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Sherry Ramos

sherry.ramos@engelvoelkers.com +1(818) 429-2793

$ 1,850,000

Est. payment -/mo

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Active Under Contract

227 W Canada #1-3 San Clemente, CA 92672

2,322 SqFt

UPDATED:

10/09/2024 08:37 PM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 2,322 sqft

Price per Sqft $796

Subdivision ,Beach & Downtown Close Location

MLS Listing ID OC24130519

Construction Status Turnkey

HOA Y/N No

Year Built 1964

Lot Size 3,920 Sqft

Property Description

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.

Location

State CA

County Orange

Area Sw - San Clemente Southwest

Rooms

Ensuite Laundry Common Area, Laundry Room

Interior

Interior Features Primary Suite

Laundry Location Common Area,Laundry Room

Heating Wall Furnace

Cooling None

Inclusions Washer and dryer, sink in basement area

Fireplace No

Appliance Gas Cooktop, Disposal, Refrigerator, Dryer, Washer

Laundry Common Area, Laundry Room

Exterior

Garage Attached Carport, Covered, Carport, On Site, One Space, Tandem, Uncovered

Carport Spaces 3

Pool None

Community Features Street Lights, Sidewalks, Park

Waterfront Description Ocean Side Of Freeway

View Y/N Yes

View Neighborhood, Ocean, Peek-A-Boo

Parking Type Attached Carport, Covered, Carport, On Site, One Space, Tandem, Uncovered

Total Parking Spaces 6

Private Pool No

Building

Lot Description Back Yard, Level, Near Park, Yard

Story 2

Entry Level Two,Multi/Split

Sewer Public Sewer

Water Public

Level or Stories Two, Multi/Split

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 69208225

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Energy Description 1596.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Johanna Andren • Compass • 949-293-2196

Sherry Ramos

Advisor | License ID: 01271018

+1(818) 429-2793

Sherry Ramos

227 W Canada #1-3 San Clemente, CA 92672

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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227 W Canada #1-3