3867-3871 Menlo Ave
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3867-3871 Menlo Ave
5 Unit Block of Flats £1,095,430 (£219,086/Unit) 5.43% Net Initial Yield San Diego, CA 92105
Investment Highlights
- Detached 2 Bedroom Single Family Home
- Low Density & Well-Parked
- Strong in-place returns with additional rent upside
- 30 year Fixed Residential Financing Available
Executive Summary
3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (4) 1 Bedrooms / 1 Bath units, 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 $76,066 with an immediately available rent increase yielding an above market true 5.44% 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.
The contiguous parcel 10 unit apartment building at 3877 Menlo is also available for sale under same ownership
The property produces a strong $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% 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.
The contiguous parcel 10 unit apartment building at 3877 Menlo is also available for sale under same ownership
Property Facts
| Price | £1,095,430 | Apartment Style | Low Rise |
| Price Per Unit | £219,086 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Net Initial Yield | 5.43% | Building Size | 3,000 SF |
| Gross Rent Multiplier | 12.71 | Number of Floors | 2 |
| No. Units | 5 | Year Built | 1964 |
| Property Type | Residential | Parking Ratio | 1.04/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £1,095,430 |
| Price Per Unit | £219,086 |
| Sale Type | Investment |
| Net Initial Yield | 5.43% |
| Gross Rent Multiplier | 12.71 |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,000 SF |
| Number of Floors | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.04/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 450 - 550 |
| 2+1 | 1 | - | 825 |
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Walk Score ®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 471-591-05 | Improvements Assessment | £427,859 |
| Land Assessment | £299,502 | Total Assessment | £727,361 |
PROPERTY TAXES
Parcel Number
471-591-05
Land Assessment
£299,502
Improvements Assessment
£427,859
Total Assessment
£727,361
zoning
| Zoning Code | R4 |
| R4 |
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3867-3871 Menlo Ave
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