505 Monterey Lane

    San Clemente, CA 92672
    • $4,425,000
    • STATUS: Active
    • ON SITE: 26 days
    • ID#: PW20017330
    UPDATED: 22 min ago
    $4,425,000
    • 0
      BEDS
    • 0.09
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,914
      SQFT
    • $900
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    505 West is quintessential Southern California coastal real estate. This investment opportunity is located in the highly desirable "Pier Bowl" location of San Clemente, just a few steps to beaches (including world class surfing spots), historical San Clemente pier, restaurants and shops. 505 has been extensively remodeled, with over $1 million dollars invested into the interiors and exterior of the building bringing modern luxury to San Clemente. This opportunity features (2) studios, (2) one bedroom/one bathroom units and (4) two bedroom/two bathroom units with 75% of all units featuring ocean views. This property features (10) gated community garage spaces, patios, balconies and on-site laundry. 505 West truly a rare and special piece of Southern California coastal real estate. *Incredible Ocean Views, *Prestigious Pier Bowl Location, *Steps to the Beach, Historical San Clemente Pier, Restaurants & Shops, *Over $1 Million in Renovations and Upgrades, *Immaculate Modern Style Interiors, *Prime Candidate for Vacation rental-Permits Available, *Irreplaceable Real Estate

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-20T15:32:37.73. 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 The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

    www.livelovethefoothills.com/homes/102579211

    505 Monterey Lane San Clemente, CA 92672

    • Price: $4,425,000
    • Status: Active
    • Updated: 22 min ago
    • ID#: PW20017330
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.09
    Acres
    4,914
    SQFT
    $900
    $/SQFT
    1964
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    SC - San Clemente Central
    Property Description
    505 West is quintessential Southern California coastal real estate. This investment opportunity is located in the highly desirable "Pier Bowl" location of San Clemente, just a few steps to beaches (including world class surfing spots), historical San Clemente pier, restaurants and shops. 505 has been extensively remodeled, with over $1 million dollars invested into the interiors and exterior of the building bringing modern luxury to San Clemente. This opportunity features (2) studios, (2) one bedroom/one bathroom units and (4) two bedroom/two bathroom units with 75% of all units featuring ocean views. This property features (10) gated community garage spaces, patios, balconies and on-site laundry. 505 West truly a rare and special piece of Southern California coastal real estate. *Incredible Ocean Views, *Prestigious Pier Bowl Location, *Steps to the Beach, Historical San Clemente Pier, Restaurants & Shops, *Over $1 Million in Renovations and Upgrades, *Immaculate Modern Style Interiors, *Prime Candidate for Vacation rental-Permits Available, *Irreplaceable Real Estate
    Exterior Features

    Garage Spaces 10.00 Lot Features 6-10 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 10.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.50 Community Features CurbsSidewalksStorm DrainsStreet Lights Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 5880.00 Gross Multiplier 18.28 Gross Operating Income 234837.00 Gross Scheduled Income 242100.00 Insurance Expense 2217.00 Land Lease YN No Laundry Income 1200.00 Laundry YN Yes Maintenance Expense 11742.00 Maintenance Percent 5.00 Net Operating Income 154875.00 New Construction YN No New Taxes Expense 44735.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Operating Expense 79962.00 Operating Expense Percent 33.00 Other Expense 9669.00 Other Expense Description Utility Other Income1 4680.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Pier Bowl Total Expenses 79962.00 Trash Expense 0.00 Vacancy Allowance 7263 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Rick Applebaum of Morgan Skenderian


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-20T15:32:37.73. 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 The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

     
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