UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Pending
Purchase Type For Sale
Subdivision Downtown Area (Down)
MLS Listing ID OC26052816
Construction Status Repairs Cosmetic,Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1963
Lot Size 6,534 Sqft
Property Sub-Type Triplex
Property Description
The front unit is a 3-bedroom, 2-bath with inside laundry, a detached two-car garage, and a large private backyard, creating the feel of a single-family home. The middle unit offers 2 bedrooms and 2 baths, inside laundry, a two-car attached garage without direct access, and a spacious backyard. This unit was extensively remodeled approximately three years ago with new flooring, cabinetry, countertops, updated bathrooms and shower, and fresh paint. The upper carriage unit, located above the garages, is a spacious 1-bedroom, 1-bath featuring two private balconies that capture refreshing ocean breezes. New carpeting was installed about four years ago.
The property has been meticulously maintained by a longtime owner and features mature landscaping with a drip irrigation system. Utilities include three separate gas meters and three separate electric meters. The landlord currently pays water and trash. All units include full kitchens and tenants own their refrigerators.
All units are currently occupied by long-term tenants who would like to remain while understanding rents will adjust toward market levels. Current gross scheduled income is approximately $85,800 annually (4.3% cap rate), with projected market rents estimated to bring gross scheduled income to approximately $113,000, offering strong upside potential.
Conveniently located about one mile from Downtown Huntington Beach, the property offers easy access by bike, walk, or skateboard to shops, restaurants, and entertainment. The beach is approximately 1.5 miles away, with a park just around the corner and everyday shopping within walking distance. A rare opportunity to own a well-located income property in one of Orange County's most sought-after beach communities.
Location
State CA
County Orange
Area 15 - West Huntington Beach
Interior
Interior Features Open Floorplan, Recessed Lighting, Bedroom on Main Level, Main Level Primary, Primary Suite, Walk-In Closet(s)
Heating Forced Air, Wall Furnace
Cooling None
Flooring Carpet, Vinyl
Fireplaces Type Electric, Living Room
Fireplace Yes
Appliance Exhaust Fan, Free-Standing Range, Disposal, Gas Water Heater, Range Hood, Water Heater
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside
Exterior
Exterior Feature Lighting
Parking Features Door-Single, Garage, No Driveway, Private, Garage Faces Rear, One Space
Garage Spaces 4.0
Garage Description 4.0
Fence Vinyl, Wood
Pool None
Community Features Curbs, Street Lights, Sidewalks
Utilities Available Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
Waterfront Description Ocean Side Of Freeway
View Y/N Yes
View Neighborhood
Roof Type Flat
Accessibility No Stairs, Accessible Doors
Total Parking Spaces 5
Private Pool No
Building
Lot Description Back Yard, Drip Irrigation/Bubblers, Front Yard, Sprinklers In Front, Lawn, Landscaped, Yard
Faces West
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Cottage
Level or Stories Two
New Construction No
Construction Status Repairs Cosmetic,Updated/Remodeled,Turnkey
Others
Senior Community No
Tax ID 02508113
Security Features Smoke Detector(s)
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Trust
Virtual Tour https://tours.previewfirst.com/ml/158273
Lease Land No
NEARBY SCHOOL & BUSINESS
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