3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (1) Studio, (3) 1 Bedrooms / 1 Bath, 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 still 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 $73, 136 with an immediately available rent increase yielding an above market true 5.22% 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. For more details: https://realtyww.info/homes_san-diego-d523497/for-sale_i77146041
Extra Information for 3867-71 Menlo Ave San Diego, CA
- Seller Type:
- Category: Single-Family Houses
- Listed Date: Oct 23, 2024
