Tag Archives: 108 East Portal

108 E Portal

This week’s listing is a triplex in central San Clemente–great for an investor.

108 E Portal
Unit A (Lower): 3 bedrooms, 1 3/4 bathrooms
Unit B (Upper): 2 bedrooms, 1 3/4 bathrooms
Unit C (Upper): 2 bedrooms, 1 1/2 bathrooms
3,100 total square feet
$1,199,000

house 1 house 2 house 3

Here’s why I think this is a great buy:

  • The location couldn’t be better: Off El Camino Real, between Pico and Del Mar. This is prime real estate in San Clemente
  • It’s move-in ready. No work needs to be done
  • It has a cap rate of 5%, which is good for the area (cap rate is yearly income divided by purchase price)
  • The cash flow is good: About $65,000 annual gross rents (about $60,000 net income)
  • An investor could stand to turn a profit. Sample scenario: Put down 20%, take out a mortgage of $960,000. That would be cost about $4,865/month, or $58,000 per year (versus the $60,000 in net income)
  • The price per square foot is competitive at $386. In the past year, most multi-unit investment properties in this area have sold for over $400/square foot
  • There are ocean views from the top units, and a nice courtyard with the lower unit
  • There are 3 garages and 3 driveway spaces, for a total of 6 parking spots. This is essential for this area as parking can be tough, especially in summer

Want to check it out? Contact me today.