3865 77 Menlo Avenue, San Diego, CA 92105
-
Listed Price :
$3,975,000
-
Beds :
N/A
-
Baths :
-
Property Size :
N/A sqft
-
Year Built :
1964
Property Description
Commercial Asset Advisors is pleased to present 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
Interior Features
| Laundry Information |
| Location(s) |
Common Area |
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
3865 77 Menlo Avenue |
| City |
San Diego |
| State |
CA |
| Zip |
92105 |
| County |
San Diego |
| Listing Agent |
Maxwell Brown DRE #02127395 |
| Courtesy Of |
Commercial Asset Advisors |
| List Price |
$3,975,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
N/A |
| Lot Size |
12,625 |
| Year Built |
1964 |
Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 19th, 2024 at 12:42 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
