8162 La Paz Drive, Huntington Beach, CA 92647
- $2,700,000
- Sold Price
- $2,700,000
- List Price
- $2,748,000
- Closing Date
- Oct 20, 2023
- Status
- CLOSED
- MLS#
- NP23141423
- Year Built
- 1967
- Lot Size
- 9,148
- Acres
- 0.21
- Lot Location
- 2-5 Units/Acre, Sprinkler System
- Days on Market
- 14
- Property Type
- Multifamily
- Style
- Spanish
- Property Sub Type
- Apartment
- Stories
- One Level
Property Description
Don't miss the rare chance to invest in one of the most lucrative real estate markets in all of California with this Beautiful Modern Spanish style 5-unit Muti-Family Property located at the end of a tranquil cul-de-sac in the heart of Huntington Beach. Currently pulling in an impressive GOI of $159,578 with potential for increased income after close and priced at a high cap rate of 4.08% and only $549,000 a door, this is one not to be missed! This picturesque property features well maintained grounds and units with private balconies and patios, courtyard and garden views, as well as updated appliances. The front home features an est. 1400 sq. ft., with 3 bed, 2 bath-plus den, which is ideal for owner occupancy or top of market rent and features a bevy of modern updates including a reimagined kitchen with quartz countertops and Shaker cabinetry, newer appliances, modern bathrooms, newer windows, inside laundry room, dining room with ambient lighting, fireplace, as well as two spacious patios perfect for outdoor lounging and refreshments. Additional apartments all offer spacious open floor plans with large bedrooms and ample closet space. There are a total of three 2 car garages, one 1 car garage, and an extra assigned spot for ample parking. A shared laundry room offers additional income and there is an owner’s storage room that can be accessed through it. Recent building upgrades include newly installed drought tolerant landscaping, updated exterior paint, recently installed central water heater, newer electrical panels, handsome hardscaping, and Ring camera system. Nestled in a quiet residential area just minutes from fine dining, nightlife, entertainment, Bella Terra outdoor mall, and legendary beaches + surf, this gorgeous building brimming with pride of ownership offers the ideal investment opportunity in one of SoCal’s most desirable beachfront communities. Looking for another great income property, please see the owner's other new listing at 7872 Liberty Dr, Huntington Beach. Schedule a tour today to become the new proud owner of this one of a kind Five-Unit low-rise Garden complex.
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Additional Information
- Appliances
- Dishwasher, Electric Oven, Electric Range, Disposal, Gas Water Heater, Microwave, Water Heater
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Radiant
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- None
- Roof
- Flat, Spanish Tile
- Garage Spaces Total
- 7
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Balcony, Granite Counters, Open Floorplan, Quartz Counters, Recessed Lighting, Storage
- Attached Structure
- Detached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $159,900
- Operating Expense
- 47391
Listing courtesy of Listing Agent: Damon Mazzano (dmazzano@yahoo.com) from Listing Office: Ron Mazzano, Broker.
Listing sold by Thomas Tran from Advance Estate Realty
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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.