Sold
402 Corto Lane
San Clemente CA, 92672
$3,200,000
$740.74 per sqft
Sold
4,320 sqft
Condo
Built in 1964
Listed by Doug Echelberger with Pacific Sotheby's Int'l Realty 949-498-7711
Rare 4-plex opportunity in San Clemente's Short Term Rental Zone is just 400 yards from surfing breaks in San Clemente. This beach-close four-unit apartment building presents an extraordinary investment opportunity. The building consists of two units that are both 2 bedroom, 2 bath; another unit that's 2 bedroom, 1 bath, and the largest being 3 bedroom, 2 bath. Open-concept floorplans display dine-in kitchens, spacious living rooms, fully appointed baths, and a covered carport space for each unit. Unit three is the largest and hosts a dining room and primary suite with a sunny balcony. This is the perfect configuration for an owner's suite inside the 4-plex. The property is located along a cul-de-sac street with direct beach access. Hands down one of the best locations in town to own an income property as you are surrounded by luxury beach property and the building is moments from shops and restaurants on Del Mar, San Clemente's classic pier, parks, and hiking trails. Within a few minutes you can be at the beach, having dinner on the San Clemente Pier, or shopping downtown. Income numbers are run on the actual rent. Pro Forma rent for a 12 month rental would be Gross Income $142,800 and about a 3.6% cap, projected vacation rental income is approximately $324,000. Projections for Vacation Rental can be provided separately by a third party.
OC22141756
MLSⓇ ID
August 2, 2022
Listed
March 23, 2024
Updated
Map
402 Corto Lane
San Clemente CA, 92672
Interior Features
Total Stories
2
Interior Features
Built-in Features, Granite Counters, High Ceilings, Open Floorplan, Recessed Lighting
Appliances
Dishwasher, Gas Range, Microwave, Range Hood, Water To Refrigerator
Laundry Description
Common Area
Floor Description
Carpet, Tile, Wood
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.1 Acres
Lot Features
Back Yard, Landscaped, Street Level, Walkstreet, Yard
Roof
Spanish Tile
Sewer
Public Sewer
Other Property Details
Area Name
SC - San Clemente Central
Days on Market
6
Garage
No
Parking
Carport
Parking Total
8
View
Yes
View Description
Neighborhood, Panoramic
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2%
Listing Contact: 949-498-7711
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 3/23/2024 at 1:41 AM UTC