Property Detail

Description

386 Mira Mar Avenue presents a rare opportunity to acquire a trophy Spanish Revival fourplex, offering a strong cap rate of over 4% and a pro forma cap rate of 4.85% in the highly sought-after Belmont Heights neighborhood. This 4,764 SF property, situated on a 5,095 SF lot, features an attractive unit mix of three 2BD/1BA units and one 3BD/2BA unit each showcasing charm with hardwood flooring, tiled kitchens and bathrooms and in-unit laundry hookups. A sundeck at the rear of the property provides excellent outdoor space. Each unit is separately metered for gas and electricity, with tenants responsible for all utilities except water/sewer, trash, and gardening services. The property also offers ample parking, including (3) assigned garage spaces and (1) assigned carport spaces. This prime location has a walk score of 89 and grants convenient access to the vibrant 4th Street corridor, home to boutique retail, popular cafes, and established nightlife. BACK ON THE MARKET. THE LAST BUYER DID NOT PERFORM AFTER ALL CONTINGENCIES WERE REMOVED.