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.
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
2/2 res#1= $1800.
2/2 Res #2= $2000.
Office 1= $800.
Office 2= $800.
Office 3= $900.
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