3845-51 Menlo Ave San Diego, CA 92105
- Apartment buildings
- 2,042 SF
Current Use by Public Records
- Apartment buildings
Property Details for 3845-51 Menlo Ave
- Year built
- 1926
- Property size
- 2,042 SF
- Property type
- Apartment buildings
Description
This exceptional 4-unit apartment building presents a compelling value-add investment opportunity in San Diego's desirable City Heights neighborhood. Located at 3845-51 Menlo Ave, 92105, this 1926-built property boasts 2,042 square feet of rentable space situated on a 6,494 square foot lot. The building comprises four units: one 2-bedroom/1-bathroom and three 1-bedroom/1-bathroom units, currently enjoying 100% occupancy. Two single-car garages are located at the rear of the property. The current Net Operating Income (NOI) is $42,000, yielding a 4.20% cap rate. However, a pro-forma analysis projects a significantly improved NOI of $68,000, resulting in a 6.80% cap rate, showcasing substantial upside potential. The asking price is $1,000,000, or $250,000 per unit. This Class C property offers a rare chance to acquire a well-located multifamily asset with strong potential for increased profitability through strategic renovations and management improvements. The property's location in San Diego, CA, provides excellent access to local amenities and transportation. This is an ideal opportunity for investors seeking a value-add investment with significant return potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.094
- Latitude
- 32.7486
