$825,000
$900,000
8.3%For more information regarding the value of a property, please contact us for a free consultation.
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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Bought with Christina Labowicz • Apartment Consultants, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "