2238 Manchester Avenue, Cardiff By The Sea, California 92007, Cardiff By The Sea, 92007 - 0 bed, 0 bath
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Cardiff By The Sea, California 92007
This Quadruplex Residential Income Asset is a High-Potential Investment Opportunity, listed at $3,600,000—positioned well below the $3,761,820 Fair Market Value by 4%. This valuation gap offers $161,820 in Instant Equity. Featuring an Excellent Condition Rating with 2020 high-end renovations and a 2024 structural inspection, this turnkey property minimizes capital expenditure. Located in the premier Cardiff Walking District near top-rated schools like Pacific Trails Middle, it is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers seeking stable coastal cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2238 Manchester Avenue Subject | $3,600,000* List Price | 0 | 0 | 3,200 | $1,176 | - |
A 2511 Manchester Ave Active | $2,795,000 List Price | 3 | 3 | 2,212 | $1,264 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1973, the property underwent an extensive high-end interior renovation of all four units in 2020, featuring modern kitchens and designer bathrooms with glass-enclosed showers. Critical systems and structural elements are in mint condition, supported by a 2024 balcony safety report and a 2025 subterranean termite treatment, meeting the criteria for a property with no deferred maintenance.
Middle School: Pacific Trails Middle (10/10).
Situated in the highly desirable Cardiff 'Walking District,' the property is steps from Glen Park and within walking distance to Cardiff State Beach and Seaside Market, ensuring premium tenant demand.
All four units underwent extensive high-end interior updates in 2020, offering modern finishes that command top-market rents and reduce immediate capital expenditure requirements.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =0, other record lot size in square feet = 5290.
At a $3.6 million valuation, the entry price is significant, which may result in a lower initial capitalization rate and tighter cash flow margins for traditional real estate investors.
The 0.12-acre lot is relatively compact for a four-unit structure, offering minimal private outdoor space for tenants and limited potential for future site expansion or additional parking.
4-plex nestled in the highly desirable Walking District neighborhood of Cardiff-by-the-sea. This beautifully situated 3,200 sq ft building offers an exceptional coastal setting with tranquil ocean breezes and westerly sunset skies. Walkable to Cardiff State Beach, Seaside Market and the coastal rail trail all within minutes. Glen Park is just steps away! Inside the thoughtful and extensively updated interiors that were completed for all 4 units in 2020 in high end finishes. Each unit is a 2bed/1bath and approx 800 sq ft each. Units 3 & 4 can be shown on short notice. Entire structure was fumigated for drywood termites in Sept 2020 and treated for subterranean termites in Aug 2025. Stairs, elevated walkway & balcony inspection was completed in Aug 2024. EEE-report in good condition and is availble for review.
No exterior & parking available.
Grades K-3 • 0.4 mi
Grades 3-6 • 0.9 mi
Grades 7-8 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.5 | 33% |
| Baths | 0.0 | 2.5 | 33% |
| Square foot | 3,200 | 2,792 | 67% |
| Lot Size | 0.12 | 5,878 | 33% |
| Price | $3.60M | $3.05M | 67% |
| Price per sq ft | $1.1K | $1.1K | 50% |
| Built year | 1973 | 1974 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 110 | 33% |
May 28, 2026
$3,600,000
Initial Listing
Aug 16, 2002
$875,000
Public Record
Jan 31, 2002
$700,000
Public Record
Apr 13, 2001
$38,000
Public Record