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317 22nd Street

Huntington Beach, CA 92648
  • $2,750,000
  • STATUS: Active Under Contract
  • ON SITE: 40 Days
  • ID#: OC24051319
Under Contract
UPDATED: 191 min ago
$2,750,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1973
County:

School Ratings & Info

Listing Agent(s): Scot Campbell of Coldwell Banker-Campbell Rltrs (714-960-6384) and Michael O'neill II of CB Richard Ellis, Inc.()


Description

317 22nd Street in Downtown Huntington Beach was one of the last double (50 foot) lot fourplexes constructed on the Downtown Numbered Streets before custom builders switched to the development of 2 & 3 story SFRs constructed on 25 foot wide lots. Most fourplexes built in the area are in the 3600 to 3900 square foot range; however, this building is 4101 square feet due to an excellent design & rear 2nd floor cantilever. There are 3 fourplexes on the 300 block of 22nd St, the other structures both in front and behind are single lot SFRs (which are valued in the $1.75 to $2.5 million range). This building defines a fourplex which is suitable for an owner-user who intends to occupy one of the units (full time or as a "beach close" second home). High income tenants are naturally drawn to the area by nearby attractions including: The soft sands & ridable waves of Surf City, blufftop park/bike path, Beach Playground, Pier, Main Street Village, restaurants, shopping, entertainment, & numerous events (4th of July parade & fireworks, US Open of Surfing, Pacific Airshow, & more). The building next door 321 22nd Street is also available. This is the first time these properties (317 & 321 22nd St) have been offered for sale in 40 years. They are arguably the best owner user quality buildings that have come on the market in several years. The mix of units includes (two) 3 BR " 2.5 BA units, (one) 2 BR " 1 Ba unit, and (one) 1BR " 1BA unit. Each 3 bedroom unit has two garage spaces, and there is one garage space each for the other two units (for a total of 6 garage spaces). There is onsite parking for two additional cars. Built in 1973, and individually metered for gas & electric. The building is only 6 blocks from award winning Elementary & Middle Schools " 10 blocks from Huntington Beach High School (which offers the Academy of Performing Arts and Nationally Ranked athletics programs). Fantastic upside potential - Current rents can be increased significantly to estimated market levels. Contact Listing Agent for rent comparables. Given its proximity to beach, pier, and Main Street Village, this offering represents an attractive opportunity to rehab and substantially increase rental income for the long term income property investor or owner occupant. The location & two large 3 bedroom front units makes these buildings ideal for partnerships. Note: 321 22nd Street is a model match building with same footprint & floorplans on the same size (50 X 115) lot.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-23T14:44:47.85. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
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317 22nd Street Huntington Beach, CA 92648

  • Price: $2,750,000
  • Status: Active Under Contract
  • On Site: 40 Days
  • Updated: 191 min ago
  • ID#: OC24051319
0
Beds
0
Baths
0
½ Baths
0.13
Acres
1973
Built
Neighborhood:
Downtown Area (Down)
County:
Orange
Area:
15 - West Huntington Beach
Property Description
317 22nd Street in Downtown Huntington Beach was one of the last double (50 foot) lot fourplexes constructed on the Downtown Numbered Streets before custom builders switched to the development of 2 & 3 story SFRs constructed on 25 foot wide lots. Most fourplexes built in the area are in the 3600 to 3900 square foot range; however, this building is 4101 square feet due to an excellent design & rear 2nd floor cantilever. There are 3 fourplexes on the 300 block of 22nd St, the other structures both in front and behind are single lot SFRs (which are valued in the $1.75 to $2.5 million range). This building defines a fourplex which is suitable for an owner-user who intends to occupy one of the units (full time or as a "beach close" second home). High income tenants are naturally drawn to the area by nearby attractions including: The soft sands & ridable waves of Surf City, blufftop park/bike path, Beach Playground, Pier, Main Street Village, restaurants, shopping, entertainment, & numerous events (4th of July parade & fireworks, US Open of Surfing, Pacific Airshow, & more). The building next door 321 22nd Street is also available. This is the first time these properties (317 & 321 22nd St) have been offered for sale in 40 years. They are arguably the best owner user quality buildings that have come on the market in several years. The mix of units includes (two) 3 BR " 2.5 BA units, (one) 2 BR " 1 Ba unit, and (one) 1BR " 1BA unit. Each 3 bedroom unit has two garage spaces, and there is one garage space each for the other two units (for a total of 6 garage spaces). There is onsite parking for two additional cars. Built in 1973, and individually metered for gas & electric. The building is only 6 blocks from award winning Elementary & Middle Schools " 10 blocks from Huntington Beach High School (which offers the Academy of Performing Arts and Nationally Ranked athletics programs). Fantastic upside potential - Current rents can be increased significantly to estimated market levels. Contact Listing Agent for rent comparables. Given its proximity to beach, pier, and Main Street Village, this offering represents an attractive opportunity to rehab and substantially increase rental income for the long term income property investor or owner occupant. The location & two large 3 bedroom front units makes these buildings ideal for partnerships. Note: 321 22nd Street is a model match building with same footprint & floorplans on the same size (50 X 115) lot.
Exterior Features

Architectural Style Traditional Construction Materials Stucco Entry Level 1 Entry Location 1 Foundation Details Slab Lot Features Sprinklers In FrontRectangular Lot Number Of Separate Electric Meters 4 Open Parking Spaces 2 Parking Features Garage Parking Total 8 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Alley PavedPaved Roof Flat Spa Features None Spa YN No View None View YN No

Interior Features

Accessibility Features None Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features GasLiving Room Fireplace YN Yes Flooring Carpet Heating Natural Gas Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features BikingCurbsDog ParkFishingStreet LightsSidewalksWater Sports Current Financing None Electric Electricity - On Property Electric Expense 481 Garage YN Yes Gross Income 129892 Gross Scheduled Income 129892 Insurance Expense 3000 Land Lease YN No Laundry Features Common AreaLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 2800 Net Operating Income 81663 New Construction YN No New Taxes Expense 30254 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 44346 Other Expense 2675 Possession See Remarks Property Sub Type Quadruplex Rent Control YN No Security Features Smoke Detector(s) Senior Community YN No Sewer Public SewerSewer Tap Paid Special Listing Conditions StandardTrust Tenant Pays Electricity Total Actual Rent 10600 Trash Expense 1835 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 3884 Vacancy Allowance Rate 3 Water Sewer Expense 1501 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-23T14:44:47.85. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
 
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Robin McCann | EXIT Alliance Realty
43521 Rige Park Drive, Suite 201
Temecula CA, 92590
Listing Agent(s): Scot Campbell of Coldwell Banker-Campbell Rltrs (714-960-6384) and Michael O'neill II of CB Richard Ellis, Inc.()