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$3,974,999

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8,789 SqFt

Active

3865 77 Menlo AVE San Diego, CA 92105

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/28/2024 09:47 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,789 sqft

Price per Sqft $452

MLS Listing ID PTP2405741

HOA Y/N No

Year Built 1964

Lot Size 0.290 Acres

Property Description

3865-77 Menlo Ave presents the opportunity to acquire 2 Contiguous parcel Multifamily Assets in Central San Diego totaling 15 units across 3 structures on a 12,625 sqft combined lot. The assets are located in 6.5 FAR Tier 3 Complete Community Zoning, which allows for a future high-density development opportunity. 3865-71 Menlo Ave consists of 5 units: (1) detached 2 bed / 1 bath house and a quadplex of 1 bed / 1 bath units with an onsite laundry room in the rear. The parcel size is 6,375 Sqft. 3877 Menlo consists of 10 units: (8) 1 bed / 1 baths & (2) 2 bed / 1 baths. The parcel size is 6,250 sqft. Both assets are turnkey with additional upside at an in-place cap rate averaging 4.49% or a 4.72% cap rate if rent increases were provided to the immediately viable units. For an investor looking to further maximize returns, lightly renovated units could achieve a proforma cap rate of 5.80%. The asset includes 15 on-site parking spaces providing for a desirable 1 parking space per unit. An additional 5 tandem parking spaces could be achieved if the fence was pushed back on 3865-71 Menlo Ave

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning Multifamily Complete Comm

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs

View Y/N No

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Sewer Public Sewer

Others

Senior Community No

Tax ID 4715910500

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Listed by Maxwell Brown • Commercial Asset Advisors • mbrown@caacre.com

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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