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$1,400,000

Est. payment - /mo

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3,000 SqFt

Active

3867 71 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

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,000 sqft

Price per Sqft $466

MLS Listing ID PTP2406190

HOA Y/N No

Year Built 1965

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 (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.

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning Multifamily

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 21-25 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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