3865 77 Menlo Avenue , San Diego, CA 92105
San Diego, CA 92105
Description
3865-77 Menlo Ave presents 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 4.52% or a 4.76% 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 5.84%. 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
Details
| Mls | PTP2405741 |
|---|---|
| Listing Type | For Sale |
| Subtype | Resale |
| Status | Active |
| Year | 1964 |
| Days On Site | 85 |
| Listing Provided By | Commercial Asset Advisors 858-360-3000 | Maxwell Brown |
Features
| Sq Feet | 8,789 |
|---|---|
| Storys | 2 |
| Units | 15 |
| Buildings | 3 |
| Zoning | Multifamily Complete Comm |
| Acreage | 0.29 |
Market Activity 92105
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92105 |
| Area | 92105 East San Diego |
| Listing VS Median (in 92105) | |
Price: $3,975,000 low | high Med: $730,000 SqFt: 8,789 low | high Med: 1,262 $ / SqFt: $452 low | high Med: $583 On Site: 85 low | high Med: 99.500000 | |
