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Listed by Kenneth Herskind • Top Gun CRE
Bought with Michael Mors • Michael Mors, Broker
Bought with Michael Mors • Michael Mors, Broker
$ 3,200,000
$ 3,200,000
Est. payment | /mo
3,050 SqFt
$ 3,200,000
$ 3,200,000
Est. payment | /mo
3,050 SqFt
Key Details
Sold Price $3,200,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 3,050 sqft
Price per Sqft $1,049
MLS Listing ID CRPTP2502048
Sold Date 09/19/25
HOA Y/N No
Year Built 1977
Lot Size 4,948 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
We are pleased to present 2024-30 Montgomery Ave. Apartments, an exclusive coastal multifamily rental property in Cardiff-by-the-Sea community and located west of Interstate 5. The subject property financials are extremely attractive for a prime coastal rental property with a current 4.11% CAP rate / 5.01% Proforma CAP rate, along with a current 17.09 GRM / Proforma 14.73 GRM. The subject property is also comprised of roughly 3,050 SF living space with a total of five units. The approximately 4,984 SF lot provides five surface parking spaces accessed from the rear alley along with spacious common area along the front and side of the property for tenants to enjoy a barbecue and other social activities. The current unit mix includes (1) two bedroom / one bath unit, (3) one bedroom / one bath units, and (1) studio unit. The building was built in 1977, and all units were completely renovated approximately eight years ago by the previous owner. The current owner has maintained all the interiors, exterior, and common areas in meticulous condition. The subject property is also within very close walking distance to some of the very best amenities that Cardiff-by-the-Sea has to offer tenants. For example, the San Elijo State Beach is only a few blocks to the west along with shopping and e
Location
State CA
County San Diego
Interior
Fireplace No
Laundry Other
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Vander Meulen Real Estate Group
Broker, REALTOR® | Lic# 00842213 | Lic# 02150745