3206 Avenida Del Presidente
Residential Income Details
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
|Number of Units||22|
|Listing Brokerage||Morgan Skenderian|
|Listing Agent||Rick Applebaum|
|Listing Agent BRE #||01273871|
Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, September 25, 2018.
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