Home | San Diego County | San Diego | 92105 | 3877 Menlo Ave
MLS: CRPTP2602399 | Status: | Price: $2,300,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 6,607 | 1964 |
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
| Field | Value |
|---|---|
| MLS # | CRPTP2602399 |
| MLS Source | California Regional MLS |
| Days on Site | 22 |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
| HOA Fee | $0 |
Maxwell Brown
Commercial Asset Advisors
License #: 02127395
Phone: (925) 872-6746
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Rosa Parks Elementary School | public | K-5 | 0.24 mi | 4 |
| Euclid Elementary School | public | K-5 | 0.25 mi | 8 |
| Ibarra Elementary School | public | K-5 | 0.37 mi | 7 |
| Marshall Elementary School | public | K-5 | 0.55 mi | 7 |
| Fay Elementary School | public | K-5 | 0.61 mi | 2 |
| Hoover High School | public | 9-12 | 0.62 mi | 4 |
| Clark Middle School | public | 6-8 | 0.64 mi | 2 |
| Joyner Elementary School | public | K-5 | 0.70 mi | 4 |
| Central Elementary School | public | K-5 | 0.81 mi | 4 |
| Franklin Elementary School | public | K-5 | 0.83 mi | 5 |
| Cherokee Point Elementary School | public | K-5 | 0.99 mi | 3 |
| Hamilton Elementary School | public | K-5 | 1.00 mi | 8 |
| Mann Middle School | public | 6-8 | 1.01 mi | 5 |
| Wilson Middle School | public | 6-8 | 1.04 mi | 3 |
| Crawford High School | public | 9-12 | 1.05 mi | 4 |
| Edison Elementary School | public | K-5 | 1.36 mi | 7 |
| Normal Heights Elementary School | public | K-5 | 1.36 mi | 5 |
| Oak Park Elementary School | public | K-5 | 1.39 mi | 6 |
| Carver Elementary School | public | K-5 | 1.50 mi | 3 |
| Adams Elementary School | public | K-5 | 1.65 mi | 7 |
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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.