Description
***BACK ON THE MARKET - PRIME TROPHY ASSET IN CORONA DEL MAR*** This building is 100% LEASED and is in immaculate condition. It represents a fantastic long-term investment opportunity. Situated across from the famous 5 Crowns Restaurant, CdM’s exclusive “flower streets” and just a couple of blocks from the Corona del Mar State Beach, this location is ideal. This asset has great curb appeal, sits in a neighborhood filled with $5M -$20M homes and is near a signalized intersection on Coast Hwy between Newport Beach and Laguna Beach, all of which allow the property to benefit from strong tenant demand and an upside in potential rents. This mixed-use property has two ground level commercial units and two upper level apartments. One of the units is a restaurant with a commercial kitchen with built-in grease intercept and rooftop swamp fan. All units are individually metered and air conditioned. Nearly $1,000,000 in property upgrades since 2015. This gem has low management and maintenance costs. The property is ideal for a 1031 exchange upleg. This is your chance to own one of the nicest properties in all of Corona Del Mar! Prime real estate like this is the greatest hedge against inflation that exists.
Location
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Listing Agent: Chas Patterson
Listing Office: The Firm Real Estate Services Inc.
Attribution contact: 949-877-8827
