3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (1) Studio, (3) 1 Bedrooms / 1 Bath, and a laundry room. The property is legally a 4 unit on tax records and title, but… Read More 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 $73,136 with an immediately available rent increase yielding an above market true 5.22% 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. Read Less
Listing Snapshot
Days Online
12
Last Updated
Property Type
Other
Lot Size
0.13 Acres
Year Built
1965
MLS Number
PTP2406207
30 Days Snapshot Of 92105
$
-11%
(avg) sold price
16
-27%
homes sold
76
+5%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1965, Building area total: 3,000, 2 buildings, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Curbs
Expenses
Insurance expense: $4,250, New taxes expense: $17,429, Operating expense: $33,684, Water sewer expense: $2,606
Income
Gross income: $110,124, Net operating income: $73,136
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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