Residential Income For Sale – – – – Price $1,399,000 – PTP2406207
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 $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% 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.

Address Map
US
California
San Diego
San Diego
92105
Menlo Avenue
3867
W118° 54' 20.7''
N32° 44' 56.3''
Neighborhood
Neighborhood
Additional Information
40
Estimated
REALTOR
DOTCOM
Commercial Asset Advisors
$0
$0
$0
$0
$0
$0
$0
4,000-7,499 sf
City Heights
Borrego springs
Fallbrook union elementary distr
Fallbrook union elementary distr
Fallbrook union high school dist
2

Residential Income For Sale

3867 Menlo Avenue, San Diego, California 92105

5,863 Sqft
$1,399,000
Listing ID #PTP2406207
Basic Details
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 $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% 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.

Status : Active
Property Type : Residential Income
Listing Type : For Sale
Listing ID : PTP2406207
Price : $1,399,000
Lot Sq Ft : 5,863 Sqft
Style : Res income 2-4 units
Unit 1 # Bedrooms : 1
Unit 2 # Bedrooms : 1
Unit 3 # Bedrooms : 2
Unit 1 # Total Baths : 1
Unit 2 # Total Baths : 1
Unit 3 # Total Baths : 1
Agent info
Berkshire Hathaway HomeServices California Properties
6027 Paseo Delicias, Rancho Santa Fe, CA 92067
Contact Agent
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