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117 Clarissa Ave,Avalon, CA 90704

    Offered At: $2,999,000
  • Square Feet: 7,512
  • Year Built: 2006
  • Lot Size: 2722 Sq. Ft.

117 Clarissa Ave

Property Information for 117 Clarissa Ave,Avalon, CA 90704

Property Description

This is a RARE opportunity to own a real estate investment in Avalon-CATALINA ISLAND. The building totals 7,512 square feet (+ / -) per Assessor with a roof top ocean view deck. The fee-simple lot is approximately 2,722 sq.ft.

Property offers: 3 office spaces, 2 residential-- 2 bedroom units and a fully operational garage/golf cart service. (YAMAHA is not part of this offer or listing) Fee simple land. All units have long term reliable tenants.

Property Features (from Listing agent:)

2 Residential Units: 2 bedroom/2 bath

3 office spaces, and one fully operational mechanics garage. (Businesses not included)

Total square footage of 7512 (per assessor)

Total interior living space of 2722(per assessor)

Fee simple land

Listing Terms:  CASH or Cash to New Loan

Assumable Loan : 1st TD of approx $875,000.

Interest rate fixed @ 3.68 %/ 15 yr amortized

Total income:

                           2/2 res#1= $1800.

                           2/2 Res #2= $2000.

                           Office 1= $800.

                           Office 2= $800.

                           Office 3= $900.

                           Garage= $5,000.

                  Total= $11,300. gross rent per month

Each based on monthly income per unit.  All units are occupied with full time long term tenancies.  Longest lease is Catalina Spa with a term of 5 years left, expires 2022.

All others on annual leases but all would like to stay when possible.  Present property taxes @ $22,000/annually

Please call for further information.

~Listing courtesy of Kathleen Mead, Starr Realty