1015 Georgia Street, Huntington Beach, California 92648, Huntington Beach, 92648 - bed, bath
ACTIVE$2,600,000
1015 Georgia Street, Huntington Beach, California 92648
0Bed
0Bath
4,665Sqft
7,405Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Huntington Seacliff Elementary School (9/10). High School: Huntington Beach High School (9/10).
Top Cons:
Property Age: Built in 1978, the property's age suggests that major systems (e.g., plumbing, electrical, roofing) and finishes may be original or older, potentially requiring significant capital expenditures for updates or replacements in the future.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1978 (47 years old).
Condition: The property was built in 1978, making it 47 years old. While described as 'well maintained' and occupied, the listing explicitly states 'unspecified interior modernization' and suggests that finishes and major systems 'may be original or older' and 'dated.' The provided images are all aerial/exterior, offering no insight into the condition of kitchens, bathrooms, appliances, or other interior features. Without evidence of recent significant renovations, it's reasonable to assume that while functional, the interior components are outdated, aligning with the 'Fair' condition criteria.
Year Built
1978
Close
-
List price
$2.6M
Original List price
$2.6M
Price/Sqft
$557
HOA
-
Days on market
-
Sold On
-
MLS number
OC25106441
Home ConditionFair
Features
Good View:
Patio
View-
About this home
A rare, well maintained 5 unit multi-family property located near downtown Huntington Beach. This property is currently occupied with great tenants, 4 of which are on leases and one month to month. There are 3 units with 2 bedrooms, 1 unit that has 3 bedrooms and 1 studio apt. There are 4 single car garages to the front of the building and a separate 2 car garage located to the rear of the property. Each unit is separately metered and the entire property is professionaly managed by a property managment company. However, this property can easily be maintained by an owner/manager and would increase your cap rate. The property is conveniently located just a short distance to downtown, the pier and the beach.
Nearby schools
7/10
John R. Peterson Elementary School
Public,•K-5•0.4mi
8/10
Agnes L. Smith Elementary School
Public,•K-5•1.0mi
6/10
Joseph R. Perry Elementary School
Public,•K-5•1.2mi
9/10
Huntington Seacliff Elementary School
Public,•K-5•1.8mi
7/10
Ethel Dwyer Middle School
Public,•6-8•0.9mi
8/10
Isaac L. Sowers Middle School
Public,•6-8•1.4mi
9/10
Huntington Beach High School
Public,•9-12•1.1mi
9/10
Edison High School
Public,•9-12•1.3mi
Condition Rating
Fair
The property was built in 1978, making it 47 years old. While described as 'well maintained' and occupied, the listing explicitly states 'unspecified interior modernization' and suggests that finishes and major systems 'may be original or older' and 'dated.' The provided images are all aerial/exterior, offering no insight into the condition of kitchens, bathrooms, appliances, or other interior features. Without evidence of recent significant renovations, it's reasonable to assume that while functional, the interior components are outdated, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Great Schools: Elementary School: Huntington Seacliff Elementary School (9/10). High School: Huntington Beach High School (9/10).
Exceptional Location: The property boasts a prime location near downtown Huntington Beach, the pier, and the beach, enhancing its desirability for tenants and long-term value appreciation.
Stable Income Stream: As a fully occupied 5-unit multi-family property with established tenants (4 on leases, 1 month-to-month), it offers immediate and stable rental income.
Diverse Unit Mix: The property features a varied unit composition including studio, 2-bedroom, and 3-bedroom units, catering to a broader tenant demographic and income levels.
Tenant Amenities & Operational Efficiency: The inclusion of multiple garages (4 single-car, 1 double-car) provides valuable tenant parking, and separately metered units reduce the owner's utility expenses and management burden.
Well-Maintained Asset: The property is described as 'well maintained,' suggesting good upkeep and potentially minimizing immediate repair and maintenance costs for a new owner.
Cons
Property Age: Built in 1978, the property's age suggests that major systems (e.g., plumbing, electrical, roofing) and finishes may be original or older, potentially requiring significant capital expenditures for updates or replacements in the future.
Management Cost Impact on Cap Rate: While professionally managed, the description indicates that an owner/manager could increase the cap rate, implying that current management fees are impacting profitability and requiring owner involvement to maximize returns.
Unspecified Interior Modernization: Despite being 'well maintained' overall, the property description does not detail recent interior renovations of individual units, suggesting that some units may have dated finishes that could limit rental upside without further investment.