3560 62 Menlo, San Diego, CA 92105
Property
Sold January 2023
Listing Agent: Maxwell Brown (DRE #02127395) · Listing Office: CBRE · Contact: 858-546-4600 · Bought with: Christina Labowicz · Apartment Consultants, Inc. · MLS #220026345SD · Source: CRMLS
About this property
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
Listing description from the January 2023 sale, as reported to CRMLS.
Sale history