3865-3871 Menlo AveSan Diego, CA 92105

This exceptional investment opportunity presents a 15-unit multifamily property in San Diego, CA, encompassing three buildings on a combined 12,625 square foot lot. The property, located at 3865-3871 & 3877 Menlo Avenue (APN 471-591-05 & 471-591-32), is currently 100% occupied and boasts a strong in-place net operating income (NOI) of $187,575, translating to a 4.72% capitalization rate. With a total of 8,788 square feet of net rentable space, the property offers 15 parking spaces, a desirable one-to-one ratio. The buildings, constructed in 1964, are comprised of a mix of one- and two-bedroom units. One building features a detached two-bedroom, one-bathroom house and a quadplex of one-bedroom, one-bathroom units with an on-site laundry room. Another building houses eight one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units. The property is zoned for multifamily use and situated in a prime location, offering significant upside potential. A pro-forma NOI of $230,425 is achievable with modest rent increases, resulting in a projected 5.80% capitalization rate. The asking price is $3,975,000, or $265,000 per unit. This presents a compelling opportunity for investors seeking strong cash flow and future development potential in a thriving San Diego neighborhood. The property's central location near primary employment centers and entertainment options further enhances its appeal.