33572 St Dana Point, CA 92629

Property Details for 33572 St

Year built

1971

Property size

4,048 SF

Property type

Apartment buildings

Description

This exceptional 4-unit apartment building in Dana Point, California, presents a compelling investment opportunity. Situated on a spacious 9,583 square foot lot at 33572 Street of the Blue Lantern (APN 682-043-18), this fee-simple property boasts 4,048 square feet of living space and offers a blend of 2 and 3-bedroom units, three of which are townhouse-style. Built in 1971, the property has been meticulously maintained by the current owners for over 50 years, benefiting from recent upgrades including newer windows, a hot water heater, forced air units, and in-unit washer/dryer sets. The property also underwent fumigation approximately one year ago. The building features ample parking with 12 spaces, providing convenience for residents. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $76,779, with a pro-forma NOI projected at $122,175, representing a significant potential for increased returns. The asking price is $2,585,000, translating to $646,250 per unit and $638.59 per square foot. The current cap rate stands at 2.97%, while the pro-forma cap rate is projected at 4.73%. This stabilized investment offers a rare chance to acquire a well-maintained multifamily property in a highly desirable rental market. The property's location in Dana Point, combined with its features and upgrade potential, makes it an attractive proposition for discerning investors seeking strong returns.

Location Insight

City

Dana Point

County

Orange

State

California

Longitude

-117.703

Latitude

33.4753