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838-850 Valley Ave

Solana Beach, CA 92075
  • $4,700,000
  • STATUS: ACTIVE
  • ON SITE: 23 Days
  • ID#: 240012128
$4,700,000
  • 8
    BEDS
  • 0.27
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 3,381
    SQFT
  • $1,390
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1990
County:

School Ratings & Info

Description

**Investment Opportunity: 5 Units on 2 Parcels for Sale** An excellent opportunity to purchase five units across two parcels. These properties underwent extensive renovations from late 2022 into 2023. The townhomes at 838 and 840 are currently occupied by excellent long-term tenants, each generating a monthly rent of $5,500. Each townhome features two large bedrooms with en-suite bathrooms, effectively providing dual master suites on the upper floor. The interiors have been upgraded with stylish flooring, modern kitchen designs, and updated bathrooms. Additional enhancements include new garage doors for each single-car garage and tasteful landscaping. A feasibility study indicates the potential for one ADU and a junior ADU (500 sq ft) per parcel. 842, 848, and 850 has 3 Units. 848 and 850 are studio apartments leased at $2,900 and $2,500 respectively. These studios boast contemporary renovations with modern kitchens, elegant bathrooms, inviting patios, and the convenience of four parking spaces. Unit 842 is a fully furnished, standalone home, presenting a lucrative investment opportunity on Airbnb, bringing in approximately $8,900 per month. This home features a spacious yard, two bedrooms, two bathrooms, and an open-concept kitchen with modern finishes. The peaceful setting and ample parking add to its appeal. Located within walking distance of the renowned Del Mar Race Track, beautiful beaches, and a variety of dining, shopping, and entertainment options, these properties offer a rare and valuable investment opportunity. Don’t miss out!

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/151113064
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838-850 Valley Ave Solana Beach, CA 92075

  • Price: $4,700,000
  • Status: ACTIVE
  • On Site: 23 Days
  • ID#: 240012128
8
Beds
8
Baths
0
½ Baths
0.27
Acres
3,381
SQFT
$1,390
$/SQFT
1990
Built
Neighborhood:
Solana Beach
County:
San Diego
Area:
Solana Beach (92075)
Property Description
**Investment Opportunity: 5 Units on 2 Parcels for Sale** An excellent opportunity to purchase five units across two parcels. These properties underwent extensive renovations from late 2022 into 2023. The townhomes at 838 and 840 are currently occupied by excellent long-term tenants, each generating a monthly rent of $5,500. Each townhome features two large bedrooms with en-suite bathrooms, effectively providing dual master suites on the upper floor. The interiors have been upgraded with stylish flooring, modern kitchen designs, and updated bathrooms. Additional enhancements include new garage doors for each single-car garage and tasteful landscaping. A feasibility study indicates the potential for one ADU and a junior ADU (500 sq ft) per parcel. 842, 848, and 850 has 3 Units. 848 and 850 are studio apartments leased at $2,900 and $2,500 respectively. These studios boast contemporary renovations with modern kitchens, elegant bathrooms, inviting patios, and the convenience of four parking spaces. Unit 842 is a fully furnished, standalone home, presenting a lucrative investment opportunity on Airbnb, bringing in approximately $8,900 per month. This home features a spacious yard, two bedrooms, two bathrooms, and an open-concept kitchen with modern finishes. The peaceful setting and ample parking add to its appeal. Located within walking distance of the renowned Del Mar Race Track, beautiful beaches, and a variety of dining, shopping, and entertainment options, these properties offer a rare and valuable investment opportunity. Don’t miss out!
Exterior Features

Exterior Stucco Fencing Partial Parking Garage Desc Unit1 Attached Parking Garage Desc Unit2 Attached Parking Garage Spaces Unit1 1 Parking Garage Spaces Unit2 1 Roof Tile/Clay Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard Yes Units With Garages 2 Units With Patios 2

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 1 Half Baths Unit2 1 Half Baths Unit3 0 Half Baths Unit4 0 Stories 2 Story Total Baths Unit1 3 Total Baths Unit2 3 Total Baths Unit3 2 Total Baths Unit4 2 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Common Unit4 Laundry Hook Ups Yes Units With Cooling 3 Units With Dishwashers 2 Units With Dryers 4 Units With Fireplaces 2 Units With Range Oven 2 Units With Refrigerators 2 Units With Washers 1

Property Features

Actual Cap Rate 0.0 Age Restrictions N/K Annual Expense Actual 0 Association ID San Diego Association of REALTORS (SDAR) Buildings 3 Cfd Mello Roos Fee 0.0 Community SOLANA BEACH Complex Park Solana Beach Cross Streets Stevens and Valley Gross Rent Multiplier Actual 0.0 Gross Scheduled Income Actual 132000 Mandatory Remarks None Known Market Area Coastal North Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 0 Possession Other/Remarks Sales Restrictions N/K Security N/K Short Sale No Tenant Pays Cable TVElectricityGas/PropaneHot WaterTrashWater Terms Cal VetCashConventionalExchangeFHAVA Unit Number For Unit1 838 Unit Number For Unit2 840 Unit Number For Unit3 848/850 Unit Number4 842 Unit1 Deposit 5500 Unit1 Occupied Tenant Unit1 Projected Rent 5500.0 Unit1 Rent Actual 5500.0 Unit2 Deposit 5500 Unit2 Occupied Tenant Unit2 Projected Rent 5500.0 Unit2 Rent Actual 5500.0 Unit3 Deposit 2500 Unit3 Occupied Tenant Unit3 Projected Rent 5400 Unit3 Rent Actual 2500.0 Unit4 Deposit 0 Unit4 Occupied Vacant Unit4 Projected Rent 8900 Unit4 Rent Actual 0.0 Zoning R-2:MINOR

San Diego MLS logo Listing provided courtesy of Talechia Plumlee-Baker of Compass: 858-229-2181. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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