3867 71 MENLO AVENUE, SAN DIEGO CA 92105
- 3,000 sq.ft.
- 5,863 sq.ft. lot
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 $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.
Listing Courtesy of Maxwell Brown, Commercial Asset Advisors
Exterior Features
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