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Magnum Realty Services

Mark E. Cestaric
Real Estate Broker
714-606-9491
MarkeCestaric@gmail.com
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DRE#: 009883926

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Listing 13 out of 16
$1,440,000 Active Under Contract

1008 Florida Street
Huntington Beach, CA 92648

3 units | Multi Family Home
5663 sq ft lot - MLS# PW19049891
Property Photo
1/22

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's 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's tastefully remodeled twos, private patio spaces, and garages will continue to attract millennials with increasing disposable income.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active Under Contract
  • Zip Code: 92648
  • Year Built: 1963
  • Subdivision/Neighborhood: Downtown Area (Down)
  • Stories: One
  • Units: 3 units
  • # of Parking Spaces: 2.00
  • Lot Size: 5663 sq ft lot
  • Area: 15 - West Huntington Beach
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 2604.00
  • Building Area Units: Square Feet
  • Cap Rate: 3.85
  • Common Walls: 2+ Common Walls
  • Community Features: Curbs
  • Country: US
  • Directions: Off Beach Blvd and Adams
  • Electric Expense: 224.00
  • Fuel Expense: 360.00
  • Garage Spaces: 2.00
  • 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
  • Laundry Features: Community
  • Laundry YN: Yes
  • Listing Agent License: 01267826
  • Listing Office License: 01267826
  • Lot Features: Front Yard
  • Lot Size Area: 0.1300
  • Lot Size Source: Assessor
  • Lot Size Units: Acres
  • MLS: CRM
  • Net Operating Income: 55476.00
  • New Taxes Expense: 16560.00
  • Number Of Buildings: 2
  • 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
  • Property Attached YN: Yes
  • Sewer: Public Sewer
  • Stories Total: 1
  • Total Actual Rent: 7000.00
  • Total Expenses: 26004.00
  • Trash Expense: 150.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Justin White, Justin White

Mark E. Cestaric
Costa Mesa, CA 92626
Phone: 714-606-9491
Email: markecestaric@gmail.com

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