Description

ADU OPPORTUNITY, BEACH CLOSE LOCATION AND POTENTIAL FOR INCREASED INCOME! Welcome to 227 West Canada, a fabulous beach-close triplex located in the heart of Coastal San Clemente w/in walking distance of 3 beach access points. Property boasts a large lot w/ample parking, a spacious rear yard & potential for 2 additional ADU units. Comprised three units, each offering a unique set of amenities & rental potential. Unit #1 is a 1 bed / 1 ba with private balcony on the front of the building; it is currently leased on a month-to-month basis w/a long term tenant. Unit #2, also a 1 bed / 1 ba, has recently been renovated, offers a private exterior balcony/peek-a-boo ocean view & is leased through 2025. Unit #3 is a 2 bed / 2 ba, features a rear exterior patio & is also currently leased on a month-to-month basis w/long term tenants. Total current annual income of $83,640 w/PRO FORMA income of $96,000. This roperty presents an exciting investment opportunity & the property comes w/City of San Clemente approved ADU plans, offering the potential to add TWO detached 1 bed/1 bath 480 sq ft units totaling 960 additional sq ft. The ADU’s have potential to increase the annual income by $72,000. Property is sold w/approved ADU building plans, soils report & topographic survey. The property has been surveyed and staked for construction. ADU application is active until 4/2025 & can be extended if the process is resumed before that time according to the city. Buyer to complete their due diligence w/ the City of San Clemente on ability to transfer the project to new applicant/owner & steps for obtaining permits. The property is well-maintained and offers a range of opportunities for future development and income growth. With its prime location within walking distance to the beach, this triplex is a rare find in the South OC real estate market. The property features a new main water line, new sewer line and new water heater. The yard is spacious with endless possibilities for additional outdoor living space or the addition of two ADU units. The property also features a very large unfinished basement area that could be reimagined as a community common room, game room or outfitted for tenant storage producing additional income. Property has 6 onsite parking spaces with a carport and a separate community laundry room. Onsite laundry has potential for additional income of $400 monthly. Total annual income of $83,640, Potential income of $155,640 with the addition of ADU’s.