2248 Manchester Avenue , #5

    Cardiff By The Sea, CA 92007
    • $2,700,000
    • STATUS: Closed
    • ON SITE: 33 days
    • ID#: OC19221370
    Sold - 10/11/2019
    $2,700,000
    SOLD - 10/11/2019
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,200
      SQFT
    • $844
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    This is an incredible value-add opportunity which is walking distance to the beach. The units are below market rent and if refurbished there is significant rental income upside. Unit 5 (1+1) is not fully permitted. This unit just needs a permit for the kitchen which appears to be built to code however Buyerneeds to verify. Very close walk to retail and restaurants. REQUEST OFFERING MEMORANDUM.

    Sold by Dave Plutner of Dp Properties.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T00:34:56.857. 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 Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/99015081

    2248 Manchester Avenue , #5 Cardiff By The Sea, CA 92007

    • Price: $2,700,000
    • Status: Closed
    • ID#: OC19221370
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    3,200
    SQFT
    $844
    $/SQFT
    1972
    Built
    Neighborhood:
    CAS - Cardiff by the Sea
    County:
    San Diego
    Area:
    CAS - Cardiff by the Sea
    Property Description
    This is an incredible value-add opportunity which is walking distance to the beach. The units are below market rent and if refurbished there is significant rental income upside. Unit 5 (1+1) is not fully permitted. This unit just needs a permit for the kitchen which appears to be built to code however Buyerneeds to verify. Very close walk to retail and restaurants. REQUEST OFFERING MEMORANDUM.
    Exterior Features

    Architectural Style Traditional Garage Spaces 0.00 Lot Features 2-5 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features ConcreteTandem Uncovered Parking Total 9.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Roof Composition View Park/GreenbeltPeek-A-Boo View YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 638 Average1 Bed Area Units Square Feet Average2 Bed Area 800 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling None Cooling YN No Flooring Carpet Heating Wall Furnace Heating YN Yes Laundry Features Common AreaDryer IncludedWasher Included Levels Three Or More

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 2.25 Community Features BikingPark Country Us Electric Expense 1025.00 Elevation Units Feet Fuel Expense 438.00 Gross Income 97260.00 Gross Multiplier 27.76 Gross Scheduled Income 95160.00 Insurance Expense 2243.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 2100.00 Laundry YN Yes Net Operating Income 60691.00 New Construction YN No New Taxes Expense 29657.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 36569.00 Professional Management Expense 637.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityTelephone Total Actual Rent 7930.00 Total Expenses 36569.00 Trash Expense 1272.00 Utilities Sewer ConnectedWater AvailableWater Connected Water Sewer Expense 996.00 Water Source Public Year Built Source Assessor Zoning R4

    Listing provided courtesy of John Gessford of First Team Estates and Cindy Dephillips of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T00:34:56.857. 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 Allison James Estates and Homes. Licensed in the State of California, USA.
     
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