$4,600,000
UNDER CONTRACT

Estimated payment $27,264/month

Total Views 8,436
6 Beds
3 Baths
5,543 Sq Ft
$830 Price per Sq Ft

Highlights

  • Fishing
  • Laundry Room
  • Rectangular Lot
  • Clarence Lobo Elementary School Rated A-
  • Bike Trail
  • 4-minute walk to Parque del Mar

About This Home

Pleased to present this exceptional coastal investment opportunity in San Clemente’s coveted Pier Bowl. This rare 7-unit apartment complex offers investors the perfect blend of prime location, turnkey condition, and income growth potential. Just steps from the sand, pier, and Avenida Del Mar (downtown), the property features ocean views from most units and an unbeatable walkable lifestyle that consistently drives tenant demand. Each two-bedroom, one-bath unit has been tastefully upgraded featuring new kitchens with modern cabinetry, stainless steel appliances, stylish tile backsplashes, and contemporary flooring throughout. The bathrooms have been fully remodeled with new vanities, tile surrounds, and shower/tubs while the building itself has been meticulously maintained with a newer roof, dual-pane windows, and fresh exterior paint—minimizing capital expenditures. Several units offer private balconies, and all benefit from covered carport parking. With approximately 26% rental upside, this is an extraordinary chance to acquire a low-maintenance coastal multifamily asset in one of Southern California’s most desirable beachside submarkets.

Listing Agent

Rick Applebaum

Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01273871 Listed on: 11/17/2025

Co-Listing Agent

Paul Espinosa

Morgan Skenderian Brokerage Email: rma@morganskenderian.com License #01942627

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1960

Lot Details

  • 5,600 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 5,543 Sq Ft Home
  • 3-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Parking

  • 7 Parking Spaces
  • 7 Carport Spaces

Utilities

  • Wall Furnace

Listing and Financial Details

  • Legal Lot and Block 11 / 7
  • Tax Tract Number 785
  • Assessor Parcel Number 69202604
  • $50 per year additional tax assessments

Community Details

Recreation

  • Fishing
  • Water Sports
  • Bike Trail

Building Details

  • 7 Leased Units
  • Rent Control
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $300
  • Fuel Expense $271
  • Gardener Expense $1,440
  • Insurance Expense $6,929
  • Maintenance Expense $6,933
  • Pest Control $804
  • Trash Expense $1,541
  • Water Sewer Expense $3,100
  • New Taxes Expense $46,438
  • Operating Expense $68,245
  • Gross Income $238,235
  • Net Operating Income $162,843

Additional Features

  • 7 Units
  • Laundry Facilities

Property Details

Home Type

Apartment

Year Built

Built in 1960

Lot Details

0

Listing Details

  • CapRate: 3.54
  • Property Attached: No
  • Water Sewer Expenses: 3100.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 69202604
  • Year Built: 1960
  • Special Features: UnderContract

Interior Features

  • Fireplace: No
  • Stories: 3
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Three Or More
  • Price Per Square Foot: 829.88

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 7.00
  • Total Parking Spaces: 7.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 804.00
  • Sewer: Public Sewer
  • Trash Expense: 1541.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Fishing, Watersports, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 5600.00
  • Lot Size Acres: 0.1286

Multi Family

  • Electric Expense: 300.00
  • Fuel Expense: 271.00
  • Gross Income: 238235.00
  • Gross Multiplier: 19.31
  • Gross Operating Income: 231088.00
  • Gross Scheduled Income: 238235.00
  • Insurance Expense: 6929.00
  • Laundry Income: 1080.00
  • Lot Size Area: 5600.0000 Square Feet
  • Maintenance Expense: 6933.00
  • Maintenance Percent: 3.00
  • Net Operating Income: 162843.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 68245.00
  • Operating Expense Percent: 28.60
  • Rent Control: Yes
  • Total Actual Rent: 237144.00
  • Total Expenses: 68245.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 46438.00
  • Tax Block: 7
  • Tax Lot: 11
  • Tax Tract Number: 785
  • TaxOtherAnnualAssessmentAmount: 50.00

Map

Range of Values:

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Value Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $41,375 $4,167,363 $3,950,878 $216,485
2024 $41,375 $4,085,650 $3,873,409 $212,241
2023 $40,499 $4,005,540 $3,797,460 $208,080
2022 $39,727 $3,927,000 $3,723,000 $204,000
2021 $27,140 $2,680,505 $2,510,166 $170,339
2020 $26,870 $2,653,020 $2,484,427 $168,593
2019 $26,341 $2,601,000 $2,435,712 $165,288
2018 $25,835 $2,550,000 $2,387,952 $162,048
2017 $2,050 $198,410 $68,531 $129,879
2016 $2,011 $194,520 $67,187 $127,333
2015 $1,979 $191,599 $66,178 $125,421
2014 $1,939 $187,846 $64,881 $122,965
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/17/2025 11/17/25 For Sale $4,600,000 +19.5% $830 / Sq Ft
01/29/2021 01/29/21 Sold $3,850,000 -3.8% $695 / Sq Ft View Prior Sale
11/24/2020 11/24/20 For Sale $4,000,000 0.0% $722 / Sq Ft
09/12/2020 09/12/20 Rented $2,550 0.0% --
09/08/2020 09/08/20 For Rent $2,550 0.0% --
05/31/2017 05/31/17 Sold $2,500,000 -10.7% $429 / Sq Ft View Prior Sale
04/03/2017 04/03/17 For Sale $2,800,000 0.0% $480 / Sq Ft
02/10/2014 02/10/14 Rented $1,500 0.0% --
02/10/2014 02/10/14 For Rent $1,500 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25261999

California Regional Multiple Listing Service (CRMLS)