Active
3865 77 Menlo Avenue
San Diego CA, 92105
$3,974,999
$452.27 per sqft
Active
8,789 sqft
Residential
Built in 1964
Listed by Maxwell Brown with Commercial Asset Advisors [email protected]
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 4.49% 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
PTP2405741
MLSⓇ ID
September 19, 2024
Listed
October 29, 2024
Updated
Map
3865 77 Menlo Avenue
San Diego CA, 92105
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.29 Acres
Lot Features
36-40 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
92105 - East San Diego
Days on Market
39
Garage
No
Parking Total
0
View
No
County
San Diego
Pool
No
Pool Features
None
Zoning
Multifamily Complete Comm
Listing History
Date | Event | Price |
|---|---|---|
10/17/2024 | Price change | $3,974,999 -1% |
Listing Contact: 858-360-3000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/29/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 10/29/2024 at 11:15 AM UTC