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    33741 Olinda Drive

    Dana Point, CA 92629
    • $3,375,000
    • STATUS: Active Under Contract
    • ON SITE: 65 days
    • ID#: LG21048684
    Under Contract
    UPDATED: 116 min ago
    $3,375,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,845
      SQFT
    • $697
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    This rare 6-unit trophy property in charming Dana Point underwent roughly $200,000 worth of exterior and interior renovations in 2018. Located near downtown, the property is surrounded by substantial development within the city, which is creating jobs and increased tourism. With two 1-bed/1-bath and four 2-bed/2-bath apartments, plus eight garage spaces, this property is a perfect fit for Dana Point's strong rental market. Tenants pay their own gas and electricity, and a RUBS program has been implemented to help cover water, sewer, and garbage costs. Seller just applied a reflective coating to the roof in November 2020 to help reduce utility costs. This building is turn-key with great tenants - truly a set-it-and-forget-it investment for the long-term. All details provided deemed accurate but not guaranteed, Buyer to verify. See virtual tour link for aerial video.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.
    www.necolrealty.com/homes/114900357
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    33741 Olinda Drive Dana Point, CA 92629

    • Price: $3,375,000
    • Status: Active Under Contract
    • Updated: 116 min ago
    • ID#: LG21048684
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    4,845
    SQFT
    $697
    $/SQFT
    1972
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    LT - Lantern Village
    Property Description
    This rare 6-unit trophy property in charming Dana Point underwent roughly $200,000 worth of exterior and interior renovations in 2018. Located near downtown, the property is surrounded by substantial development within the city, which is creating jobs and increased tourism. With two 1-bed/1-bath and four 2-bed/2-bath apartments, plus eight garage spaces, this property is a perfect fit for Dana Point's strong rental market. Tenants pay their own gas and electricity, and a RUBS program has been implemented to help cover water, sewer, and garbage costs. Seller just applied a reflective coating to the roof in November 2020 to help reduce utility costs. This building is turn-key with great tenants - truly a set-it-and-forget-it investment for the long-term. All details provided deemed accurate but not guaranteed, Buyer to verify. See virtual tour link for aerial video.
    Exterior Features

    Lot Features 21-25 Units/Acre Number Of Separate Electric Meters 6 Parking Features Garage Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Spa Features None Spa YN No

    Interior Features

    Appliances DishwasherElectric RangeMicrowave Common Walls 1 Common Wall Cooling Central AirElectric Cooling YN Yes Interior Features Balcony

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.22 Common Interest Community Apartment Community Features BikingGolfHikingParkSidewalks Electric Expense 540 Fuel Expense 540 Garage YN Yes Gross Income 155101 Gross Scheduled Income 153540 Insurance Expense 1696 Land Lease YN No Laundry Features Common Area Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 3000 Net Operating Income 108617 New Construction YN No New Taxes Expense 34138 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 46484 Other Expense 2250 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 12795 Trash Expense 1440 Utilities Electricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedPhone AvailableSewer AvailableSewer ConnectedUnderground UtilitiesWater AvailableWater Connected Vacancy Allowance Rate 3 Water Sewer Expense 1440 Water Source Public

    Listing provided courtesy of Nicholas Brunson of Interface Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Southwest. Licensed in the State of California, USA.
     
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