Offered at $2,500,000 12750 High Bluff Drive, Suite 300 San Diego, CA 92130 C 619.804.5686 | O 619.207.4005 | darin@TrioloRealty.com | TrioloRealty.com 215-217 N Granados Ave. Solana Beach, CA 92075 TRANSFORMED SOLANA BEACH OCEAN VIEW DUPLEX
PROPERTY HIGHLIGHTS
• Flexibility of Investment Options: Long term rental
$98,400/ YR -- 2.7% CAP Rate | Short term rental
$172,000+/ YR -- 5.6% CAP Rate | Combine into single family | Completely Redevelop
• High Rental Demand Location! West of I-5. Walk to the beach, train station & popular Cedros Ave. Design District.
• LOWER UNIT #215: 2BD / 1BA / 1210 SF
• UPPER UNIT #217: 1BD / 1BA / 531 SF
• Ocean View Decks on Each Unit
• 2 Driveway Parking Spaces | Separate Laundry/ Storage Room
C 619.804.5686 | O 619.207.4005 | darin@TrioloRealty.com | TrioloRealty.com
SAVVY INVESTOR’S DREAM
Stunning transformation of this Solana Beach ocean view duplex on desirable N. Granados west of I-5. Lower level Unit 215 boasts 2 BD/ 1BA + Bonus room/ approx. 1210 SF that lives like a single family residence. Completely remodeled down to the studs with all new electrical wiring and panel/ plumbing/ drywall/ windows/ lighting/ rear foundation stem wall/ opened up kitchen/ reconfigured bathroom/ mini-splits for heat and A/C/ and incredible ocean view deck with private yard off the rear of the home. Projected long term tenant rent at $5000/month +.
The upper unit is a spacious 1 BD/ 1 BA/ 531 SF with new bathroom/ upgraded electric panel/ new wall heater/ fresh paint/ new appliances/ and a massive ocean view deck. Projected long term tenant rent at $3200/month.
All work permitted and done to code per City of Solana Beach. Flexibility for owner occupied with income- crush it during race track season to guests that will pay top dollar, short term gross rental income projections of $171,448/ year based on 66% occupancy which is very conservative, or long term rental income projections of $98,400/ year. 1031 exchange buyers will be grateful to park their money in this desirable beach community with ferocious rental demand and lucrative long term returns. A short walk to Cedros Avenue, home to more than 85 distinctive retailers and shops resembling a European side-street. This iconic location features world-famous Belly-Up tavern, Pillbox, salons and spas, art galleries, cafes and restaurants, fashion and jewelry boutiques, and so much more!
C 619.804.5686 | O 619.207.4005 | darin@TrioloRealty.com | TrioloRealty.com
Watch the Property Video here
Complete
2 BD/ 1BA + BONUS ROOM 1210 SF
lives
a single family
spacious fenced yard 3D Virtual Tour link LOWER UNIT 215
remodel that
like
with
3D Virtual Tour link TOP UNIT 217
1 BD/ 1 BA/ 531 SF new bathroom/ upgraded electric panel/ new wall heater/ fresh paint/ new appliances/ and a massive ocean view deck
Gross Monthly Income Insurance Total Net Operating Income Maintenance GRM Water STRO Fees Annual Expenses Sales price of $2,500,000 Gross Annual Income Landscaping CAP Rate SDGE Property Taxes Total Annual Expenses 215 N. Granados Ave 217 N. Granados Ave. Vacant Lease through August 31, 2023 2/1.0/ + Bonus Room 1/1.0 1210 531 $5,000.00 $3,200.00 Financial Analysis Long Term Tenancy Projected Short Term Vacation Projected at 66% Occupancy w/ MGMT Short Term Vacation Projected at 66% occupancy self-managed Actual Income Lease Type Bedroom/bathroom Size of Unit (SF) Projected Rent / Month $8,200.00 $1,454.00 $67,166.00 $1,200.00 25.4 $1,080.00 $98,400.00 $1,200.00 2.7% $360.00 $25,940.00 $31,234.00 $14,287.00 $1,454.00 $105,924.40 $1,200.00 14.6 $1,080.00 $34,289.60 $171,448.00 $1,200.00 4.2% $360.00 $25,940.00 $65,523.60 $14,287.00 $1,454.00 $140,214.00 $1,200.00 14.6 $1,080.00 $171,448.00 $1,200.00 5.6% $360.00 $25,940.00 $31,234.00 215-217 N. GRANADOS AVE. C 619.804.5686 | O 619.207.4005 | darin@TrioloRealty.com | TrioloRealty.com
Each Office is Independently Owned and Operated. If your property is listed with another broker, this is not a solicitation. Agent does not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. Broker DRE #01524589 Darin Triolo Realtor | President, Listing Agent DRE #01376927 619-804-5686 darin@triolorealty.com www.triolorealty.com Alden Cole Realtor, Client Concierge DRE #01083145 858-342-8782 alden@triolorealty.com www.triolorealty.com Watch,
As seen on
American Dream TV: DISCOVER SOLANA BEACH episode here
