Property listed by Caliber Real Estate Group, Charisse Okamoto 714-602-6065
$3,125,000
Exceptional fourplex investment opportunity in the heart of San Clemente! Located at 241 Avenida Serra, this fully occupied Spanish-style property features four spacious 2-bedroom, 2-bathroom units, each approximately 1,200 square feet. Each unit enjoys its own private balcony and TWO dedicated parking spaces, providing a total of EIGHT parking spaces—an… Read More incredible advantage in this desirable coastal community where beachside parking is at a premium! Showcasing classic Spanish architecture with a red tile roof, charming archways, and attractive landscaping, the property offers timeless coastal appeal. The generously sized units feature bright living spaces, functional kitchens, ample storage, and newer flooring. Additional improvements include upgraded electrical panels, while convenient on-site coin-operated laundry provides an additional income opportunity. All four units are currently rented, generating $12,400 per month or $148,800 annually in gross scheduled rental income. With estimated market rents of approximately $3,650 per unit, there is potential to increase gross rental income to $175,200 annually, representing $26,400 in potential annual upside, subject to applicable rental regulations. Ideally located near San Clemente's beautiful beaches, iconic pier, Avenida Del Mar shopping and dining, and scenic coastal trails, this property offers the coastal lifestyle tenants desire. With spacious floor plans, private outdoor spaces, valuable dedicated parking, existing income, and future rental upside, 241 Avenida Serra is a compelling opportunity to own a multifamily investment in one of Orange County's most sought-after beach communities! Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Quadruplex
Lot Size
0.12 Acres
Year Built
1973
MLS Number
PW26221604
Additional Details
Property Access
Road Surface: Paved
Building
Built in 1973, 1 building, 3 stories, Levels: Two, Entry level: 2, Entry location: 2, Construction Materials: Stucco
Community
StreetLights, Sidewalks
Cooling
None
Doors
SlidingDoors
Expenses
Electric: $147, Gardener: $1,440, Insurance: $9,765, Maintenance: $4,000, Operating: $21,095, Pest Control: $922, Trash: $1,284, Water/Sewer: $2,778, Other Expense: $759
Fireplaces
None
Floors
Carpet, Vinyl
Foundation
Slab
Heating
Central
Home Owner's Association
Association Fee: $0
Income
Gross Income: $127,946, Gross ScheduledIncome: $148,800, Net Operating Income: $127,705
Interior Features
CeilingFans, TileCounters
Laundry
CommonArea
Lot
0.12 acres, Paved
Parking
4 carport spaces, 4 open parking spaces, 8 total parking spaces, Covered, Driveway
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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