Active
3865 Menlo Avenue
East San Diego CA, 92105
$3,975,000
Active
3 Beds
Multi-family
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 4.52% or a 4.76% 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 5.84%. 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
PTP2405741
MLSⓇ ID
September 19, 2024
Listed
December 6, 2024
Updated
Map
3865 Menlo Avenue
East San Diego CA, 92105
Interior Features
Total Stories
2
Bedrooms
3
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.29 Acres
Lot Features
Curbs
Other Property Details
Days on Market
83
Garage
No
View
No
County
San Diego
Pool
No
Pool Features
None
Listing History
Date | Event | Price |
|---|---|---|
12/6/2024 | Price change | $3,975,000 0% |
10/17/2024 | Price change | $3,974,999 -1% |
Listed by Commercial Asset Advisors, ,
Listing Contact: 925-872-6746
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Data last updated 6:20 PM UTC, 12/6/2024
