Property Details
About this Property
3877 Menlo Avenue presents an attractive opportunity to acquire a well located, value-add multifamily asset at a low price per unit in Central San Diego’s high-demand, but still affordable workforce housing market. The property consists of 10 units totaling 5,788 rentable square feet on a 6,607 SF lot, featuring an efficient unit mix of (8) 1 Bed / 1 Bath and (2) 2 Bed / 1 Bath units, complemented by 10 off-street parking spaces. The 1 bedroom units are oversized and possess walk-in closets. The property produces $213-216k annual income yielding a 5.48% cap rate with strong upside to a projected 7.04% cap rate upon full renovation and lease-up to market rents. Built in 1964, the asset offers classic walk-up construction with a pitched roof and a secure, fully gated courtyard. Recent exterior improvements include a full paint completed in 2025. Three units have been renovated, providing a clear path for continued interior upgrades to capture significant rental upside. Additional income potential exists through the implementation of a utility billback program. The property benefits from excellent accessibility to major employment hubs including Downtown San Diego, North Park, Mission Valley, SDSU, USD, and Naval Base San Diego. Convenient access to I-15, I-805, I-8, and SR-94 f
MLS Listing Information
MLS #
CRPTP2602399
MLS Source
California Regional MLS
Days on Site
0
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
3877 Menlo Ave is a Residential Income in San Diego, CA 92105. This – square foot property sits on a 6,607 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,300,000 and was built in 1964. This address can also be written as 3877 Menlo Ave, San Diego, CA 92105.
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This listing information is up-to-date as of April 07, 2026. For the most current information, please contact Maxwell Brown, (925) 872-6746
