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$ 3,750,000
Est. payment /mo
Active
510 Avenue Alhambra El Granada, CA 94018
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82046224
HOA Y/N No
Year Built 1973
Annual Tax Amount $41,456
Lot Size 0.333 Acres
Property Description
Welcome to the Beach Surf View Apartments located at 510 Avenue Alhambra in El Granada; a rare coastal nine (9) unit multifamily investment opportunity in the highly desirable Pillar Point neighborhood of El Granada. -- This well-maintained property offers stunning ocean views from every unit and an exceptional unit mix of three (3) spacious 2-Bedroom/1-Bath Penthouse units (~1,000 sqft) and six (6) classic 2-Bedroom/1-Bath units (~675 sqft). -- Originally constructed in 1973 and situated on a 14,490 sqft lot, the property features approximately 9,756 sqft of improvements with 7,479 sqft of rentable space. Each unit is individually metered with all-electric appliances, and the penthouse units include in-unit washer/dryers. -- Property amenities include nine (9) carports plus two (2) open spaces, on-site laundry for units without in-unit laundry, bike storage, resident storage lockers, and an owners storage room with bathroom and sink. -- SB-721 INSPECTION IS COMPLETED/PASSED, offering added peace of mind for investors. Ideally located just a short 10-minute walk to the beach and coastal promenade, this asset combines strong in-place income (5.13% cap rate & 13.01 GRM) with long-term upside in one of the Peninsulas most supply-constrained coastal communities.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning C-1/S-3/DR, SM County
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Carport Spaces 9
Roof Type Bitumen,Tar/Gravel
Total Parking Spaces 2
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Half Moon Bay
School District Other
Others
Tax ID 047204110
Special Listing Condition Standard
Listed by Nate Gustavson Compass #01898316
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