Price $1,399,000
Status Active
Beds 0
Baths 0 bath
Home size 1,847 sq ft
Lot Size 9,601 sqft
Days on Market 19
3 units on a large lot only one block from the ocean and San Clemente beach trail. Walking distance to both the Pier and popular North Beach attractions including Ellie's Table, Shwack's Cantina, Ole Hanson Beach Club, and more. Property will be sold with fully engineered plans for 4 luxury 3-bedroom townhomes, each with an average size of 1725 SF. The development will require minimal steel and will not require caissons or site shoring. Per local contractor, construction costs will be approximately $2,000,000 (~290/ft). The total project sell out should be between $4,400,000 & $4,600,000 based on area comps (~650/ft). Due to the lack of new inventory with such close proximity to the ocean and nightlife, total sell out could easily exceed $4,600,000. Per architect, this development is under the 5-unit threshold and thus not subject to city or planning commission hearings. New owner can submit plans and wait for planning department approval while collecting income. The current owner would like to develop the site but does not have the resources and plans to sell and exchange into already identified apartments. Buyer to cooperate with seller 1031. Buyer to verify all information.
Property Type(s): Residential Income
Last Updated 10/4/2017 Tract Other (OTHR)
Year Built 1948 Community SC - San Clemente Central
County Orange

Additional Details

AREA SC - San Clemente Central
HEAT Wall Heater
HOA DUES 0.00
LOT 9601 sq ft
LOTDESCRIPTION Cul-De-Sac
POOL DESCRIPTION None
STORIES 2
SUBDIVISION Other (OTHR)
UTILITIES Public;
WATER Public

Location

 

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Listing provided by : Nicole Kaemerle CalBRE:02027007, Patrick Kaemerle, Broker

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