3865-71.5 Menlo Ave possesses 5 total units consisting of a detached 2 Bed / 1 Bath House + a rear Fourplex consisting of (4) 1 Bedrooms / 1 Bath units, and a laundry room. The property is legally a 4 unit on tax records and title, but was built as a 5 unit and is still operating as a 5 unit. This rare scenario provides a new buyer the opportunity to achieve 30 year fixed residential financing while receiving income from 5 original construction units!
The property produces a strong $110,124 Gross Scheduled Income with a Net Operating income of $76,066 with an immediately available rent increase yielding an above market true 5.44% Cap Rate. A savvy investor may elect to renovate units to achieve even higher rents. The property is well-parked with 5 off-street spaces with the potential to add 5 additional tandem spaces.
The contiguous parcel 10 unit apartment building at 3877 Menlo is also available for sale under same ownership