Rare legal oceanfront Triplex in highly desired, central oceanfront location on the boardwalk between the two piers was recently remodeled in 2020. Excellent income history with proven track record and immaculate condition. Live in one unit and offset costs by renting the other 2! Stunning unobstructed "sit-down" ocean, Catalina and sunset views from the 2 front units. Recent upgrades include new interior and exterior paint in all units, remodeled kitchens, new tiled bathrooms with seamless glass showers, double sinks and quartz countertops. All 3 units are 2 bedroom and 1 bath. Unit A is the upper oceanfront unit that sleeps 7 with vaulted beam ceilings throughout, Great Room with walls of glass to the ocean, brick fireplace, wood floors, open kitchen with breakfast bar and new quartz countertops in kitchen and bathroom. Unit B is the lower oceanfront unit that sleeps 6 and features a private front patio w/ sliding door, brick fireplace, open kitchen, dining nook, breakfast bar, gas cooktop, new quartz countertops and tile backsplash in remodeled kitchen and bathroom. Unit C is the lower back unit that sleeps 6 and does not face the ocean. Nicely remodeled with tile and wood floors, beam ceiling, crown molding, open floor plan, remodeled kitchen and bath. Each unit has access to a 1 car garage and shared laundry. Pro-forma gross income of $376K and net income $200K (3.4% Cap rate). All furnishings included. Close proximity to Marina Park, Balboa Fun Zone and 20+ restaurants.
Listing courtesy of Dean Lueck from Compass
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