510 Avenue Alhambra, El Granada, CA 94018
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510 Avenue Alhambra, El Granada, CA 94018
510 Avenue Alhambra, El Granada, CA 94018
510 Avenue Alhambra, El Granada, CA 94018
510 Avenue Alhambra, El Granada, CA 94018
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Listed by Nate Gustavson, DRE #01898316 • Compass
$ 3,750,000
Est. payment /mo
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Active

510 Avenue Alhambra El Granada, CA 94018

4 Beds

2 Baths

9,756 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 9,756 sqft

Price per Sqft $384

MLS Listing ID ML82046224

Bedrooms 4

Full Baths 2

Year Built 1973

Lot Size 0.333 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

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.

Location

State CA

County San Mateo

Area Lower El Granada

Zoning C-1/S-3/DR, SM County

Rooms

Kitchen Countertop - Formica, Countertop - Granite, Countertop - Tile, Dishwasher, Garbage Disposal, Hood Over Range, Oven Range - Electric, Refrigerator, Varies by Unit

Interior

Heating Electric

Cooling None

Flooring Carpet, Laminate, Tile, Vinyl / Linoleum

Laundry Coin Operated, Washer / Dryer

Exterior

Parking Features Assigned Spaces, Carport

Garage Spaces 2.0

Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities

View Mountains, Ocean, Panoramic

Roof Type Bitumen,Tar and Gravel

Building

Lot Description Grade - Mostly Level, Views

Foundation Concrete Perimeter

Sewer Sewer - Public, Sewer Connected

Water Public

Others

Tax ID 047-204-110

Special Listing Condition Not Applicable

MLS Listing IDX PLUS
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510 Avenue Alhambra