$ 4,050,000
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$4,050,000
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About the Listing SAND-62951 - SAND-641894
Major Price Improvement. Available is an amazing opportunity to own a garden style apartment complex located in the beautiful coastal city of San Clemente, California. 317 Avenida Monterey is situated less than 1/2 mile to the Pacific ocean and the San Clemente Pier. Long term ownership has done a wonderful job maintaining the property inside and out during their long tenure which includes recent updates to 6 of the 7 units. A new buyer should be able to capture significant upside with further upgrades and improving the curb appeal. Nearby renovated units are achieving market rents that are roughly 40% higher than the subject property. 2 units currently occupied by the sellers will be available and delivered vacant at the close of escrow. In addition, a new owner might consider transforming some of the units into short-term rentals where average nightly rates for 2BR units are around $450. Tenants enjoy 2 parking spaces per unit, a laundry room, a large courtyard, and a balcony with peak ocean views. 317 Avenida Monterey is situated in the “Pier Bowl Area” which is an active, pedestrian oriented coastal center serving residents and tourists. The property has a walk Score of 84/100 (Very Walkable). Tenants enjoy the central location offering several restaurants, bars, markets as well as several public transportation lines. A short 8 Minute Walk in either direction to the San Clemente Pier as well as the shops, bars & restaurants along Avenida Del Mar which is considered the main Retail Corridor in San Clemente.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
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Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 14
- Roof:
- Others: 2+ Total Units
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Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 69204307
- Tax Year: N/A
Payment Calculator
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317 Avenida Monterey San Clemente, CA 92672
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