Est. cap rate

2.2%

Assumed rent, all units

$8,310/mo

Units

3

Price per unit

$766,667

Est. annual NOI

$49,860

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Triplex

Bedrooms

4

Bathrooms

3

Building size

1,928 sqft

Lot size

4,356 sqft

Year built

1956

Stories

2

Garage spaces

2

Style

Mid Century Modern

Heating

Wall Furnace,Central

Cooling

None

Pool

None

View

Neighborhood

Status

Active

Days on market

33

MLS #

247059905

About this property

Set in one of San Clemente’s most up-and-coming neighborhoods, this mid-century North Beach triplex sits half a block from the ocean and close to many of the area’s exciting attractions. Each unit has a distinctly mid-century beach feel with beamed ceilings, appealing geometric lines, laminate wood-look flooring throughout, white cabinetry, and quartz countertops. All units are turnkey with the previous owner’s extensive renovations combined with the current owner’s improvements of all-new electrical panels (2024), new water heater in the 1-bedroom unit (2024), and a reverse osmosis water filtration system in the 2-bedroom unit (2023). Set furthest back from the street, Unit C offers 2 bedrooms and 1 bath, a generously sized open floor plan, fireplace, and completely enclosed private wraparound yard complete with garden boxes. In the center of the building, Unit B offers 1 bedroom and 1 bath, an airy and open living area, and a massive private deck looking out to the neighborhood. At the front of the building, Unit A is a ground-level Studio with small fridge & freezer, induction cooktop, microwave, double-basin sink, and a private bathroom with walk-in shower. Each residence conveniently has a dedicated driveway parking spot, and Unit C currently has exclusive use of the 2-car garage. Both in-unit laundry and dedicated parking are difficult to come by for multifamily investments in this area. This turnkey investment opportunity is currently producing $117,600 in gross annual income and located in close proximity to the beloved surf break 204’s, the new Miramar Food Hall, a 2.5-mile beach trail, neighborhood coffee shops, and bars. Also an easy bike, golf cart, or walk to Downtown’s Avenida Del Mar, and the train stops close by for commuters. A unique multifamily investment with location and architectural flair, truly a rare opportunity in San Clemente.

Location

228 Avenida Pelayo

San Clemente, Orange, CA, 92672