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$1,395,000
Est. payment /mo
3 Beds
2 Baths
5,863 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2503727
Bedrooms 3
HOA Y/N No
Lot Size 5,863 Sqft
Property Sub-Type Res Income 2-4 Units
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, 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! 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 property is well-parked with 5 off-street spaces with the potential to add 5 additional tandem spaces.
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! 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 property is well-parked with 5 off-street spaces with the potential to add 5 additional tandem spaces.
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! 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 property is well-parked with 5 off-street spaces with the potential to add 5 additional tandem spaces.
Location
State CA
County San Diego
Area East San Diego (92105)
Zoning Estimated
Exterior
Parking Features Unit1:Assigned
Building
Lot Description Curbs
Story 2
Lot Size Range 4000-7499 SF
Others
Acceptable Financing Conventional
Space Rent $1,590
Listing Terms Conventional
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Listed by Maxwell Brown • Commercial Asset Advisors
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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