Neighborhood: Cs - Corona Del Mar - Spyglass, Other (othr)
***PRICE REDUCED FOR QUICK SALE*** Prime commercial trophy asset in Corona Del Mar. The building is in immaculate condition and represents a fantastic long-term investment opportunity. Situated across from the famous 5 Crowns Restaurant, CdM’s exclusive “flower streets” and just a couple of blocks from the Corona del Mar State Beach, this location is ideal. This asset has great curb appeal, sits in a neighborhood filled with $5M -$20M homes, is near a signalized intersection on Coast Hwy between Newport Beach and Laguna Beach, all of which allow the property to benefit from strong tenant demand and an upside in potential rents. This mixed-use property has two ground level commercial units and two upper level apartments. One of the units is a restaurant with a commercial kitchen with built-in grease intercept and rooftop swamp fan. All units are individually metered and air conditioned. Nearly one million dollars in property upgrades since 2015. This gem has low management and maintenance costs. Property is ideal for a 1031 exchange upleg or for an owner-user. This is your chance to own one of the nicest properties in all of Corona Del Mar!
Note: This information is believed to be reliable; however, no warranty, express or implied, is made as to the accuracy of the information contained herein. Buyer and other parties in receipt of this information should independently confirm the accuracy of the information through their own due diligence and determine suitability of the property for their needs.