San Diego, CA 92105,3560 62 Menlo
San Diego, CA 92105,3560 62 Menlo
San Diego, CA 92105,3560 62 Menlo
San Diego, CA 92105,3560 62 Menlo
San Diego, CA 92105,3560 62 Menlo
San Diego, CA 92105,3560 62 Menlo
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$825,000

$900,000

8.3%
Est.Price: ?

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Est. payment /mo

SOLD DATE : 01/17/2023

Key Details

Sold Price $825,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision City Heights

MLS Listing ID 220026345SD

Sold Date 01/17/23

HOA Y/N No

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. Number of Furnished Units: 0

Location

State CA

County San Diego

Area 92105 - East San Diego

Building/Complex Name NA

Interior

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Fence Partial

View Y/N No

View None

Building

Story 1

Entry Level One

Level or Stories One

Others

Senior Community No

Tax ID 4760521400

Acceptable Financing Conventional

Listing Terms Conventional

Financing Conventional

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California Regional MLS (CRMLS)
Listed by Maxwell Brown • CBRE
Bought with Christina Labowicz • Apartment Consultants, Inc.
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