7882 Liberty Dr
Huntington Beach, CA 92647
7882 Liberty Dr, 4+1 Units, Huntington Beach · Multifamily Property For Sale · 4 Units

Extremely well-located 4 units in Huntington Beach ready for value-add renovation and reposition. The property was constructed in 1979 and has superior upside potential with exterior paint along with interior upgrades and renovations. The property, like the adjacent buildings on each side constructed by the same builder, features (1) three-bedroom, 2.5-bath townhouse measuring approximately 1600 sq. ft; (1) two-bedroom, two-bath unit which is 825 sq. ft.; and (2) two-bedroom, two-bath units that are 809 sq. ft. This property also features an “accessory” unit as do the adjacent fourplexes on each side. According to a recent appraisal, this “accessory” upstairs studio unit has been grandfathered by the City and generates an additional $975 per month which can be easily increased to at least $1,150+ per month. The owner pays the utilities for this unit in addition to the water, sewer, gas, and electricity for the laundry room and common area. The front unit is massive and features a townhouse floorplan with a private side patio leading to an attached two-car garage, two balconies overlooking the front entrance, a fireplace in the living room, and interior washer/dryer hookups. This three-bedroom floorplan has potential rent of $2,395 monthly. The downstairs two-bedroom, two-bath unit also features a very large private yard with a rental lift of approximately 28% with renovation upgrades. Both upstairs two-bedroom units have balconies and spacious floorplans which are light and bright. Rarely can one find a value-add opportunity in a coastal community with a GRM of 15.10X, market cap rate of 4.3%, and gross income potential of $107,280. There is a recent comparable sale at 17681 Van Buren Lane that closed on August 22, 2018 at $1,625,000. This property also features a “bootleg” unit. Submit your offers!