3206 Avenida Del Presidente

  • San Clemente

  • $8,800,000
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Residential Income Details

Description
This is an exceptionally rare opportunity to own a midsize apartment complex in San Clemente. There are approximately 8 buildings in all of San Clemente between 20-30 units and they rarely come available for purchase. This building has been owned and operated by the current ownership since 1987, when the property was built. Over half of the units receive ocean views and its proximity to San Clemente State Beach makes this location a highly desirable rental spot. The current rent levels are estimated to be 25-35% below market rents depending on the amount of improvements someone intends to perform. Through upgrades to the interiors as well as cosmetic improvements to the exterior, an investor can realize significantly higher rent levels which will increase the cash flow and substantially improve the value of the property. The increase in equity will far outpace the cost to achieve the higher income. *Ocean View, 1987 Construction Apartment Units, *First Time on Market-Original Owner, *Majority 2 & 3 Bedroom Units, *Incredible Location near San Clemente State beach & Calafia park, *Over 2:1 Parking Ratio; *Garages & Carports, *Massive Upside in Rents
Essential
MLS #PW18184224
Price$8,800,000
Number of Units22
Sale TypeStandard
StatusPending
Listing BrokerageMorgan Skenderian
Listing AgentRick Applebaum
Listing Agent BRE #01273871
Interior
Exterior
Garage Spaces7
PoolNone
Community
Area699 - Not Defined
CommunityCurbs,Sidewalks,Storm Drains,Street Lighting
Address3206 Avenida Del Presidente
CitySan Clemente
CountyOrange
StateCA
ZipCode92672
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, September 25, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.