402 Corto Lane, San Clemente, CA 92672
402 Corto Lane

402 Corto Lane

402 Corto Lane, San Clemente, CA

$3,500,000

HIGHLIGHTS
  • 0.103 Acres Lot
  • 4,320 Sq.Ft. Living
  • 1964 Year Built
  • Active Under Contract Status
  • OC22141756 MLS® ID
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.
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FEATURES & AMENITIES

Interior

  • Laundry roomCommon Area
  • FlooringCarpet, Tile, Wood
  • APPLIANCESDishwasher, Gas Range, Microwave, Range Hood, Water To Refrigerator
  • other interior FeaturesBuilt-in Features, Granite Counters, High Ceilings, Open Floorplan, Recessed Lighting

Area & Lot

  • Status Active Under Contract
  • Living Area4,320 Sq.Ft.
  • Lot Area0.103 Acres
  • MLS® IDOC22141756
  • TypeMULTI_FAMILY
  • YEAR BUILT1964
  • View DescriptionNeighborhood, Panoramic

Exterior

  • STORIES2
  • Water SourcePublic
  • utilitiesCable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • PoolNone
  • roofSpanish Tile
  • lot featuresBack Yard, Landscaped, Street Level, Walkstreet, Yard
  • parkingCarport
  • sewerPublic Sewer
  • HOA AmenitiesBiking, Curbs, Gutter(s), Storm Drain(s), Sidewalks
  • security FeaturesFire Detection System, Smoke Detector(s)

Financial

  • Sales Price$3,500,000
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