Multifamily

Mission Beach Dream

Listing Price: $7,950,000

Cap Rate
4.34%
Number of Units
2
GRM
14.72
Occupancy
100.00%
Price/Unit
$3,975,000
Price/Gross SF
$2,245.76
Gross SF
3,540

Investment Overview

Marcus & Millichap is pleased to present this once in a lifetime opportunity to own an investment property or a family compound located in one of Southern Californias premier beach communities. 702 & 708 Whiting Court are two adjacent Town House Condo Units located on the Mission Beach Boardwalk. Both Town Houses offer 180 degree unobstructed ocean views. The property was meticulously remodeled as new construction in December 2016 sparing no detail inside & out. Included in the offering are two individual adjacent town houses. They consist of a 1,685 square foot three bedroom/ four bath unit with over 820 sq ft of deck as well as an 1,855 square foot four bedroom/ four bath with over 650 sq ft of deck space. The current owners have occupied the 3br unit (702 Whiting Court) since it was built and have used the 4BR unit (708 Whiting Court) as a weekly/monthly vacation rental with a 2021 rate of $1,600/night plus cleaning. The demand for this unit has been extremely high with several renters asking if they can reserve it for the following year.
Both units will be sold fully furnished including all furniture (interior & exterior), televisions, appliances, hot tub, dishes & silverware. The new owner will have the ability to run one or both properties as a fully furnished vacation rental day 1. 702 includes a hot tub and 708 has 2 areas built with enough support to hold a standard sized hot tub/jacuzzi. The addition of a solar system helps to ensure minimal electric costs.

Investment Highlights

  • New construction rehab in December 2016
  • Highly upgraded from top to bottom & inside out
  • Luxury finishes throughout including high end appliances

Exclusively Listed By

Listing Price: $7,950,000

Cap Rate
4.34%
Number of Units
2
GRM
14.72
Occupancy
100.00%
Price/Unit
$3,975,000
Price/Gross SF
$2,245.76
Gross SF
3,540

Investment Highlights

  • New construction rehab in December 2016
  • Highly upgraded from top to bottom & inside out
  • Luxury finishes throughout including high end appliances

Investment Overview

Marcus & Millichap is pleased to present this once in a lifetime opportunity to own an investment property or a family compound located in one of Southern Californias premier beach communities. 702 & 708 Whiting Court are two adjacent Town House Condo Units located on the Mission Beach Boardwalk. Both Town Houses offer 180 degree unobstructed ocean views. The property was meticulously remodeled as new construction in December 2016 sparing no detail inside & out. Included in the offering are two individual adjacent town houses. They consist of a 1,685 square foot three bedroom/ four bath unit with over 820 sq ft of deck as well as an 1,855 square foot four bedroom/ four bath with over 650 sq ft of deck space. The current owners have occupied the 3br unit (702 Whiting Court) since it was built and have used the 4BR unit (708 Whiting Court) as a weekly/monthly vacation rental with a 2021 rate of $1,600/night plus cleaning. The demand for this unit has been extremely high with several renters asking if they can reserve it for the following year.
Both units will be sold fully furnished including all furniture (interior & exterior), televisions, appliances, hot tub, dishes & silverware. The new owner will have the ability to run one or both properties as a fully furnished vacation rental day 1. 702 includes a hot tub and 708 has 2 areas built with enough support to hold a standard sized hot tub/jacuzzi. The addition of a solar system helps to ensure minimal electric costs.

Exclusively Listed By

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