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    428 Monterey Lane

    San Clemente, CA 92672
    • $2,450,000
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: PW21069119
    UPDATED: 37 min ago
    $2,450,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,394
      SQFT
    • $722
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    We are pleased to present the Capri Apartments, a 5+1 unit investment opportunity located in the quaint Spanish seaside community of San Clemente. Perched atop the city's highly coveted "Pier Bowl", the Capri Apartments offer breathtaking, million-dollar ocean views from all units except the non-conforming studio. Furthermore, the property is just steps from pristine beaches, Historical San Clemente Pier, and San Clemente Beach Trail, plus an array of restaurants and shops just a mere two blocks over in the citys "Avenida Del Mar or "Downtown as locals know it. Some interiors have received recent upgrades with the others available for improvement and dramatically increased rents. A diverse unit mix of studio, 1 & 2-bedroom units create opportunity for renters of all types whod like to enjoy living in this one of a kind location. Amenities as ocean-view balconies, on-site laundry, carport and garage parking along with its proximity to the coastline further enhance the appeal to potential renters and/or vacationers The Capri Apartments offers multiple outlets of amazing growth potential, whether it is through continued upgrades and increased rents or capitalize on seldom-available, exclusively limited short-term vacation rentals in which the property is zoned for making this coastal asset a welcomed and smart additional to any investors portfolio. *Property is legally 5 units + 1 non-conforming unit

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-17T23:36:43.293. 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 deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
    www.myorangecountyhomesearcher.com/homes/115726300
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    428 Monterey Lane San Clemente, CA 92672

    • Price: $2,450,000
    • Status: Active
    • Updated: 37 min ago
    • ID#: PW21069119
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,394
    SQFT
    $722
    $/SQFT
    1963
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Orange
    Area:
    699 - Not Defined
    Property Description
    We are pleased to present the Capri Apartments, a 5+1 unit investment opportunity located in the quaint Spanish seaside community of San Clemente. Perched atop the city's highly coveted "Pier Bowl", the Capri Apartments offer breathtaking, million-dollar ocean views from all units except the non-conforming studio. Furthermore, the property is just steps from pristine beaches, Historical San Clemente Pier, and San Clemente Beach Trail, plus an array of restaurants and shops just a mere two blocks over in the citys "Avenida Del Mar or "Downtown as locals know it. Some interiors have received recent upgrades with the others available for improvement and dramatically increased rents. A diverse unit mix of studio, 1 & 2-bedroom units create opportunity for renters of all types whod like to enjoy living in this one of a kind location. Amenities as ocean-view balconies, on-site laundry, carport and garage parking along with its proximity to the coastline further enhance the appeal to potential renters and/or vacationers The Capri Apartments offers multiple outlets of amazing growth potential, whether it is through continued upgrades and increased rents or capitalize on seldom-available, exclusively limited short-term vacation rentals in which the property is zoned for making this coastal asset a welcomed and smart additional to any investors portfolio. *Property is legally 5 units + 1 non-conforming unit
    Exterior Features

    Carport Spaces 3 Carport YN Yes Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 6 Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Common Walls No Common Walls

    Property Features

    Additional Parcels YN No Cap Rate 3 Common Interest None Community Features CurbsStorm Drain(S)Street LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 600 Gross Scheduled Income 118800 Insurance Expense 2465 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 6914 Net Operating Income 72986 New Construction YN No New Taxes Expense 24778 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Operating Expense 42250 Other Expense 6955 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance 3564 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning R3

    Listing provided courtesy of Rick Applebaum of Morgan Skenderian and Paul Espinosa of Morgan Skenderian


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-17T23:36:43.293. 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 deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
     
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