3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (4) 1 Bedrooms / 1 Bath units, and a laundry room. The property is legally a 4 unit on tax records and title, but was… Read More built as a 5 unit and is currently 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! Roughly half of the units possess light interior updates while the other half are in unrenovated condition. The property produces a strong $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% 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
18
Last Updated
Property Type
Other
Lot Size
0.13 Acres
Year Built
2000
MLS Number
PTP2407391
30 Days Snapshot Of 92105
$602k
-8%
(avg) sold price
9
-43%
homes sold
60
-26%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 2000, Building area total: 3,000, 2 buildings, Architectural style: , Attached, Common walls: OneCommonWall
Community
Curbs
Expenses
Insurance expense: $4,500, New taxes expense: $17,429, Operating expense: $33,672
Income
Gross income: $103,080, Net operating income: $69,408
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
