1008 Florida Street , A

    Huntington Beach, CA 92648
    • $1,440,000
    • STATUS: Active Under Contract
    • ON SITE: 200 days
    • ID#: PW19049891
    Under Contract
    UPDATED: 90 min ago
    $1,440,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,010
      SQFT
    • $478
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    An investor looking to begin building a portfolio and provide for their own housing can purchase the property and begin building equity at a very reasonable price. With rents in the area for remodeled two bedrooms in the $2,400-$2,800 range, an investor/owner can acquire the property and after taxes and insurance and all expenses associated with owning rental property the owner will only need to pay themselves $3,899 per month to own a property 1 mile from the beach. Two bedroom units rent for between a low of $2,045 ($2.87/SF) and as high as $3,100. An investor who maintains the property in it+GGs current condition will continue to benefit from an ease of management property in a improving location. The residential component of Pacific City will add units targeting high net worth individuals. Pacific City 2 bedrooms are currently starting at $3,900 and are filling up as fast as they are completed. The availability of these high end units will attract tenants that want to live close to Pacific City but want to pay slightly less for a great location. 1008 Florida with it+GGs tastefully remodeled twos, private patio spaces, and garages will continue to attract millennials with increasing disposable income.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-22T00:38:50.49. 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 deemed reliable but is not guaranteed accurate by the MLS or Heller The Home Seller | Keller Williams Realty. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/92379983

    1008 Florida Street , A Huntington Beach, CA 92648

    • Price: $1,440,000
    • Status: Active Under Contract
    • Updated: 90 min ago
    • ID#: PW19049891
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    3,010
    SQFT
    $478
    $/SQFT
    1963
    Built
    Neighborhood:
    Downtown Area (Down)
    County:
    Orange
    Area:
    15 - West Huntington Beach
    Property Description
    An investor looking to begin building a portfolio and provide for their own housing can purchase the property and begin building equity at a very reasonable price. With rents in the area for remodeled two bedrooms in the $2,400-$2,800 range, an investor/owner can acquire the property and after taxes and insurance and all expenses associated with owning rental property the owner will only need to pay themselves $3,899 per month to own a property 1 mile from the beach. Two bedroom units rent for between a low of $2,045 ($2.87/SF) and as high as $3,100. An investor who maintains the property in it+GGs current condition will continue to benefit from an ease of management property in a improving location. The residential component of Pacific City will add units targeting high net worth individuals. Pacific City 2 bedrooms are currently starting at $3,900 and are filling up as fast as they are completed. The availability of these high end units will attract tenants that want to live close to Pacific City but want to pay slightly less for a great location. 1008 Florida with it+GGs tastefully remodeled twos, private patio spaces, and garages will continue to attract millennials with increasing disposable income.
    Exterior Features

    Garage Spaces 2.00 Lot Features Front Yard Lot Size Source Assessor Lot Size Units Acres Parking Total 2.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.85 Community Features Curbs Country Us Electric Expense 224.00 Elevation Units Feet Fuel Expense 360.00 Gardener Expense 1500.00 Gross Income 81480.00 Gross Multiplier 17.14 Gross Operating Income 81480.00 Gross Scheduled Income 84000.00 Insurance Expense 3010.00 Land Lease YN No Laundry YN Yes Net Operating Income 55476.00 New Construction YN No New Taxes Expense 16560.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 2 Operating Expense 26004.00 Other Expense 2100.00 Other Expense Description Repairs Pest Control Expense 900.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Downtown Area (Down) Total Actual Rent 7000.00 Total Expenses 26004.00 Trash Expense 150.00 Vacancy Allowance 2520 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Justin White of Justin White


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-22T00:38:50.49. 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 deemed reliable but is not guaranteed accurate by the MLS or Heller The Home Seller | Keller Williams Realty. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024