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 $111,306 Gross Scheduled Income with a Net Operating income of $77,284 with an immediately available rent increase yielding an above market true 5.54% 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.
Property Details
Price:
$1,395,000
MLS #:
PTP2503727
Status:
Active
Baths:
0
Address:
3867 Menlo Avenue
Type:
Residential Income
Neighborhood:
92105eastsandiego
City:
San Diego
Listed Date:
Apr 15, 2025
State:
CA
ZIP:
92105
Lot Size:
5,863 sqft / 0.13 acres (approx)
Year Built:
1960
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Schools
Interior
Exterior
Community Features
Curbs
Garage Spaces
0.00
Lot Features
26-30 Units/ Acre
Parking Features
Assigned
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Financial
Association Fee
0.00
Map
Community
- Address3867 Menlo Avenue San Diego CA
- Area92105 – East San Diego
- CitySan Diego
- CountySan Diego
- Zip Code92105
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3867 Menlo Avenue
San Diego, CA
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