$3,500,000 - 402 Corto Lane, San Clemente

  • 0.10Acres

San Clemente Home For Sale

Rare 4-plex opportunity in San Clemente’s Short Term Rental Zone is just 400 yards from surfing breaks in San Clemente. This beach-close four-unit apartment building presents an extraordinary investment opportunity. The building consists of two units that are both 2 bedroom, 2 bath; another unit that’s 2 bedroom, 1 bath, and the largest being 3 bedroom, 2 bath. Open-concept floorplans display dine-in kitchens, spacious living rooms, fully appointed baths, and a covered carport space for each unit. Unit three is the largest and hosts a dining room and primary suite with a sunny balcony. This is the perfect configuration for an owner’s suite inside the 4-plex. The property is located along a cul-de-sac street with direct beach access. Hands down one of the best locations in town to own an income property as you are surrounded by luxury beach property and the building is moments from shops and restaurants on Del Mar, San Clemente’s classic pier, parks, and hiking trails. Within a few minutes you can be at the beach, having dinner on the San Clemente Pier, or shopping downtown. Income numbers are run on the actual rent. Pro Forma rent for a 12 month rental would be Gross Income $142,800 and about a 3.6% cap, projected vacation rental income is approximately $324,000. Projections for Vacation Rental can be provided separately by a third party.

Sales Agent

Sam Smith
  • Sam Smith
  • San Clemente Realtor ®
  • Phone: 949-204-5110
  • Cell: 949-204-5110
  • Contact Agent Now

Amenities

  • UtilitiesCable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Parking Spaces8
  • ParkingCarport
  • GaragesCarport
  • ViewNeighborhood, Panoramic
  • PoolNone
  • SecurityFire Detection System, Smoke Detector(s)

Additional Information

  • Date ListedAugust 2nd, 2022
  • Days on Market6
  • Short SaleN
  • RE / Bank OwnedN

Essential Information

  • MLS® #OC22141756
  • Price$3,500,000
  • Bathrooms0.00
  • Acres0.10
  • Year Built1964
  • TypeResidential Income
  • Sub-TypeApartment
  • StatusActive Under Contract

Exterior

  • Lot DescriptionBack Yard, Landscaped, Street Level, Walkstreet, Yard
  • WindowsBlinds, Screens
  • RoofSpanish Tile

Community Information

  • Address402 Corto Lane
  • AreaSC - San Clemente Central
  • SubdivisionOther (OTHR)
  • CitySan Clemente
  • CountyOrange
  • StateCA
  • Zip Code92672

Interior

  • InteriorCarpet, Tile, Wood
  • Interior FeaturesBuilt-in Features, Granite Counters, High Ceilings, Open Floorplan, Recessed Lighting
  • AppliancesDishwasher, Gas Range, Microwave, Range Hood, Water To Refrigerator
  • StoriesTwo

Price Change History for 402 Corto Lane, San Clemente, CA (MLS® #OC22141756)

Date Details Price Change
Active Under Contract (from Active)
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Provided By: Doug Echelberger, Pacific Sotheby's Int'l Realty.

Based on information from California Regional Multiple Listing Service, Inc. as of August 8th, 2022 at 1:03pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.