1301 – 1317 Hungtington St., Huntington Beach, CA
Price: $6,800,000
Number of Units: 16
Year Built: 1968
Price per Unit: $425,000
Current GRM: 19.96
Current Cap Rate: 3.2%
Mix: 16 2-bedroom, 1-bath units
Neighborhood Description
Named the “Best City to Live in Orange County”, Huntington Beach is a vibrant surf city with a mild climate. Residents enjoy a charming community with ideal weather, a diversified economy, excellent educational system, boat marinas, numerous parks, and an epicenter of activity. Boasting some of California’s widest, cleanest and safest beaches, the city is home to newly constructed Pacific City, a premier downtown development with trendy retail and eateries. Huntington Beach is centrally located to all major attractions in Orange County including Disneyland, Angel Stadium, South Coast Plaza, and Knott’s Berry Farm.
Description
The Huntington Street Portfolio consists of four continguous fourplexes in a premium location in Huntington Beach. Located exactly one mile from a continually improving downtown Huntington Beach and newly developed Pacific City, this location will provide increased rents and values for years to come. Also located close to Beach Blvd., tenants will pay premium rents to enjoy the beach lifestyle and have easy access to major thoroughfares to enable an easy commute to work. An astute investor can use strategic upgrades to add value, such as turning carports into garages and modernizing interiors to take advantage of the continually rising rental rates in Huntington Beach.
