Condominium buy in Huntington Beach California

A highly desirable 5 unit building which is currently configured as 6 units located in the coastal market of Huntington Beach. The property shows well with a freshly painted exterior. New water heater was just installed. The excellent unit mix consists of four 2 bedroom 1 bath and two 1 bedroom 1 bath. One of the 2 bedroom units and one of the 1 bedroom units were originally configured as a 3 bedroom 2 bath and can easily be converted back. Built in 1978. Six enclosed garages. The building is located just off Beach Blvd. near Target, Pavilions, Bella Terra Mall, and the 405 freeway. Drive down Beach Blvd. straight to the beach. Huge upside/value add opportunity to increase rents approx. 44%. Priced at a 4.57% cap rate on realistic projected market rents. Excellent value add 1031 exchange property in a great location. Expenses are estimated. Gross multiplier and cap rate are based on market rents. Laundry room on the premises is currently not being used - potential for more income for the buyer. MLS® ID: PW22238337 Listed: 11/7/22 Updated: 11/9/22 Interior Features Total Bedrooms: 0 Total Bathrooms: 0 Laundry Description: Common Area Fireplace: None Cooling: None Exterior/Building Features Lot Size: 8,276 ft2 lot Lot Details: 0-1 Unit/Acre Sewer: Sewer Tap Paid Other Property Details Area Name: 17 - Northwest Huntington Beach HOA Amenities: Curbs, Street Lights, Suburban, Sidewalks Garage: Yes Garage Spaces: 6 Parking: Y Parking Total: 6.0 View: Y County: Orange Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected Water Source: Public Pool: No Pool Description: None Total Stories: 2 Courtesy of Re/Max Property Connection, Michael Lembeck, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 11/9/22. 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.