1015 Georgia Street, Huntington Beach, California 92648, Huntington Beach, - bed, bath
ACTIVE$2,600,000
1015 Georgia Street, Huntington Beach, California 92648
0Bed
0Bath
4,665Sqft
7,405Lot
Year Built
1978
Close
-
List price
$2.6M
Original List price
$2.6M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25106441
Home ConditionFair
Features
Good View:
Patio
View-
About this home
A rare, well maintained 5 unit multi-family property located near downtown Huntington Beach. This property is currently occupied with great tenants, 4 of which are on leases and one month to month. There are 3 units with 2 bedrooms, 1 unit that has 3 bedrooms and 1 studio apt. There are 4 single car garages to the front of the building and a separate 2 car garage located to the rear of the property. Each unit is separately metered and the entire property is professionaly managed by a property managment company. However, this property can easily be maintained by an owner/manager and would increase your cap rate. The property is conveniently located just a short distance to downtown, the pier and the beach.
Nearby schools
7/10
John R. Peterson Elementary School
Public,•K-5•0.4mi
8/10
Agnes L. Smith Elementary School
Public,•K-5•1.0mi
6/10
Joseph R. Perry Elementary School
Public,•K-5•1.2mi
9/10
Huntington Seacliff Elementary School
Public,•K-5•1.8mi
7/10
Ethel Dwyer Middle School
Public,•6-8•0.9mi
8/10
Isaac L. Sowers Middle School
Public,•6-8•1.4mi
9/10
Huntington Beach High School
Public,•9-12•1.1mi
9/10
Edison High School
Public,•9-12•1.3mi
Condition Rating
Fair
The property was built in 1978. The images show the exterior is maintained, but there are no interior images to assess the condition of the kitchens and bathrooms. Given the age and lack of visible updates, a 'fair' rating is appropriate, assuming it has been maintained with regular upkeep but is likely outdated.
Pros & Cons
Pros
Prime Location: Located near downtown Huntington Beach, the pier, and the beach, offering convenient access to amenities and attractions.
Multi-Family Income Potential: Features 5 units (3 x 2-bedroom, 1 x 3-bedroom, 1 x studio), providing a diversified income stream.
Tenant Occupancy: Currently occupied with tenants, with 4 units on leases, ensuring immediate rental income.
Separate Metering: Each unit is separately metered, allowing for easy management of utility costs and tenant billing.
Garage Parking: Includes 4 single-car garages at the front and a separate 2-car garage at the rear, providing ample parking for tenants.
Cons
Year Built: Built in 1978, the property may require updates to meet modern standards and preferences.
Potential Management Overhead: While professionally managed, owner/manager involvement is suggested to increase cap rate, potentially adding to workload.
Limited Lot Size: The lot size of 7405 sqft might restrict future expansion or development possibilities.