We are pleased to offer the opportunity to acquire 16562 Goldenwest Street, a four-unit Covington-style value add apartment building in the desirable Goldenwest neighborhood of Huntington Beach, CA. Built in 1969, this well-maintained property offers 4,442 rentable SF on a 7,405 SF lot featuring an excellent unit mix of one… Read More (1) three-bedroom owner's unit and three (3) two-bedroom units with ample on-site parking including two (2) double-car garages and three (3) surface parking spaces. Each unit features spacious layouts with private patios or balconies, abundant natural light, and wall heaters, providing a comfortable and appealing living experience for tenants. The property is individually metered for gas and electricity, includes brand new water heaters in each unit, and tenants are responsible for their own trash, reducing landlord operating expenses. Additionally, an on-site laundry room offers potential for added revenue, currently not operational and with no lease on the equipment. With this rare buying opportunity, an investor will have the opportunity to capture over 45% rental upside by renovating units and taking advantage of the fundamentals fueling the rental neighborhood of the Huntington Beach community for decades to come. Read Less
Property listed by Matthews Real Estate Investment Services, Kamfar Kyle Mirrafati 866-889-0550
Listing Snapshot
Days Online
34
Last Updated
Property Type
Other
Beds
9
Square Ft.
4,442
Lot Size
0.17 Acres
Year Built
1969
MLS Number
24464845
30 Days Snapshot Of 92647
$1,242k
-1%
(avg) sold price
20
-4%
homes sold
55
-11%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1969, Building area total: 4,442, Levels: Two, Living area: 4442, 2 stories, 1 building
Cooling
None
Garage
4 spaces
Heating
WallFurnace
Income
Gross income: $101,340, Net operating income: $65,980
Lot
0.17 acres, 7,405 square feet, Size: 7,405
Parking
3 open parking spaces, 7 totals parking, Assigned, DoorMulti, Garage
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Based on information from California Regional Multiple Listing Service, Inc. as of 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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