510 Avenue Alhambra, El Granada, CA 94018
- $3,750,000
- 9,756
- SqFt
Listed by Nate Gustavson, 415-786-9410 from Compass
(If provided) CoList: Cameron Foster from Compass
- List Price
- $3,750,000
- MLS#
- ML82046224
- Status
- ACTIVE
- Sqft. of Residence
- 9,756
- Lot Size
- 14,490
- Listing Area
- Lower El Granada
- Year Built
- 1973
Property Description
Welcome to the Beach Surf View Apartments located at 510 Avenue Alhambra in El Granada; a rare coastal nine (9) unit multifamily investment opportunity in the highly desirable Pillar Point neighborhood of El Granada. -- This well-maintained property offers stunning ocean views from every unit and an exceptional unit mix of three (3) spacious 2-Bedroom/1-Bath Penthouse units (~1,000 sqft) and six (6) classic 2-Bedroom/1-Bath units (~675 sqft). -- Originally constructed in 1973 and situated on a 14,490 sqft lot, the property features approximately 9,756 sqft of improvements with 7,479 sqft of rentable space. Each unit is individually metered with all-electric appliances, and the penthouse units include in-unit washer/dryers. -- Property amenities include nine (9) carports plus two (2) open spaces, on-site laundry for units without in-unit laundry, bike storage, resident storage lockers, and an owners storage room with bathroom and sink. -- SB-721 INSPECTION IS COMPLETED/PASSED, offering added peace of mind for investors. Ideally located just a short 10-minute walk to the beach and coastal promenade, this asset combines strong in-place income (5.13% cap rate & 13.01 GRM) with long-term upside in one of the Peninsulas most supply-constrained coastal communities.
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Additional Information
- Cooling System
- None
- Floor Covering
- Carpet, Laminate, Tile, Vinyl / Linoleum
- Foundation
- Concrete Perimeter
- Garage Parking
- Assigned Spaces, Carport
- Heating System
- Electric
- Laundry Facilities
- Coin Operated, Washer / Dryer
- Living Area
- 9,756
- Lot Description
- Grade - Mostly Level, Views
- Lot Size
- 14,490
- Neighborhood
- Lower El Granada
- Other Rooms
- Storage
- Other Utilities
- Individual Electric Meters, Individual Gas Meters, Public Utilities
- Roof
- Bitumen, Tar and Gravel
- Sewer
- Sewer - Public, Sewer Connected
- View
- View of Mountains, Ocean View, Panoramic
- Zoning
- C-1/S-3/DR, SM County
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