Courtesy: Compass
415-874-5000
Welcome to the Beach Surf View Apartments located at 510 Avenue Alhambra in El Granada; a rare coastal nine (9) unit multifamily investment opportunity in the highly desirable Pillar Point neighborhood of El Granada. -- This well-maintained property offers stunning ocean views from every unit and an exceptional unit mix of three (3) spacious 2-Bedroom/1-Bath Penthouse units (~1,000 sqft) and six (6) classic 2-Bedroom/1-Bath units (~675 sqft). -- Originally constructed in 1973 and situated on a 14,490 sqft lot, the property features approximately 9,756 sqft of improvements with 7,479 sqft of rentable space. Each unit is individually metered with all-electric appliances, and the penthouse units include in-unit washer/dryers. -- Property amenities include nine (9) carports plus two (2) open spaces, on-site laundry for units without in-unit laundry, bike storage, resident storage lockers, and an owners storage room with bathroom and sink. -- SB-721 INSPECTION IS COMPLETED/PASSED, offering added peace of mind for investors. Ideally located just a short 10-minute walk to the beach and coastal promenade, this asset combines strong in-place income (5.13% cap rate & 13.01 GRM) with long-term upside in one of the Peninsulas most supply-constrained coastal communities.
El Granada is located in California. El Granada, California has a population of 5,842. El Granada is less family-centric than the surrounding county with 22% of the households containing married families with children. The county average for households married with children is 35.93%.
The median household income in El Granada, California is $182,174. The median household income for the surrounding county is $136,837 compared to the national median of $69,021. The median age of people living in El Granada is 49.6 years.
The average high temperature in July is 72.5 degrees, with an average low temperature in January of 42 degrees. The average rainfall is approximately 23.7 inches per year, with 0 inches of snow per year.
