211 W Marquita

About This Property

211 W Marquita is a 24+1 unit multifamily property located in San Clemente, California. Built in 1951 and 1971, the property features an estimated 11,827 rentable square feet on a 0.61-acre lot, with a unit mix consisting of 21 one-bedroom/one-bath units, three studio units, and one non-conforming studio unit. The property also offers 23 garage spaces, 10 surface spaces, and an on-site laundry facility. 211 W Marquita is positioned in one of San Clemente’s most desirable coastal rental environments, within walking distance of beaches, schools, local shops, restaurants, bars, and everyday conveniences. The property benefits from proximity to the Avenida Del Mar dining and retail corridor, the San Clemente Pier, coastal trails, and the recently opened Miramar Food Hall in North Beach. This location provides tenants with the walkable coastal lifestyle that continues to drive demand throughout San Clemente. The offering provides investors with a clear value-add opportunity through both interior and operational upside. A new owner could pursue a comprehensive property and unit renovation program to better align the asset with current market expectations, as renovated apartment units in San Clemente have demonstrated the ability to achieve meaningful rental premiums. In addition, the property currently does not have a RUBS program in place, creating the potential to recapture a portion of utility expenses, while the existing garage and surface parking may provide an additional opportunity to generate revenue. With its coastal San Clemente location, substantial parking supply, and multiple avenues to improve income, 211 W Marquita offers investors the opportunity to reposition a well-located asset in one of South Orange County’s most supply-constrained rental markets.

Neighborhood

This property is located in San Clemente. Want to learn more about the area?

Listing courtesy of Marcus & Millichap RE Invest

Listing data from CRMLS. Deemed reliable but not guaranteed.