$825,000
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
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
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! "
25101 The Old Road Suite 240, Ranch, Ca, 91381, United States