317 Avenida Monterey,San Clemente, CA 92672
San Clemente, CA 92672
Description
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.
Details
| MLS # | 260017077SD |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 60 |
| Listing Provided By | Marcus & Millichap | Thomas McCartin |
Features
| Car Port | Yes |
|---|---|
| Units | 7 |
| Building(s) | 2 |
| Acreage | 0.21 |
Interior
| Heating Yes / No | No |
|---|---|
| Cooling Yes / No | No |
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | San Clemente |
| Zip Code | 92672 |
| Listing VS Median (in 92672) | |
Price: $4,050,000 low | high Med: $1,187,000 On site: 60 low | high Med: 54 | |
Market Activity 92672
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | San Clemente |
| Zip Code | 92672 |
| Listing VS Median (in 92672) | |
Price: $4,050,000 low | high Med: $1,187,000 On site: 60 low | high Med: 54 | |
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