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838-850 Valley Ave
Coastal North Solana Beach 92075

$4,700,000
2-4 Units 11,615 sq. ft. built: 1990

Main Photo: SOLANA BEACH Property for sale: 838-850 Valley Ave
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Status:
Active
Prop. Type:
2-4 Units
MLS® Num:
240012128
Year Built:
1990
**Investment Opportunity: 5 Units on 2 Parcels for Sale** An excellent opportunity to purchase five units across two parcels. These properties underwent extensive renovations from late 2022 into 2023. The townhomes at 838 and 840 are currently occupied by excellent long-term tenants, each generating a monthly rent of $5,500. Each townhome features two large bedrooms with en-suite bathrooms, effectively providing dual master suites on the upper floor. The interiors have been upgraded with stylish flooring, modern kitchen designs, and updated bathrooms. Additional enhancements include new garage doors for each single-car garage and tasteful landscaping. A feasibility study indicates the potential for one ADU and a junior ADU (500 sq ft) per parcel. 842, 848, and 850 has 3 Units. 848 and 850 are studio apartments leased at $2,900 and $2,500 respectively. These studios boast contemporary renovations with modern kitchens, elegant bathrooms, inviting patios, and the convenience of four parking spaces. Unit 842 is a fully furnished, standalone home, presenting a lucrative investment opportunity on Airbnb, bringing in approximately $8,900 per month. This home features a spacious yard, two bedrooms, two bathrooms, and an open-concept kitchen with modern finishes. The peaceful setting and ample parking add to its appeal. Located within walking distance of the renowned Del Mar Race Track, beautiful beaches, and a variety of dining, shopping, and entertainment options, these properties offer a rare and valuable investment opportunity. Don’t miss out!
Total Floor Area:
11,615 sq. ft.
Lot Size:
E).25TO.5A
Lot Size:
11,761.2 sq. ft.
Number of Buildings:
3
Number of Units:
5
Year Built:
1990
Stories:
2 Story
Total Stories:
2
Market Area:
Coastal North
Community:
SOLANA BEACH
County:
San Diego
Neighborhood Code:
Solana Beach
Name of Complex/Subdivision:
Solana Beach
Mello Roos Fee:
0.0
Monthly Total Fees:
0.0
Other Fees:
0.0
Tenant pays:
Cable TV, Electricity, Gas/Propane, Hot Water, Trash, Water
Other income:
0
Annual expense actual:
0
Cap Rate.:
0.0
Gross Rent Multiplier:
0.0
Gross scheduled income:
132000
Unit Number for Unit 1:
838
Finished Area for Unit 1:
1,224 sq. ft.
Bedrooms for Unit 1:
2
Number of bathrooms for Unit 1:
3
Full Bathrooms for Unit 1:
2
Half Bathrooms for Unit 1:
1
Deposit for Unit 1:
5500.0
Total Rent for Unit 1:
5500.0
Projected Rent for Unit 1:
5500.0
Total Garage Spaces for Unit 1:
1
Garage for Unit 1:
Attached
Unit 1 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 1:
Yes
Unit Number for Unit 2:
840
Finished Area for Unit 2:
1,213 sq. ft.
Bedrooms for Unit 2:
2
Number of bathrooms for Unit 2:
3
Full Bathrooms for Unit 2:
2
Half Bathrooms for Unit 2:
1
Deposit for Unit 2:
5500.0
Total Rent for Unit 2:
5500.0
Projected Rent for Unit 2:
5500.0
Total Garage Spaces for Unit 2:
1
Garage for Unit 2:
Attached
Unit 2 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 2:
Yes
Unit Number for Unit 3:
848/850
Bedrooms for Unit 3:
2
Number of bathrooms for Unit 3:
2
Full Bathrooms for Unit 3:
2
Half Bathrooms for Unit 3:
0
Deposit for Unit 3:
2500.0
Total Rent for Unit 3:
2500.0
Projected Rent for Unit 3:
5400.0
Unit 3 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 3:
Common
Unit Number for Unit 4:
842
Finished Area for Unit 4:
944 sq. ft.
Bedrooms for Unit 4:
2
Number of bathrooms for Unit 4:
2
Full Bathrooms for Unit 4:
2
Half Bathrooms for Unit 4:
0
Deposit for Unit 4:
0.0
Total Rent for Unit 4:
0.0
Projected Rent for Unit 4:
8900.0
Unit 4 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 4:
Yes
Stevens and Valley
Exterior Features:
Stucco
Directions:
Do not disturb Tenants
Cooling:
None
Number of Units with Cooling:
3
Number of Units with Dishwashers:
2
Number of Units with Dryers:
4
Number of Units with Fireplaces:
2
Number of Furnished Units:
0
Number of Units with Garages:
2
Number of Units with Patios:
2
Number of Units with Range/Oven:
2
Number of Units with Refrigerators:
2
Number of Units with Washers:
1
Roof:
Tile
Security:
N/K
Fencing:
Partial
Short Sale:
No
Listing Type:
Exclusive Agency (A)
Age Restrictions:
N/K
Sales Restrictions:
N/K
Terms:
Cal Vet, Cash, Conventional, Exchange, FHA, VA
Parcel Number:
298-283-64-00
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Listed by Compass
Data was last updated June 26, 2024 at 11:10 AM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$3,372,000
Min list price:
$1,800,000
Max list price:
$6,995,000
Avg days on market:
81
Min days on market:
19
Max days on market:
240
Avg price per sq.ft.:
$381.01
These statistics are generated based on the current listing's property type and located in Coastal North. Average values are derived using median calculations.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego Multiple Listing Service, Inc.