NOT LISTED FOR SALE

33422 Cheltam Way Dana Point, CA 92629

3 Beds
3 Baths
3,752 Sq Ft
0.32 Acres

Last Sold May 24, 2021

Last sale price $1,875,000 $500 Per Sq Ft

26 Days on Market

Highlights

  • 0.32 Acre Lot
  • Del Obispo Elementary School Rated A-
  • Laundry Room

About This Home

As of May 2021

We are pleased to present 33422 Cheltam Way, a 4-unit investment opportunity located in one of Orange County's premier coastal communities of Dana Point. Perched upon a ridge, the Cheltam Way apartments offer sweeping canyon views from the building's expansive patios and balconies all while being in close proximity to the best of what the city has to offer including the revitalized and trendy Lantern District, Dana Point Harbor, and miles of iconic beaches. This exceptionally well-maintained coastal asset is desirably comprised of 1 & 2-bedroom with den units that are always in high rental demand. Step inside and tenants will enjoy upgraded kitchens, bathrooms, and flooring paired with upscale and high-end amenities such as fireplaces, dishwashers, and washer/dryer hookups. A new investor can cash-flow with as little as 25% down payment without having to invest in capital or cosmetic improvements, making the Cheltam Way apartments an exceptional addition to any investor’s portfolio. *2-Bedroom Units are 2-Bedroom + Den

Last Listed By

Rick Applebaum

Morgan Skenderian License #01273871 Listed on: 03/17/2021

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1976

Lot Details

  • 0.32 Acre Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage

Interior Spaces

  • 3,752 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 27
  • Tax Tract Number 6928
  • Assessor Parcel Number 67323105

Community Details

Overview

  • 4 Units

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $720
  • Insurance Expense $1,631
  • Maintenance Expense $5,005
  • Other Expense $2,325
  • New Taxes Expense $18,705
  • Operating Expense $28,720
  • Gross Income $100,104
  • Net Operating Income $71,384

Property Details

Home Type

Multi-Family

Year Built

Built in 1976

Lot Details

0

Parking

4

Listing Details

  • CapRate: 3.90
  • Other Phone Description: Office Phone
  • Other Phone Number: 949-251-8800
  • Property Attached: No
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 67323105
  • Year Built: 1976
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 499.73

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 13939.00
  • Lot Size Acres: 0.3200

Multi Family

  • Gross Multiplier: 17.93
  • Gross Operating Income: 100104.00
  • Gross Scheduled Income: 103200.00
  • Insurance Expense: 1631.00
  • Lot Size Area: 13939.0000 Square Feet
  • Maintenance Expense: 5005.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 71384.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Operating Expense: 28720.00
  • Operating Expense Percent: 27.80
  • Other Expense: 2325.00
  • Other Expense Description: Utility
  • Rent Control: Yes
  • Total Expenses: 28720.00
  • Vacancy Allowance: 3096
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 18705.00
  • Tax Census Tract: 423.39
  • Tax Lot: 27
  • Tax Tract Number: 6928

Range of Values:

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Average Value
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/24/2021 05/24/21 Sold $1,875,000 +1.4% $500 / Sq Ft
04/12/2021 04/12/21 Pending -- -- --
03/17/2021 03/17/21 For Sale $1,850,000 -- $493 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rick Applebaum

    Seller's Agent in 2021

    Rick Applebaum

    Morgan Skenderian

    (949) 251-8800

    2 in this area

    61 Total Sales

    Rick Applebaum
    Section Image
  • Michael Arp

    Seller Co-Listing Agent in 2021

    Michael Arp

    Morgan Skenderian

    (714) 262-8992

    1 in this area

    46 Total Sales

    Michael Arp
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW21056279

California Regional Multiple Listing Service (CRMLS)

APN: 673-231-05

California Orange County Dana Point 92629

33422 Cheltam Way, Dana Point, CA

Homes for Sale in Dana Point, CA

This home is located at 33422 Cheltam Way, Dana Point, CA 92629 since 17 March 2021. This property was built in 1976. 33422 Cheltam Way is a home located in Orange County with nearby schools including Del Obispo Elementary School, Marco Forster Middle School, and Dana Hills High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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