402 Corto Lane
402 Corto Lane
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402 Corto Lane
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Sold

402 Corto Lane

402 Corto Lane, San Clemente, CA 92672

$3,200,000
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.

4,320 Sq.Ft. LIVING AREA

4,486.68 Sq.Ft. lot

DOUGLAS ECHELBERGER

DOUGLAS ECHELBERGER

Features & Amenities

Interior

  • Laundry room Common Area
  • Flooring Carpet, Tile, Wood
  • APPLIANCES Dishwasher, Gas Range, Microwave, Range Hood, Water To Refrigerator
  • other interior Features Built-in Features, Granite Counters, High Ceilings, Open Floorplan, Recessed Lighting

Area & Lot

  • Status Sold
  • Living Area4,320 Sq.Ft.
  • Lot Area4,486.68 Sq.Ft.
  • MLS® IDOC22141756
  • TypeCondo
  • YEAR BUILT1964
  • View DescriptionNeighborhood, Panoramic

Exterior

  • STORIES2
  • water SourcePublic
  • utilitiesCable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • PoolNone
  • roofSpanish Tile
  • lot featuresBack Yard, Landscaped, Street Level, Walkstreet, Yard
  • parkingCarport
  • sewerPublic Sewer
  • security FeaturesFire Detection System, Smoke Detector(s)

Financial

  • Sales Price$3,200,000

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