244-246 W Avenida Palizada - Apartments FOR SALE


San Clemente, CA 92672
$2,395,000 USD
949-500-5099
244-246 W Avenida Palizada, San Clemente, CA for Sale
$2,395,000 USD
Apartments - FOR SALE
1/13
null | 4.03% Cap Rate

244-246 W Avenida Palizada
San Clemente, CA 92672


HIGHLIGHTS

  • 1 ½ Blocks to the Beach, Linda Lane Park & Casa Romantica and 2 Blocks to Avenida Del Mar
  • Majority Single-Story Units with Canyon Views
  • Added Value Opportunity – ±20% in Projected Rental Upside
  • Patios, Balconies, On-Site Parking, Laundry
  • Large ±12,196 SF Lot

OVERVIEW

Morgan Skenderian is pleased to present 244 West Avenida Palizada, situated in a prime location just 1.5 blocks from the beach, scenic Linda Lane Park, and Casa Romantica. Built in 1960, the subject is comprised of five units plus one non-conforming unit. Essentially, all units are single-story and offer stunning canyon views, patios, and balconies, on-site laundry, and parking for each unit. Additionally, renters are attracted to this location for its easy access to the vibrant downtown scene, just 2 blocks away on Avenida Del Mar. With an added value opportunity of approximately ±20% in rental upside, and a spacious ±12,196 SF lot allowing for potential redevelopment, this property presents a compelling proposition for astute investors seeking a prime residential income opportunity. *Studio is non-conforming.

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$701 USD /SF

# OF UNITS

6

PRICE/UNIT

$399,167

CAP RATE

4.03%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,196 SF

ZONING

-

APN/PARCEL ID

692-051-04

ASK ABOUT THIS PROPERTY

Rick ApplebaumMorgan-Skenderian Investment Real Estate GroupMore Info
949-500-5099

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Rick ApplebaumMorgan-Skenderian Investment Real Estate GroupMore Info
949-500-5099

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