3560-62 Menlo, San Diego, CA 92105

$825,000
73,939
SqFt
Sold Price
$825,000
List Price
$975,000
Closing Date
Jan 17, 2023
Days on Market
60
Status
SOLD
MLS#
220026345
Living Sq. Ft
73,939
Lot Size(Range)
4,000-7,499 SF
City
East San Diego
Neighborhood
Na
Complex/Building Name
Na
Property Type
Multifamily
Year Built
1940

Property Description

During a time of previously would-be homebuyers transitioning back to the renter pool, 3560-62.5 Menlo Ave provides an investor or owner-occupier a unique opportunity to attract high-quality tenants searching for home-like product to rent in a central San Diego, family-oriented location nearby primary employment hubs, schools, and entertainment at a HUGE 8.25%+ post renovation cap rate with an additional $250,000+ in forecasted net equity growth from renovating this unique asset. Menlo Ave Homes provides tenants with detached homes, in-unit laundry hook-ups, potential private yard space, and off-street parking tucked away on a quiet court. The asset is located within a 10 minute drive to Balboa Park, SDSU, USD, Downtown San Diego, and Northpark. Menlo Homes possesses craftsman architecture and raised foundation in 2/3 of units for increased rent potential and reduced maintenance. All units possess pitched roofs. The asset will also serve a post-renovation buyer well as a way to offset mortgage expenses in a market time when single family home ownership is out of reach for most.

Additional Information

Building Name
Na
Living Area
73,939
Lot Size Range
4,000-7,499 SF
Neighborhood
Na
Stories
1 Story
Style
Res Income 2-4 Units
Year Built
1940

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Maxwell Brown (925-872-6746) from Listing Office: CBRE.

Selling Office: Apartment Consultants, Inc..

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