Listed by Michael Lembeck with Re/Max Property Connection

7851 Glencoe Drive

Huntington Beach, CA, 92647

$2,975,000

$761 per ft²
$2,975,000
$761 per ft²
Active
Active
 - For Sale
carpenters-square
3,908 ft²
property_type
Multi-family
calendar
Built 1978
A highly desirable 5 unit building which is currently configured as 6 units located in the coastal market of Huntington Beach. The property shows well with a freshly painted exterior. New water heater was just installed. The excellent unit mix consists of four 2 bedroom 1 bath and two 1 bedroom 1 bath. One of the 2 bedroom units and one of the 1 bedroom units were originally configured as a 3 bedroom 2 bath and can easily be converted back. Built in 1978. Six enclosed garages. The building is located just off Beach Blvd. near Target, Pavilions, Bella Terra Mall, and the 405 freeway. Drive down Beach Blvd. straight to the beach. Huge upside/value add opportunity to increase rents approx. 44%. Priced at a 4.57% cap rate on realistic projected market rents. Excellent value add 1031 exchange property in a great location. Expenses are estimated. Gross multiplier and cap rate are based on market rents. Laundry room on the premises is currently not being used - potential for more income for the buyer. SUBMIT ALL OFFERS!
MLS® ID:
PW22238337
Listed:
11/7/22
Updated:
3/24/23
NMC Realty
Mobile: (949) 922-8148Email: info@nmcrealty.com

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area
Fireplace
None
Cooling
None

Exterior/Building Features

Lot Size
8,276 ft² lot
Lot Details
0-1 Unit/Acre
Sewer
Sewer Tap Paid

Other Property Details

Area Name
17 - Northwest Huntington Beach
Association Amenities
Curbs, Street Lights, Suburban, Sidewalks
Garage
Yes
Garage Spaces
6
Parking
6
Parking Total
6.0
View
Y
County
Orange
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Buyer Agency Compensation
2.000

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/24/23. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/24/23 at 3:57 PM UTC

NMC Realty
Mobile: (949) 922-8148Email: info@nmcrealty.com
Contact