100% Gut-Renovated 9-unit building in Belmont Shore cash flowing at an amazing Current Cap Rate of 5.25% and 13.6 GRM. All units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems,… Read More stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. The unit mix provides unparalleled versatility, including 2 spacious (2bed/1bath) units ideal for families, as well as 5 modern (1bed/1bath) units, and 2 (studio/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency (4 vacant). On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. The property is located in the heart of Belmont Shore within walking distance of the Pacific Ocean and the Beach. Located just steps away from all the neighborhood attractions, restaurants, bars, and shops on 2nd St such as Sait & Second, Nick's on 2nd, The Win~Dow, Simmzy's, Roe Seafood, Breakfast Republic, Sweet Jill's Bakery, Galata Ice Cream, and many more popping up all around the area. Read Less
Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
9
Square Ft.
4,272
Lot Size
0.07 Acres
Year Built
1954
MLS Number
24463345
30 Days Snapshot Of 90803
$1,330k
-18%
(avg) sold price
28
+3%
homes sold
95
+23%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1954, Building area total: 4,272, Levels: Two, Living area: 4272, 2 stories, 1 building, Architectural style: Traditional
Income
Gross income: $300,480, Net operating income: $212,819
Lot
0.0725 acres, 3,160 square feet, Size: 3,160
Parking
None
Property
Zoning: LBR4R
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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