428 Monterey Lane, San Clemente, CA 92672

$2,450,000
List Price
$2,450,000
Status
ACTIVE
MLS#
PW21069119
Year Built
1963
Lot Size
6,665
Acres
0.15
Lot Location
Item25UnitsAcre
Days on Market
5
Property Type
Multifamily
Stories
Two Levels

Property Description

We are pleased to present the Capri Apartments, a 5+1 unit investment opportunity located in the quaint Spanish seaside community of San Clemente. Perched atop the city's highly coveted "Pier Bowl", the Capri Apartments offer breathtaking, million-dollar ocean views from all units except the non-conforming studio. Furthermore, the property is just steps from pristine beaches, Historical San Clemente Pier, and San Clemente Beach Trail, plus an array of restaurants and shops just a mere two blocks over in the city’s “Avenida Del Mar” or “Downtown” as locals know it. Some interiors have received recent upgrades with the others available for improvement and dramatically increased rents. A diverse unit mix of studio, 1 & 2-bedroom units create opportunity for renters of all types who’d like to enjoy living in this one of a kind location. Amenities as ocean-view balconies, on-site laundry, carport and garage parking along with it’s proximity to the coastline further enhance the appeal to potential renters and/or vacationers The Capri Apartments offers multiple outlets of amazing growth potential, whether it is through continued upgrades and increased rents or capitalize on seldom-available, exclusively limited short-term vacation rentals in which the property is zoned for making this coastal asset a welcomed and smart additional to any investor’s portfolio. *Property is legally 5 units + 1 non-conforming unit

Additional Information

Pool Description
None
Garage Spaces Total
1
Sewer
Public Sewer
Water
Public
Number Of Units Total
6
Gross Scheduled Income
$118,800
Operating Expense
42250

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Rick Applebaum from Morgan Skenderian

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.