Unbeatable Triplex Opportunity! Discover this exceptional triplex, perfectly positioned and located in the heart of coastal San Clemente within walking distance to 3 beach access points, parks, schools & easy bike or walk to downtown shops & restaurants! Bonus feature is the sellers have City approved plans to add two additional free standing 1 br, 1 ba ADUs if new buyer wants to add units in the open rear yard area to increase yearly revenues! Now offered at an enhanced price of $1,799,900, presenting a fantastic investment opportunity. Property boasts a large lot w/6 onsite parking spots, 3 covered and 3 uncovered, plus a spacious rear lot area with potential for building the 2 additional ADU units or enhancing outdoor living space. Building is comprised of three units, each offering a unique set of features & rental potential. Unit #1 is a 1 bed/1 ba with an oversized private balcony on the front of the building; currently leased on a month-to-month basis. Unit #2, also a 1 bed/1 ba, has been renovated & offers a private exterior balcony & peek ocean views from the balcony & living room & is leased through 2025. Unit #3 is a 2 bed/2 bath, features rear exterior patio & deck areas & is leased on a month to month basis. Total current annual income of $83,640 w/PRO FORMA income of $96,000. This property presents an exciting investment opportunity & includes the City of San Clemente approved ADU plans for TWO detached 1 bed/1 bath 480 sq ft units totaling 960 additional sq ft. The ADU's have potential to increase the annual income by $72,000. Seller will provide ADU building plans, soils report & topographic survey to buyer; property has been surveyed & staked for construction. ADU application is active until 4/2025 & can be extended if the process is resumed before that time according to the city (buyer to verify). The bldg is well-maintained and offers a range of opportunities for future development/income growth. With its prime location w/in walking distance to the beach & a spacious lot, this triplex is a rare find in the South OC real estate market. Value Added features include a new main water line, newly relined main sewer & upgraded water heater. The property also features a very large unfinished basement that could be reimagined as a community room, game room, gym or outfitted for tenant storage producing additional income. Onsite laundry room w/ potential for additional income of $400 monthly.
DAYS ON MARKET
|
110
|
LAST UPDATED
|
10/9/2024
|
TRACT
|
,BEACH & DOWNTOWN CLOSE LOCATION
|
YEAR BUILT
|
1964
|
COMMUNITY
|
San Clemente Southwest
|
COUNTY
|
Orange
|
STATUS
|
Conditional
|
PROPERTY TYPE(S)
|
Residential Income
|
Prior to Aug 8, '24
|
$1,850,000
|
Aug 8, '24 - Aug 19, '24 |
$1,799,900
|
Aug 19, '24 - Today |
$1,850,000 |
AIR |
None |
APPLIANCES |
Disposal, Dryer, Gas Cooktop, Refrigerator, Washer |
AREA |
San Clemente Southwest |
GARAGE |
Attached Carport, Carport, Covered, On Site, One Space, Tandem, Uncovered |
HEAT |
Wall Furnace |
HOA DUES |
0 |
INTERIOR |
Primary Suite |
LOT |
3920 sq ft |
LOT DESCRIPTION |
Back Yard, Level, Near Park, Yard |
PARKING |
Attached Carport,Covered,Carport,On Site,One Space,Tandem,Uncovered |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
2 |
SUBDIVISION |
,BEACH & DOWNTOWN CLOSE LOCATION |
VIEW |
Yes |
VIEW DESCRIPTION |
Neighborhood,Ocean,Peek-A-Boo |
WATER |
Public |
WATERFRONT |
Yes |
WATERFRONT DESCRIPTION |
Ocean Side Of Freeway |
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Listed with Compass
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/17/24 10:08 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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