227 W Canada
San Clemente, CA, 92672
$1,850,000
Beds
0 Baths
SqFt
0.09 Acres
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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.

Property Details

Price:
$1,850,000
MLS #:
OC24130519
Status:
Active
Baths:
0
Address:
227 W Canada
Type:
Residential Income
Subtype:
Triplex
Neighborhood:
swsanclementesouthwest
City:
San Clemente
Listed Date:
Jun 25, 2024
State:
CA
ZIP:
92672
Lot Size:
3,920 sqft / 0.09 acres (approx)
Year Built:
1964
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Schools

Interior

Appliances
Disposal, Gas Cooktop, Refrigerator
Cooling
None
Heating
Wall Furnace
Window Features
Double Pane Windows

Exterior

Community Features
Sidewalks, Street Lights
Garage Spaces
0.00
Lot Features
Back Yard, Level, Park Nearby, Yard
Parking Features
Carport, Attached Carport, On Site, Parking Space, Tandem Covered, Tandem Uncovered
Parking Spots
6.00
Pool Features
None
Security Features
Carbon Monoxide Detector(s), Smoke Detector(s)
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
Neighborhood, Ocean, Peek- A- Boo
Water Source
Public

Financial

Association Fee
0.00

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Community

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