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Key Details
Sold Price $2,500,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Solana Beach
MLS Listing ID 230011238SD
Sold Date 07/19/23
HOA Y/N No
Year Built 1950
Lot Size 4,351 Sqft
Property Description
Stunning transformation of this Solana Beach ocean view duplex on desirable N. Granados west of I-5. Lower level Unit 215 boasts 2 BD/ 1BA + Bonus room/ approx. 1210 SF that lives like a single family residence. Completely remodeled down to the studs w/ all new electrical wiring and panel/ plumbing/ drywall/ windows/ lighting/ rear foundation stem wall/ opened up kitchen/ reconfigured bathroom/ mini-splits for heat and A/C/ and incredible ocean view deck w/ private yard off the rear of the home. Projected long term tenant rent at $5000/month +. The upper unit is a spacious 1 BD/ 1 BA/ 531 SF w/ new bathroom/ upgraded electric panel/ new wall heater/ fresh paint/ new appliances/ and a massive ocean view deck. Projected long term tenant rent at $3200/month. All work permitted and done to code per City of Solana Beach. Flexibility for owner occupied w/ income- crush it during race track season to guests that will pay top $, short term gross rental income projections of $171,448/ year based on 66% occupancy which is very conservative, or long term rental income projections of $98,400/ year. 1031 exchange buyers will be grateful to park their money in this desirable beach community with ferocious rental demand and lucrative long term returns. A short walk to Cedros Avenue, home to more than 85 distinctive retailers and shops resembling a European side-street. This iconic location features world-famous Belly-Up tavern, Pillbox, salons and spas, art galleries, cafes and restaurants, fashion and jewelry boutiques, and so much more! Stunning transformation of this Solana Beach ocean view duplex on desirable N. Granados west of I-5. Lower level Unit 215 boasts 2 BD/ 1BA + Bonus room/ approx. 1210 SF that lives like a single family residence. Completely remodeled down to the studs w/ all new electrical wiring and panel/ plumbing/ drywall/ windows/ lighting/ rear foundation stem wall/ opened up kitchen/ reconfigured bathroom/ mini-splits for heat and A/C/ and incredible ocean view deck w/ private yard off the rear of the home. Projected long term tenant rent at $5000/month +. The upper unit is a spacious 1 BD/ 1 BA/ 531 SF w/ new bathroom/ upgraded electric panel/ new wall heater/ fresh paint/ new appliances/ and a massive ocean view deck. Projected long term tenant rent at $3200/month. All work permitted and done to code per City of Solana Beach. Flexibility for owner occupied w/ income- crush it during race track season to guests that will pay top $, short term gross rental income projections of $171,448/ year based on 66% occupancy which is very conservative, or long term rental income projections of $98,400/ year. 1031 exchange buyers will be grateful to park their money in this desirable beach community with ferocious rental demand and lucrative long term returns. A short walk to Cedros Avenue, home to more than 85 distinctive retailers and shops resembling a European side-street. This iconic location features world-famous Belly-Up tavern, Pillbox, salons and spas, art galleries, cafes and restaurants, fashion and jewelry boutiques, and so much more!
Location
State CA
County San Diego
Area 92075 - Solana Beach
Building/Complex Name Solana Beach
Interior
Heating Natural Gas
Cooling See Remarks, Wall/Window Unit(s)
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
View Y/N Yes
View Ocean, Panoramic
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 2633720400
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
Financing Cash
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Bought with Aurora Villanueva • Alta Realty Group CA, Inc.