Under contract

Active Under Contract

227 W Canada 1-3

San Clemente CA, 92672

$1,850,000


$796.73 per sqft

Under contract

Active Under Contract

2,322 sqft

Multi-family

Built in 1964

Listed by Johanna Andren with Compass 949-293-2196

Unbeatable Triplex Opportunity! Discover this exceptional triplex, perfectly positioned and located in the heart of coastal San Clemente within walking distance to 3 beach access points, parks, schools & easy bike or walk to downtown shops & restaurants! Bonus feature is the sellers have City approved plans to add two additional free standing 1 br, 1 ba ADUs if new buyer wants to add units in the open rear yard area to increase yearly revenues! Now offered at an enhanced price of $1,799,900, presenting a fantastic investment opportunity. Property boasts a large lot w/6 onsite parking spots, 3 covered and 3 uncovered, plus a spacious rear lot area with potential for building the 2 additional ADU units or enhancing outdoor living space. Building is comprised of three units, each offering a unique set of features & rental potential. Unit #1 is a 1 bed/1 ba with an oversized private balcony on the front of the building; currently leased on a month-to-month basis. Unit #2, also a 1 bed/1 ba, has been renovated & offers a private exterior balcony & peek ocean views from the balcony & living room & is leased through 2025. Unit #3 is a 2 bed/2 bath, features rear exterior patio & deck areas & is leased on a month to month basis. Total current annual income of $83,640 w/PRO FORMA income of $96,000. This property presents an exciting investment opportunity & includes the City of San Clemente approved ADU plans for TWO detached 1 bed/1 bath 480 sq ft units totaling 960 additional sq ft. The ADU's have potential to increase the annual income by $72,000. Seller will provide ADU building plans, soils report & topographic survey to buyer; property has been surveyed & staked for construction. ADU application is active until 4/2025 & can be extended if the process is resumed before that time according to the city (buyer to verify). The bldg is well-maintained and offers a range of opportunities for future development/income growth. With its prime location w/in walking distance to the beach & a spacious lot, this triplex is a rare find in the South OC real estate market. Value Added features include a new main water line, newly relined main sewer & upgraded water heater. The property also features a very large unfinished basement that could be reimagined as a community room, game room, gym or outfitted for tenant storage producing additional income. Onsite laundry room w/ potential for additional income of $400 monthly.

OC24130519

MLS ID

June 30, 2024

Listed

October 17, 2024

Updated

Map

227 W Canada 1-3
San Clemente CA, 92672

Interior Features

Total Stories

2


Interior Features

Primary Suite


Appliances

Gas Cooktop, Disposal, Refrigerator, Dryer, Washer


Laundry Description

Common Area, Laundry Room


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.09 Acres


Lot Features

Back Yard, Level, Near Park, Yard


Sewer

Public Sewer

Other Property Details

Area Name

SW - San Clemente Southwest


Days on Market

51


Garage

No


Parking

Attached Carport, Covered, Carport, On Site, One Space, Tandem, Uncovered


Parking Total

6


View

Yes


View Description

Neighborhood, Ocean, Peek-A-Boo


County

Orange


Water Source

Public


Pool

No


Pool Features

None


Waterfront

Yes

Listing History

Date

Event

Price

10/9/2024

Under contract

10/8/2024

Active

10/2/2024

Pending

8/19/2024

Price change

$1,850,000

2%

8/19/2024

Under contract

8/8/2024

Price change

$1,799,900

-3%

Listing Contact: 949-546-6260 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. 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 10/17/2024 at 2:12 PM UTC

 

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