16562 Goldenwest St - Apartments FOR SALE


Huntington Beach, CA 92647
$1,900,000 USD
949-200-7494
16562 Goldenwest St, Huntington Beach, CA for Sale
$1,900,000 USD
Apartments - FOR SALE
1/7
null | 3.47% Cap Rate

16562 Goldenwest St
Huntington Beach, CA 92647


HIGHLIGHTS

  • Great Unit Mix of Large 3- and 2-Bedroom Units with One Townhome Unit
  • Value Add Opportunity with Over 45% Rental Upside Potential | 3 of 4 Units are Month-to-Month
  • Low Operating Expense | Tenant Pay for TRASH, Electricity and Gas | Brand New Water Heaters in Each Unit
  • Units are Large with Private Patios or Balcony, Plenty of Natural Light, and Wall Heaters
  • Ample On-Site Parking | (2) - Double Car Garages & (3) Surface Spaces
  • Property is Subject to AB-1482 | California’s Statewide Rent Control | Allowing Annual Increases of 5% + CPI

OVERVIEW

Matthews Real Estate Investment Services, as the exclusive listing agent, is pleased to offer the opportunity to acquire 16562 Goldenwest Street, a four-unit Covington-style value add apartment building in the desirable Goldenwest neighborhood of Huntington Beach, CA. Built in 1969, this well-maintained property offers 4,442 rentable SF on a 7,405 SF lot featuring an excellent unit mix of one (1) three-bedroom "owner's unit" and three (3) two-bedroom units with ample on-site parking including two (2) double-car garages and three (3) surface parking spaces. Each unit features spacious layouts with private patios or balconies, abundant natural light, and wall heaters, providing a comfortable and appealing living experience for tenants. The property is individually metered for gas and electricity, includes brand new water heaters in each unit, and tenants are responsible for their own trash, reducing landlord operating expenses. Additionally, an on-site laundry room offers potential for added revenue, currently not operational and with no lease on the equipment. With this rare buying opportunity, an investor will have the opportunity to capture over 45% rental upside by renovating units and taking advantage of the fundamentals fueling the rental neighborhood of the Huntington Beach community for decades to come. Broker of Record David Harrington License No. 02168060 (CA) (866) 889-0550 Matthews Real Estate Investment Services, Inc 2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$428 USD /SF

# OF UNITS

4

PRICE/UNIT

$475,000

CAP RATE

3.47%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

R35P2,Huntington Bch

APN/PARCEL ID

142-411-15

ASK ABOUT THIS PROPERTY

Kyle MirrafatiMatthews Real Estate Investment ServicesMore Info
949-200-7494

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Kyle MirrafatiMatthews Real Estate Investment ServicesMore Info
949-200-7494

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.