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Key Details
Sold Price $825,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 584 sqft
Price per Sqft $1,412
Subdivision City Heights
MLS Listing ID 220026345
Sold Date 01/17/23
Bedrooms 6
Full Baths 3
Half Baths 1
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.
Location
State CA
County San Diego
Community City Heights
Area East San Diego (92105)
Building/Complex Name NA
Interior
Cooling Wall/Window
Exterior
Exterior Feature Stucco
Fence Partial
Roof Type Other/Remarks
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscal.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Christina M Labowicz • Apartment Consultants, Inc.