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244-246 W Avenida Palizada

6 Unit Block of Flats £1,919,593 (£319,932/Unit) 4.03% Net Initial Yield San Clemente, CA 92672

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Investment Highlights

1 ½ Blocks to the Beach, Linda Lane Park & Casa Romantica and 2 Blocks to Avenida Del Mar
Added Value Opportunity – ±20% in Projected Rental Upside
Large ±12,196 SF Lot

Majority Single-Story Units with Canyon Views
Patios, Balconies, On-Site Parking, Laundry

Executive Summary

Morgan Skenderian is pleased to present 244 West Avenida Palizada, situated in a prime location just 1.5 blocks from the beach, scenic Linda Lane Park, and Casa Romantica. Built in 1960, the subject is comprised of five units plus one non-conforming unit. Essentially, all units are single-story and offer stunning canyon views, patios, and balconies, on-site laundry, and parking for each unit. Additionally, renters are attracted to this location for its easy access to the vibrant downtown scene, just 2 blocks away on Avenida Del Mar. With an added value opportunity of approximately ±20% in rental upside, and a spacious ±12,196 SF lot allowing for potential redevelopment, this property presents a compelling proposition for astute investors seeking a prime residential income opportunity. *Studio is non-conforming.

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	£120,831	£35.38
Other Income	-	-
Vacancy Loss	£3,624	£1.06
Effective Gross Income	£117,207	£34.32
Taxes	£19,448	£5.69
Operating Expenses	£20,316	£5.95
Total Expenses	£39,764	£11.64
Net Operating Income	£77,443	£22.68

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	£120,831
Annual Per SF	£35.38

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	£3,624
Annual Per SF	£1.06

Effective Gross Income
Annual	£117,207
Annual Per SF	£34.32

Taxes
Annual	£19,448
Annual Per SF	£5.69

Operating Expenses
Annual	£20,316
Annual Per SF	£5.95

Total Expenses
Annual	£39,764
Annual Per SF	£11.64

Net Operating Income
Annual	£77,443
Annual Per SF	£22.68

Property Facts

Price	£1,919,593	Apartment Style	Low Rise
Price Per Unit	£319,932	Building Class	C
Sale Type	Investment	Lot Size	0.28 AC
Net Initial Yield	4.03%	Building Size	3,415 SF
Gross Rent Multiplier	15.89	Number of Floors	1
No. Units	6	Year Built	1960
Property Type	Residential	Parking Ratio	2.05/1,000 SF
Property Subtype	Apartment

Price	£1,919,593
Price Per Unit	£319,932
Sale Type	Investment
Net Initial Yield	4.03%
Gross Rent Multiplier	15.89
No. Units	6
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.28 AC
Building Size	3,415 SF
Number of Floors	1
Year Built	1960
Parking Ratio	2.05/1,000 SF

Unit Amenities

Patio

Site Amenities

Courtyard

Laundry Facilities

Unit Mix Information

Description	No. Units	Avg. Rent.Mo	SF
1+1	4	£1,758	500
2+1	1	£2,004	800
Studios	1	£961.80	449

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Walk Score ®

Walker's Paradise (94)

What is a Walk Score®, Transit Score® & Bike Score®?

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Transit Score® measures access to public transit.

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What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	692-051-04	Total Assessment	£1,720,885
Land Assessment	£1,372,057	Annual Taxes	£19,448 (£5.69/sf)
Improvements Assessment	£348,827	Tax Year	2024