7851 Glencoe Drive, Huntington Beach, CA 92647

$2,975,000
List Price
$2,975,000
Status
ACTIVE
MLS#
PW22238337
Year Built
1978
Lot Size
8,276
Acres
0.19
Lot Location
Item01UnitAcre
Days on Market
79
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels
Neighborhood
Other (Othr)

Property Description

A highly desirable 5 unit building which is currently configured as 6 units located in the coastal market of Huntington Beach. The property shows well with a freshly painted exterior. New water heater was just installed. The excellent unit mix consists of four 2 bedroom 1 bath and two 1 bedroom 1 bath. One of the 2 bedroom units and one of the 1 bedroom units were originally configured as a 3 bedroom 2 bath and can easily be converted back. Built in 1978. Six enclosed garages. The building is located just off Beach Blvd. near Target, Pavilions, Bella Terra Mall, and the 405 freeway. Drive down Beach Blvd. straight to the beach. Huge upside/value add opportunity to increase rents approx. 44%. Priced at a 4.57% cap rate on realistic projected market rents. Excellent value add 1031 exchange property in a great location. Expenses are estimated. Gross multiplier and cap rate are based on market rents. Laundry room on the premises is currently not being used - potential for more income for the buyer. SUBMIT ALL OFFERS!

Additional Information

Pool Description
None
Cooling Description
None
View
None
Exterior Construction
Stucco
Garage Spaces Total
6
Sewer
SewerTapPaid
Water
Public
Attached Structure
Attached
Number Of Units Total
6
Gross Scheduled Income
$136,800
Operating Expense
34200

Listing courtesy of Listing Agent: Michael Lembeck (mike@socalmultifamilybroker.com) from Listing Office: Re/Max Property Connection.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.