314 Avenida Madrid, San Clemente, CA 92672
- $1,875,000
- Sold Price
- $1,875,000
- List Price
- $1,925,000
- Closing Date
- Dec 30, 2024
- Status
- CLOSED
- MLS#
- OC24243456
- Year Built
- 1971
- Lot Size
- 3,664
- Acres
- 0.08
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 0
- Property Type
- Multifamily
- Style
- Traditional
- Property Sub Type
- Triplex
- Stories
- Two Levels
- Neighborhood
- Other
Property Description
Attention investors seeking strong cash flow and significant appreciation potential: this rare coastal triplex in San Clemente is the opportunity you've been waiting for. Perfectly positioned just one block from the sand and the iconic San Clemente Pier, this prime property combines immediate rental income with long-term growth in one of the most desirable areas of Southern California. With proximity to world-class surfing, scenic oceanfront trails, and a thriving downtown featuring trendy dining spots and a popular farmers market, tenant demand here is strong. The property features two vacant two-bedroom, one-bath units that are ready to rent at market rates for immediate income or can be updated to maximize returns. Additionally, it includes an oversized one-bedroom, one-bath unit with a partial ocean view, currently rented and generating consistent cash flow. For added convenience, there are three single-car garages each with their own driveway- level with the street, an essential feature for beachside tenants. The property also includes a separate laundry room equipped with a washer and dryer, offering the potential to convert it into a coin-operated facility for additional revenue. Recent upgrades, such as new furnaces in each unit, add further value and appeal. This property offers exceptional flexibility for investors seeking steady rental income or those looking to renovate and enhance value. Alternatively, it provides an excellent opportunity for owner-occupants to enjoy the ultimate beach lifestyle by living in one unit while renting out the others. With an excellent cap rate, low-maintenance design, and an unbeatable location in one of the most sought-after areas of San Clemente, this property is priced to sell quickly. Whether you’re an experienced investor or looking to enter the coastal real estate market, this triplex offers immediate returns and long-term growth potential. Don’t let this chance to own a piece of San Clemente’s coveted coastal paradise slip away!
/u.realgeeks.media/ericengelbert/Realtor-Orange-County.png)
Additional Information
- Appliances
- Dishwasher, Disposal, Gas Range, Microwave, Refrigerator, Water Heater, Dryer, Washer
- Pool Description
- None
- Heat
- Forced Air
- Cooling Description
- None
- View
- Neighborhood, Ocean, Peek-A-Boo
- Exterior Construction
- Drywall, Stucco
- Roof
- Flat, Shingle
- Garage Spaces Total
- 3
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Balcony, Ceiling Fan(s), Bedroom on Main Level, Main Level Primary
- Attached Structure
- Attached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $102,630
- Operating Expense
- 31361
Listing courtesy of Listing Agent: Candice Blair (candice@candiceblairgroup.com) from Listing Office: Coldwell Banker Realty.
Listing sold by Candice Blair from Coldwell Banker Realty
Mortgage Calculator
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.