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Key Details
Sold Price $2,398,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NP23141560
Sold Date 11/29/23
HOA Y/N No
Year Built 1979
Lot Size 8,712 Sqft
Property Description
Looking for the ultimate investment income opportunity in one of the world’s most legendary seaside communities? Well, you found it in this Pride of Ownership cash-flowing Quadruplex situated in the highly sought-after Huntington Beach, CA – Surf City, USA, with an additional 1-bedroom 1-bath income unit with a market rent of $2100. This attractive Muti-Family Property is located in an ideal rental location close to various dining options, entertainment, shopping, renowned beaches, transportation and the 405 freeway. Currently operating close to market rent with a GOI of $144,176 with significant potential for increased income and priced at a high cap rate of 4.26% at only $479,600 a door! This complex features an est. 1500 sq. ft., 3 bedrooms, 2 bath front townhome, which features private inside laundry room, spacious living room fireplace, recessed lighting, open kitchen with bar seating and granite countertops, 2 upstairs balconies, 2 car garage, and large side patio that could be utilized for future owner occupancy. The additional units all have spacious floor plans and are nicely equipped with appliances and first floor 2-bedroom apartment has a spacious enclosed backyard. Recent building upgrades include updated exterior paint, newer central water heater, Ring cameras, and a newly landscaped courtyard. This property has a shared laundry room which generates additional income, 6 total garages, individual unit balconies or patios, owner's storage room, automatic sprinkler system, and a large driveway/carport for additional parking. Located just minutes from fine dining, nightlife, entertainment, Downtown Huntington beach, Bella Terra outdoor mall, and the best surfing and beaches, this property offers an amazing investment opportunity in one of SoCal’s most desirable areas. Looking for another great income property, please inquire about the owner’s other listing at 8162 La Paz Dr. Huntington Beach. Please call now to schedule a tour today to become the new proud owner of this impressive low-rise garden complex.
Location
State CA
County Orange
Area 14 - South Huntington Beach
Zoning R3
Interior
Interior Features Ceiling Fan(s), Granite Counters, Open Floorplan
Heating Forced Air, Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate, Vinyl
Fireplaces Type Living Room
Fireplace Yes
Appliance Dishwasher, Disposal, Gas Oven, Gas Range, Microwave, Water Heater, Dryer, Washer
Laundry Common Area
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Flat,Tile
Total Parking Spaces 6
Private Pool No
Building
Lot Description 2-5 Units/Acre, Back Yard, Sprinkler System
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 16531213
Security Features Smoke Detector(s)
Energy Description 3868.0
Acceptable Financing Cash, Conventional, 1031 Exchange, VA Loan
Listing Terms Cash, Conventional, 1031 Exchange, VA Loan
Financing Trade
Special Listing Condition Standard, Trust
Lease Land No
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Bought with Jorge Felix • CB Richard Ellis, Inc.