Investment Overview

Marcus & Millichap is pleased to present Villa Azure! Villa Azure is one of the Most Iconic Luxury Beach Front Homes located on the boardwalk in Mission Beach, San Diego. Approximately 60 Feet of Frontage on Ocean Front Walk with unobstructed views of the Pacific Ocean. The property is known as Villa Azure, and it is one of the most iconic Luxury Homes on the Boardwalk!! Rebuilt in 2010 the 2,830 Square Foot 5 Bedroom/5 Bath Single Family (Stand Alone) Home also includes a 2-car garage and 2 off-street parking spaces. All of the doors facing the ocean are accordion style, so they open up to the warm coastal breeze. There is a large outdoor patio on the ground level that has a firepit as well as a large 8-person Jacuzzi/Spa that offers a view of the Pacific Ocean. A unique feature is the 3rd floor of this house. It offers a large Living Room, a Partial Kitchen, and a huge balcony that surrounds most of this 3rd level. There is an outdoor seating area and BBQ/Bar allowing your guests to entertain in privacy high above the Boardwalk with an almost 360-degree view. This is an Excellent Opportunity to obtain a property needing some rehabilitation priced at a discount well below other nearby comparable sales. About a year ago the property experienced some water damage related to heavy rains. The Seller had a full forensic study completed to estimate the damage to get the property back to livable condition. This study is available to prospective buyers to review. Prior to the water damage, the property was operated by Bluewater Vacation Rentals and averaged between $2,000 to $3,200/night depending on the season. Bluewater is a large Vacation Rental Company, and this was one of their most popular Rentals. The current estimate is that once the property is back in its previous condition the income should be around $550,000/year.