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Listed by Jennifer Halbert • Berkshire Hathaway HomeServices California Properties
$ 5,500,000
Est. payment | /mo
18,124 SqFt
$ 5,500,000
Est. payment | /mo
18,124 SqFt
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 18,124 sqft
Price per Sqft $303
MLS Listing ID CRLG25014194
HOA Y/N No
Originating Board Datashare California Regional
Lot Size 0.416 Acres
Property Sub-Type Unimproved Land
Property Description
135/137/139 Avenida Sierra | Located on the ocean side of the 5 freeway in an established San Clemente neighborhood, this multi-unit income property could be the opportunity of a lifetime. Set on three separate parcels in close proximity to local beaches, parks, the Metrolink and many shopping/dining options, the property includes approximately 18,000 square feet and five units. An ocean view is available from the upper unit and the potential exists to build a new structure up from the spacious parking lot to capitalize on panoramic views of the ocean, city lights and hillsides. Currently, the property grosses over $10,200/month; 4 of the units are rented and records are available from the owner. An additional ADU could be upfitted to receive a permit and potentially bring another income stream totaling around $1,500/month. A 3-car garage and shared laundry add to the current investment value and versatility. With the potential to subdivide and build three single family homes, the property could deliver a substantial return on investment. The options are endless: live in the upper unit and enjoy the ocean breeze while renting the others, create a family compound, realize a 1031 Exchange to avoid capital gains or purchase solely as an investment and avoid the stress/fluctuations o
Location
State CA
County Orange
Interior
Fireplace No
Exterior
View Hills, Other
Building
Lot Description Other
Water Public
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