$ 3,974,999
3865 Menlo Avenue San Diego, CA 92105
Save 
Share Schedule a Tour
REQUEST A TOUR
In-PersonVirtual Tour
REQUEST A TOUR
In-PersonVirtual Tour
$ 3,974,999
Est. payment | /mo
8,789 SqFt
$ 3,974,999
Est. payment | /mo
8,789 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,789 sqft
Price per Sqft $452
MLS Listing ID CRPTP2405741
HOA Y/N No
Year Built 1964
Lot Size 0.290 Acres
Acres 0.29
Property Description
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 4.49% or a 4.72% 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 5.80%. 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
Location
State CA
County San Diego
Area Listing
Zoning Mult
Interior
Fireplace No
Laundry Community Facility
Building
Sewer Public Sewer
New Construction No
Others
Tax ID 4715910500
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Maxwell Brown • Commercial Asset Advisors
GET MORE INFORMATION
QUICK SEARCH