Development Opportunity - Build 2 Units or Add Two ADU’s

Home Properties For Sale

Development Opportunity - Build 2 Units or Add Two ADU’s

7871 Glencoe Dr., Huntington Beach 92647

DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.

Offered at:
$945,000

Property Description

We are pleased to present this development opportunity. Currently the property is a single family home that consists of 3 bedroom 2 bathroom with 2 car garage. You can either keep the existing home and add an ADU and Junior ADU or tear down and build 2 units. All 3 bedrooms have laminate wood floors. Vinyl floor and granite countertop in the bathroom. The current home needs work and is somewhat of a fixer. East and west of the house are multi-unit residential properties.

There is currently a room behind and attached to the garage with electrical but no plumbing that with the proper permits, might be able to be converted to an ADU. Buyer to contact the city to investigate all potential additions or redevelopment and/or modifications and satisfy themselves with same.

LIVING IN HUNTINGTON BEACH

Huntington Beach is a relatively large coastal city (i.e. on the ocean, a bay, or inlet) located in the state of California. With a population of 199,223 people and 42 constituent neighborhoods, Huntington Beach is the 23rd largest community in California.

Huntington Beach home prices are not only among the most expensive in California, but Huntington Beach real estate also consistently ranks among the most expensive in America.

Huntington Beach is a decidedly white-collar city, with fully 85.19% of the workforce employed in white-collar jobs, well above the national average. Overall, Huntington Beach is a city of professionals, sales and office workers, and managers. There are especially a lot of people living in Huntington Beach who work in management occupations (13.52%), sales jobs (12.60%), and office and administrative support (11.17%).

Also of interest is that Huntington Beach has more people living here who work in computers and math than 95% of the places in the US.

A relatively large number of people in Huntington Beach telecommute to their jobs. Overall, about 7.66% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

One thing that you will notice about Huntington Beach is that there is a good-sized population of people who are young, single, educated, and upwardly-mobile career starters. Many singles consider Huntington Beach a good place to live without being in a really big city, with opportunities for friendships and fun with others like themselves.

Huntington Beach is also nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Quite often, nautical areas such as these attract visitors and locals who come to enjoy the scenery and various waterfront activities.

The citizens of Huntington Beach are among the most well-educated in the nation: 42.58% of adults in Huntington Beach have a bachelor's degree or even advanced degree, whereas the average US city has 21.84% holding at least a bachelor's degree.

The per capita income in Huntington Beach in 2018 was $48,774, which is upper middle income relative to California, and wealthy relative to the rest of the US. This equates to an annual income of $195,096 for a family of four. However, Huntington Beach contains both very wealthy and poor people as well.

Current Income

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Cash Flow Analysis

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Acquisition Data

Down Payment $236,250 (25%)
Loan Amount $708,750 (75%)

Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.

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