San Diego, CA 92105,3865 Menlo Avenue
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San Diego, CA 92105,3865 Menlo Avenue
San Diego, CA 92105,3865 Menlo Avenue
San Diego, CA 92105,3865 Menlo Avenue
San Diego, CA 92105,3865 Menlo Avenue
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Listed by Maxwell Brown • Commercial Asset Advisors
$ 3,975,000
Est. payment /mo
Active

3865 Menlo Avenue San Diego, CA 92105

8,789 SqFt


UPDATED:

12/05/2024 10:43 PM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 8,789 sqft

Price per Sqft $452

MLS Listing ID CRPTP2405741

HOA Y/N No

Originating Board Datashare California Regional

Year Built 1964

Lot Size 0.290 Acres

Property 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

Location

State CA

County San Diego

Interior

Fireplace No

Laundry Community Facility


Bay East AOR and Contra Costa AOR

Ikenna Ezeude

Broker Associate | License ID: 01777165 | NMLS ID: 877333

+1(510) 928-3541

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3865 Menlo Avenue