Live in One Rent the Other
• 1900 sqft , 4 bath , 4 bdrm single story – FOR SALE USD695,000 .
in Playa Flamingo, Playa Flamingo
TWO RECENTLY COMPLETED HOMES IN MAR VISTA (MIRAMAR) ON ONE (1) 1.25 ACRE LOT
Offered for sale are two brand new homes located on Mar Vista (Miramar) lot 29 in Playa Flamingo. The ocean view homes are situated within the prestigious, low-density Miramar subdivision of the 900-acre double gated community of Mar Vista. Mar Vista is a secure and private community with a popular on-site restaurant (Gracia). Other attractive community features include a club with sweeping ocean views as well as a spacious community pool, an on-site international school (La Paz), clay tennis courts, extensive hiking trails (in close proximity to the subject property), and a gym/yoga studio (to be completed by December 2018). On lot 29 are two (2) 2 Bedroom, 2 Bath homes with outstanding Mar Vista amenities and finishes, and each home has a private pool. Each house contains 950 square feet (under A/C) on a lot that totals approximately 1.25 acres (5,000 m2).
The property is offered at $695,000 (priced to sell), an attractive entry point of $347,500 per home for either an owner occupier, partial owner occupier, or investor.
Two homes on one lot create many interesting options for buyers, who could be any of the following:
1) A retired couple that would like to live in one unit and rent the other one out
2) An investor seeking high current return (‘rent on price’ cap rate of approximately 10%) as well as significant appreciation potential
3) Close family or friends that would like to live next to one another
Other significant investment attributes include:
Financing available up to $400,000 with attractive terms available for owner occupiers or partial owner occupiers
Purchase optionality with attractive occupancy, long-term rental, and short-term rental alternatives
Potential to expand House B to 3 Bedrooms
Potential to build third house on the subject property below House B
HOA bill of $290/month on lot 29 equates to $145/month/home
This offering is priced to sell and won’t last long!