402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
402 Corto Lane
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$3,200,000

402 Corto Lane

4,320 Sq.Ft.

Description

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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Location

402 Corto Lane, San Clemente, CA 92672

Status

Sold

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Property Amenities

Interior
Laundry room Common Area
Appliances Dishwasher, Gas Range, Microwave, Range Hood, Water To Refrigerator
Flooring Carpet, Tile, Wood
Other Interior Features Built-in Features, Granite Counters, High Ceilings, Open Floorplan, Recessed Lighting
Area & Lot
Lot Area 4,485 Sq.Ft.
Living area 4,320 Sq.Ft.
MLS® ID OC22141756
Year Built 1964
View Description Neighborhood,Panoramic
Type Condo
Status Sold
Exterior
Stories 2
Pool None
Water Source Public
Security Features Fire Detection System, Smoke Detector(s)
Sewer Public Sewer
Parking Carport
Lot Features Back Yard, Landscaped, Street Level, Walkstreet, Yard
Roof Spanish Tile
Utilities Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Finance
Sales Price $3,200,000

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