510 Avenue Alhambra, El Granada, CA, CA 94018
- $3,750,000
- List Price
- $3,750,000
- Status
- ACTIVE
- MLS#
- ML82046224
- County
- San Mateo
- Zoning
- C-1/S-3/DR, SM County
- Year Built
- 1973
- Square Feet
- 9,756
- Lot Size (acres)
- 0.3326
- Days on Market
- 84
- Property Type
- Commercial
Property Description
Welcome to the Beach Surf View Apartments located at 510 Avenue Alhambra in El Granada; a rare coastal nine (9) unit multifamily investment opportunity in the highly desirable Pillar Point neighborhood of El Granada. -- This well-maintained property offers stunning ocean views from every unit and an exceptional unit mix of three (3) spacious 2-Bedroom/1-Bath Penthouse units (~1,000 sqft) and six (6) classic 2-Bedroom/1-Bath units (~675 sqft). -- Originally constructed in 1973 and situated on a 14,490 sqft lot, the property features approximately 9,756 sqft of improvements with 7,479 sqft of rentable space. Each unit is individually metered with all-electric appliances, and the penthouse units include in-unit washer/dryers. -- Property amenities include nine (9) carports plus two (2) open spaces, on-site laundry for units without in-unit laundry, bike storage, resident storage lockers, and an owners storage room with bathroom and sink. -- SB-721 INSPECTION IS COMPLETED/PASSED, offering added peace of mind for investors. Ideally located just a short 10-minute walk to the beach and coastal promenade, this asset combines strong in-place income (5.13% cap rate & 13.01 GRM) with long-term upside in one of the Peninsulas most supply-constrained coastal communities.
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Additional Information
- Taxes
- $41,456
- Parcel Number
- 047204110
- Gross Scheduled Income
- $288,300
- Heat
- Electric
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Bitumen, Tar/Gravel
- Parking Spaces
- 2
- Water
- Public
- School District
- Other
- Elementary School
- Other
- Middle School
- Other
- High School
- Half Moon Bay
Listing courtesy of Listing Agent: Nate Gustavson (nate@gustavsongroup.com) from Listing Office: Compass.
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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.