterior
Parking Features Assigned
Pool None
Community Features Curbs
View Y/N No
Building
Lot Description 26-30 Units/Acre
Story 2
Sewer Public Sewer
Others
Acceptable Financing Conventional,Fannie Mae
Listing Terms Conventional,Fannie Mae
Special Listing Condition Standard