402 Corto Lane
San Clemente, CA 92672
- – beds
- – baths
- – sqft
- 4,485 sqft lot
- 1964 build
- – on site
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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.
Listed By CRMLS_CA / Doug Echelberger / Pacific Sotheby's Int'l Realty
Last checked:
Checking…
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Last updated Sep 7, 2023
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MLS# OC22141756 —
The Building
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Year Built:1964
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Year Built Source:Assessor
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New Construction:No
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Roof:Spanish Tile
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Common Walls:2+ Common Walls
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Number With Patio:4
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Building Area Total:4320.00
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Building Area Units:Square Feet
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# of Buildings:1
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Total Number Of Units:4
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# of Separate Gas Meters:5
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# of Separate Water Meters:1
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# of Separate Electric Meters:5
Interior
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Features:Built-in Features, Granite Counters, High Ceilings, Open Floorplan, Recessed Lighting
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Levels:Two
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Door Features:Panel Doors
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Window Features:Blinds, Screens
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Flooring:Carpet, Tile, Wood
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Room Type:Entry, Family Room, Kitchen, Master Bathroom, Master Bedroom
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Laundry:Community
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Laundry:1
Location
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Directions:Head south on S El Camino Real, turn right on W Avenida Palizada, right on Corto Lane
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Latitude:33.42301800
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Longitude:-117.62076000
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Lot Features:Back Yard, Landscaped, Level with Street, Walkstreet, Yard
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Lot Size Area:4485.0000
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Lot Size Acres:0.1030
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Lot Size SqFt:4485.00
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Lot Size Source:Assessor
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View:1
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View:Neighborhood, Panoramic
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Security Features:Fire and Smoke Detection System, Smoke Detector(s)
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Road Frontage:City Street
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Road Surface Type:Paved
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Property Attached:1
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Tract:784
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Tax Lot:22
The Listing
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Special Listing Conditions:Standard
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Parcel Number:69201223
Utilities
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Utilities:Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Dishwasher, Gas Range, Microwave, Range Hood, Water Line to Refrigerator
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Included:Yes
The Community
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Subdivision:Other (OTHR)
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Subdivision:Central
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Senior Community:No
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Features:Biking, Curbs, Gutters, Sidewalks, Storm Drains
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Pool:None
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Private Pool:No
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Spa Features:None
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Inclusions:Floor Plans are in the Supplements
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Association:No
Parking
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Parking:Yes
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Parking:Carport
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Parking Spaces:8.00
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Uncovered Spaces:4.00
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Carport Spaces:4.00
Extra Units
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Number With Disposal:4
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Number With Dishwasher:4
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
View a full reportThis is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
9/1/22
Sep 1, 2022
|
Sold | CRMLS_CA | $3,200,000 | -8.6% |
8/18/22
Aug 18, 2022
|
Pending | CRMLS_CA | $3,500,000 | |
8/8/22
Aug 8, 2022
|
Sold Subject To Contingencies | CRMLS_CA | $3,500,000 |