2516-& 2518 Bayside Drive

    Corona Del Mar, CA 92625
    • $2,595,000
    • STATUS: Active
    • ON SITE: 49 days
    • ID#: OC19183258
    UPDATED: 185 min ago
    $2,595,000
    • 0
      BEDS
    • 3540
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,388
      SQFT
    • $1,087
      $/SQFT
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    Multi-unit Income property with Bay Views! Ideally located, a block from Begonia Park and within walking distance to the Beach. Nestled in Corona del Mar village, south of PCH and adjacent to walking trails/sidewalks. Enter through a dedicated driveway for only two parcels and elevated from Bayside Drive, this property is spacious between it's neighbors. Zoned R2 but currently has Three units (all rented), each having their own mailing address. The studio unit is non-conforming (2516 +-+). Two (2516 & 2518) have 2 Bed/2 Bath/1-car garage and parking. The Two bedroom units each have A/C, newer appliances, refrigerators, and washer/dryer laundry closets. One unit has newly two remodeled bathrooms and the other has newer hardwood floors. Both have vaulted hardwood ceilings and lots of windows with views. The studio unit includes a storage room, a covered patio and side yard. Geological and topography reports are done. Leave As Is or Build two new dream homes with Bay Views! Good current cap rate too. Buyer to cooperate with 1031 exchange.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-20T00:45:44.837. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/97507745

    2516-& 2518 Bayside Drive Corona Del Mar, CA 92625

    • Price: $2,595,000
    • Status: Active
    • Updated: 185 min ago
    • ID#: OC19183258
    0
    Beds
    0
    Baths
    0
    ½ Baths
    3540
    Acres
    2,388
    SQFT
    $1,087
    $/SQFT
    1972
    Built
    Neighborhood:
    Corona Del Mar South Of Pch (Cdms)
    County:
    Orange
    Area:
    CS - Corona Del Mar - Spyglass
    Property Description
    Multi-unit Income property with Bay Views! Ideally located, a block from Begonia Park and within walking distance to the Beach. Nestled in Corona del Mar village, south of PCH and adjacent to walking trails/sidewalks. Enter through a dedicated driveway for only two parcels and elevated from Bayside Drive, this property is spacious between it's neighbors. Zoned R2 but currently has Three units (all rented), each having their own mailing address. The studio unit is non-conforming (2516 +-+). Two (2516 & 2518) have 2 Bed/2 Bath/1-car garage and parking. The Two bedroom units each have A/C, newer appliances, refrigerators, and washer/dryer laundry closets. One unit has newly two remodeled bathrooms and the other has newer hardwood floors. Both have vaulted hardwood ceilings and lots of windows with views. The studio unit includes a storage room, a covered patio and side yard. Geological and topography reports are done. Leave As Is or Build two new dream homes with Bay Views! Good current cap rate too. Buyer to cooperate with 1031 exchange.
    Exterior Features

    Fence YN No Fencing None Garage Spaces 2.00 Lot Features Rectangular LotLevelSprinkler System Lot Size Source Assessor Lot Size Units Acres Parking Features AssignedGarageGarage Door Opener Parking Total 2.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved View BayHillsPark/Greenbelt View YN Yes Waterfront Features Ocean Side Of FreewayOcean Side Of Highway 1

    Interior Features

    Appliances DishwasherElectric RangeDisposal Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Flooring Wood Heating Forced Air Heating YN Yes Interior Features Cathedral Ceiling(S) Laundry Features Dryer IncludedIndividual RoomInsideWasher Included

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features Curbs Country Us Electric 220 Volts in Garage Electric Expense 1180.00 Elevation Units Feet Fuel Expense 420.00 Gardener Expense 1140.00 Gross Income 104820.00 Gross Scheduled Income 104820.00 Insurance Expense 1100.00 Land Lease YN No Laundry YN Yes Net Operating Income 780.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 0 Number Of Units Leased 3 Number With Dishwasher 2 Number With Patio 3 Number With Range 2 Number With Refrigerator 3 Operating Expense 780.00 Professional Management Expense 0.00 Property Condition Turnkey Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Sprinklers YN Yes Subdivision Name Other Corona Del Mar South Of Pch (Cdms) Total Actual Rent 8735.00 Total Expenses 4190.00 Trash Expense 0.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance Rate 0.00 Water Sewer Expense 450.00 Water Source Public Year Built Source Assessor Zoning R2

    Listing provided courtesy of Michelle Ultimo Hall of Ultimo Properties, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-20T00:45:44.837. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
     
    J1 REALTY GROUP
    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606