3867 Menlo Ave San Diego, CA 92105

Property Details for 3867 Menlo Ave

Year built

1970

Property size

3,000 SF

Property type

Commercial real estate

APN

4715910500

Description

This exceptional San Diego investment opportunity presents a stabilized, 5-unit apartment building situated on a sizable 5,863 square foot lot. The property, built in 1970, comprises two buildings: a detached two-bedroom, one-bathroom house and a fourplex featuring four one-bedroom, one-bathroom units, plus a laundry room. While officially recorded as a four-unit property, it functions as a five-unit complex, offering a unique advantage for securing residential financing. The property boasts a current Net Operating Income (NOI) of $73,211, translating to a 5.23% capitalization rate. A pro-forma NOI of $85,259 projects a 6.09% cap rate, reflecting the potential for increased income through rent adjustments. The 3,000 square foot building currently enjoys 100% occupancy. Five off-street parking spaces are available, with potential for expansion. The asking price is $1,400,000, representing a price per unit of $280,000 and a price per square foot of $466.67. This central San Diego location offers significant upside potential for a savvy investor seeking strong cash flow and appreciation. The property's current gross scheduled income is $110,124. This presents a rare chance to acquire a multifamily property with the potential for residential financing, offering a compelling blend of immediate income and long-term growth prospects.