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In-PersonVirtual Tour
$ 3,200,000
Est. payment | /mo
4,948 Sqft Lot
$ 3,200,000
Est. payment | /mo
4,948 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2502048
HOA Y/N No
Year Built 1977
Lot Size 4,948 Sqft
Property Description
We are pleased to present 2024-30 Montgomery Ave. Apartments, an exclusive coastal multifamily rental property in Cardiff-by-the-Sea community and located west of Interstate 5. The subject property financials are extremely attractive for a prime coastal rental property with a current 4.11% CAP rate / 5.01% Proforma CAP rate, along with a current 17.09 GRM / Proforma 14.73 GRM. The subject property is also comprised of roughly 3,050 SF living space with a total of five units. The approximately 4,984 SF lot provides five surface parking spaces accessed from the rear alley along with spacious common area along the front and side of the property for tenants to enjoy a barbecue and other social activities. The current unit mix includes (1) two bedroom / one bath unit, (3) one bedroom / one bath units, and (1) studio unit. The building was built in 1977, and all units were completely renovated approximately eight years ago by the previous owner. The current owner has maintained all the interiors, exterior, and common areas in meticulous condition. The subject property is also within very close walking distance to some of the very best amenities that Cardiff-by-the-Sea has to offer tenants. For example, the San Elijo State Beach is only a few blocks to the west along with shopping and eating options such as Best Pizza & Brew, Cardiff Seaside Market, Chase Bank, Cardiff Library, Post Office, 7-Eleven, and more local businesses.
Location
State CA
County San Diego
Area 92007 - Cardiff By The Sea
Zoning R11
Interior
Fireplace No
Laundry Stacked
Exterior
Pool None
Community Features Curbs
View Y/N No
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Sewer Public Sewer
Others
Senior Community No
Tax ID 2603825000
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Virtual Tour https://vimeo.com/1018314231
Listed by Kenneth Herskind • Top Gun CRE • kenh@topguncre.com
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "