Property Detail

Description

Located in the highly desirable downtown area of Huntington Beach, this well-maintained triplex investment opportunity offers strong income potential, an excellent unit mix, and long-term upside. The property features three spacious units with separate utilities and attractive outdoor spaces. The front unit is a 3-bedroom, 2-bath with inside laundry, a detached two-car garage, and a large private backyard, creating the feel of a single-family home. The middle unit offers 2 bedrooms and 2 baths, inside laundry, a two-car attached garage without direct access, and a spacious backyard. This unit was extensively remodeled approximately three years ago with new flooring, cabinetry, countertops, updated bathrooms and shower, and fresh paint. The upper carriage unit, located above the garages, is a spacious 1-bedroom, 1-bath featuring two private balconies that capture refreshing ocean breezes. New carpeting was installed about four years ago. The property has been meticulously maintained by a longtime owner and features mature landscaping with a drip irrigation system. Utilities include three separate gas meters and three separate electric meters. The landlord currently pays water and trash. All units include full kitchens and tenants own their refrigerators. All units are currently occupied by long-term tenants who would like to remain while understanding rents will adjust toward market levels. Current gross scheduled income is approximately $85,800 annually (4.3% cap rate), with projected market rents estimated to bring gross scheduled income to approximately $113,000, offering strong upside potential. Conveniently located about one mile from Downtown Huntington Beach, the property offers easy access by bike, walk, or skateboard to shops, restaurants, and entertainment. The beach is approximately 1.5 miles away, with a park just around the corner and everyday shopping within walking distance. A rare opportunity to own a well-located income property in one of Orange County’s most sought-after beach communities.