$5,799,000 Price Analysis   ♡   Encinitas, CA 92024 Unknown bed None bath 3,840 SqFt ($1510/SqFt) 6,007SqFt lot. Built 1978 Listed 2024-05-16 | Ⓧ USDA Ineligible due to price & location near Encinitas |
Welcome to 1629-1631 Neptune Ave
Two remarkable turn-key ocean view homes that offer the epitome of coastal lifestyle, combined with an excellent investment opportunity. Please dive into the 3D matter port VIRTUAL TOUR to experience the exceptional layout! Video Tour also available. 2 properties with 2 distinct APN's being sold together. Price is for both units. This unique property offers potential owners the rare chance to own a piece of the coveted ocean view lifestyle, with the added advantage of a versatile living arrangement, cashflow and equity upside. All furniture and personal property convey! Each unit is a gem in its own right, featuring a primary living space with ocean views, alongside a junior units with separate entry. The junior units can flow seamlessly with primary units or can be closed off to cater to a variety of living situations. Capitalize on both for a mix of rental income and Neptune equity appreciation, this property does it all with unmatched flexibility. The views from 1629-1631 Neptune Ave are nothing short of spectacular, offering residents a stunning panorama of the ocean's majesty. The property sits merely steps away from Grandview Beach, making it a haven for beach and ocean lovers. The bustling Neptune Avenue presents a delightful tableau of everyday coastal life that becomes a source of entertainment in itself. The avenue buzzes with an eclectic mix of people, from joggers and dog walkers to cyclists and surfers, creating a vibrant, lively atmosphere that e mbodies the essence of beachside community living. Each unit is exceptionally appointed, boasting high-quality finishes and furnishings throughout and each comes with it's wn washer dryer. There is a large separate laundry and storage room as well. Currently utilized as a vacation rental business, this property comes with a proven track record of profitability, with all financials ready to be presented to potential buyers and future cash flow already booked!
All personal property conveys to the new owner and presents a truly unique, turn-key business opportunity. The level of care and attention is exceptionally rare and ensures that the transition to new ownership will be as seamless as possible, allowing you to enjoying the property and/or generate income immediately. Weather it will be you or your guests, 1629-1631 Neptune Ave offers experiences where the beauty of nature meets the comfort of luxury living. It's an invitation to wake up every day to breathtaking ocean views, to stroll mere steps to the sand and to be a part of a vibrant community that appreciates the outdoors and all it has to offer. This property is a rare find; an astounding investment opportunity coupled with a lifestyle choice that promises unlimited possibilities.
Presented by Peter Antinucci at
Swell Property.
Property MLS #NDP2404242 from CRMLS
Additional Parcels: Yes
Lot Description: 11-15 Units/Acre
Lot Size Acres: 0.1379017
Lot Size Dimensions: 6007
Lot Size Source: Public Records
Lot Size Square Feet: 6007
Parking Total: 7
Calculated Total Monthly Association Fees: 0
County: San Diego
Cap Rate: 4.10
Source Property Type: Residential Income
Inclusions: Furniture and all personal property conveys. 5 Washers 5 Dryers Bycicles Surfboards Weights 3 BBQ's Pizza oven Stocked kitchens Linnens Etc
Insurance Expense: 5000.00
Area: 92024 - Encinitas
Source Neighborhood: 92024 - Encinitas
New Taxes Expense: 69588.00
Number of Separate Electric Meters: 1
Number of Separate Gas Meters: 1
Number of Separate Water Meters: 1
Parcel Number: 2540220202
Trash Expense: 800.00
Zoning: R11
Source System Name: C2C
$5,799,000
CRMLS
Listing removed 2024-05-07
$0
CRMLS
Listed 2024-01-12
$5,750,000
CRMLS
Listing removed 2023-07-14
$0
CRMLS
Listed 2023-06-08
$7,950,000
CRMLS
Year Built: 1978
Building Features: 1
Common Walls: No Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 46
Building Total Stories: 2
Sewer: Water Sewer Expense: 250.00
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.