227 W Canada #1-3 Active Save Request In-Person Tour Request Virtual Tour
San Clemente,CA 92672
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Beach & Downtown Close Location
MLS Listing ID OC24130519
Year Built 1964
Lot Size 3,920 Sqft
Property Description
Unbeatable Triplex Opportunity! Discover this exceptional triplex, perfectly positioned and located in the heart of coastal San Clemente within walking distance to 3 beach access points, parks, schools & easy bike or walk to downtown shops & restaurants! Bonus feature is the sellers have City approved plans to add two additional free standing 1 br, 1 ba ADUs if new buyer wants to add units in the open rear yard area to increase yearly revenues! Now offered at an enhanced price of $1,799,900, presenting a fantastic investment opportunity. Property boasts a large lot w/6 onsite parking spots, 3 covered and 3 uncovered, plus a spacious rear lot area with potential for building the 2 additional ADU units or enhancing outdoor living space. Building is comprised of three units, each offering a unique set of features & rental potential. Unit #1 is a 1 bed/1 ba with an oversized private balcony on the front of the building; currently leased on a month-to-month basis. Unit #2, also a 1 bed/1 ba, has been renovated & offers a private exterior balcony & peek ocean views from the balcony & living room & is leased through 2025. Unit #3 is a 2 bed/2 bath, features rear exterior patio & deck areas & is leased on a month to month basis. Total current annual income of $83,640 w/PRO FORMA income of $96,000. This property presents an exciting investment opportunity & includes the City of San Clemente approved ADU plans for TWO detached 1 bed/1 bath 480 sq ft units totaling 960 additional sq ft. The ADU's have potential to increase the annual income by $72,000. Seller will provide ADU building plans, soils report & topographic survey to buyer; property has been surveyed & staked for construction. ADU application is active until 4/2025 & can be extended if the process is resumed before that time according to the city (buyer to verify). The bldg is well-maintained and offers a range of opportunities for future development/income growth. With its prime location w/in walking distance to the beach & a spacious lot, this triplex is a rare find in the South OC real estate market. Value Added features include a new main water line, newly relined main sewer & upgraded water heater. The property also features a very large unfinished basement that could be reimagined as a community room, game room, gym or outfitted for tenant storage producing additional income. Onsite laundry room w/ potential for additional income of $400 monthly.
Location
State CA
County Orange
Area Sw - San Clemente Southwest
Interior
Heating Wall Furnace
Cooling None
Inclusions Washer and dryer, sink in basement area
Laundry Common Area,Laundry Room
Exterior
Garage Attached Carport,Covered,Carport,On Site,One Space,Tandem,Uncovered
Pool None
Community Features Street Lights,Sidewalks,Park
Waterfront Description Ocean Side Of Freeway
View Y/N Yes
View Neighborhood,Ocean,Peek-A-Boo
Building
Lot Description Back Yard,Level,Near Park,Yard
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard