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R E A L E S T A T E I N V E S T M E N T
1301 CORNISH DRIVEC O A S T A L M U L T I F A M I L Y
FOR SALE OCEAN VIEW DUPLEX
TABLE OF CONTENTS
1. Property Overview
2. Property Photos
3. Aerial Map
4. Ownership Options
5. Cardiff By The Sea
R E A L E S T A T E I N V E S T M E N T
PREPARED BY:
Kyle Carruthers(760) [email protected] BRE Lic# 01959946
Greg Pieratt, SIOR(760) [email protected] BRE Lic# 01438576
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1301 CORNISH DR
PROPERTY OVERVIEW
S. Coast Hwy 101
San Elijo Ave
Address: 1301 Cornish Drive
City: Cardiff By The Sea, 92007
Units: Two
Unit Mix: Two Bed, One and a Half Bath
Square Footage: 2,400 SF
Lot Size: 6,624 SF
Zoning: R11
Parking: Large Garage
Year Built: 1978
Offering Price: $2,350,000
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PROPERTY PHOTOS
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1301 CORNISH DR
PROPERTY PHOTOS
WATCH THE DRONE FOOTAGE HERE:
https://youtu.be/xg_-FjW09jI
CARDIFF BY THE SEA6
1301 CORNISH DRAERIAL AND LOCATION MAPS
N
S. Coast Highway 101
Carlsbad
Encinitas
Cardiff
Del Mar
Solana Beach
1301Cornish Drive
S. Coast Hwy 101
Santa Fe Dr1301Cornish Drive
1301Cornish Drive
CARDIFF BY THE SEA7
1301 CORNISH DRAERIAL AND LOCATION MAPS
1301Cornish Drive
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1301 CORNISH DRAERIAL AND LOCATION MAPS
Santa Fe Dr
Encinitas Ave
S. Vulcan Ave
San Elijo Ave
S. Coast Hwy 101
S. Coast Hwy 101
1301Cornish Drive
San Dieguito Academy
Swami’sBeach
Scripps Memorial Hospital Encinitas
Moonlight Beach
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4. OWNER OCCUPIED• Live in one unit and rent the other
• Rental income reduces mortgage
• Attractive financing available
1. TRADITIONAL RENTAL• $4,500 - $5,000/unit/month
• $9,000 - $10,000/month gross income
• Stable income with low management
2. SHORT-TERM FURNISHED RENTAL• $6,000 - $8,000/unit/month
• $12,000 - $16,000/month gross income
• Monthly rental with higher return *Rates Dependent on Season
5. CONVERSION• Single family area home prices
$900 - $1,300/SF+
PROPERTY EXPENSES3. VACATION RENTAL / AIRBNB / VRBO
• $300 - $600/unit/night
• $14,400 - $28,800/month gross income*
• Higher vacancy and management with highest return *Does not include vacancy or management
Taxes (1.09180%) $25,657.30
Fixed Assessments $852.96
Management Dependent on Investment Scenario
Insurance $1,000.00
H20 $1,800.00
Trash $900.00
Landscape $2,400.00
Maintenance $4,000.00
OWNERSHIP OPTIONS
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1. TRADITIONAL RENTAL
Rent Comparables
2. SHORT-TERM FURNISHED RENTAL
ADDRESS CITY BEDS BATHS RENT SQ. FT RENT PER SF 2599 Montgomery Ave Cardiff 4 2 $5,995.00 2,441 $2.46
2280 Cambridge Ave Cardiff 3 3 $4,950.00 1,620 $3.06
3690 Carlsbad Blvd Carlsbad 2 2 $7,900.00 1,000 $7.90
190 Walnut Ave Carlsbad 2 2 $7,450.00 1,400 $5.32
3057 Ocean St Carlsbad 3 2 $6,495.00 1,550 $4.19
1552 Camino Del Mar Del Mar 1 2 $7,500.00 900 $8.33
2925 Sandy Point Del Mar 3 3 $7,000.00 1,583 $4.42
2143 Via Mar Valle Del Mar 3 3 $6,950.00 1,982 $3.51
564 Ampitheatre Dr Del Mar 2 2 $6,500.00 1,318 $4.93
513 3rd St Encinitas 3 3 $5,600.00 1,200 $4.67
2022 Sheridan Rd Encinitas 3 2 $5,400.00 1,352 $3.99
703 S Vulcan Encinitas 3 3 $5,195.00 1,730 $3.00
132 Melrose Ave Encinitas 3 2 $4,995.00 1,500 $3.33
330 Shoemaker CT Solana Beach 2 3 $8,000.00 1,336 $5.99
816 Sea Turf Cir Solana Beach 2 2 $5,000.00 1,200 $4.17
ADDRESS CITY BEDS BATHS RENT SQ. FT RENT PER SF 2367 Montgomery Ave Cardiff 3 3 $8,000.00 1,800 $4.44
2225 Newcastle Ave Cardiff 3 3 $8,000.00 1,850 $4.32
2375 San Elijo Ave Cardiff 3 3 $7,790.00 2,200 $3.54
138 Chestnut Ave Carlsbad 3 2.5 $7,950.00 2,364 $3.36
111 La Veta Ave Encinitas 4 3 $8,500.00 2,452 $3.47
1515 Neptune Ave Encinitas 1 1 $4,600.00 806 $5.71
830 Highland Dr Solana Beach 3 3 $8,500.00 3,545 $2.40
OWNERSHIP OPTIONS
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4. OWNER OCCUPIED - SALE COMPARABLES
3. VACATION RENTAL / AIRBNB / VRBO
OWNERSHIP OPTIONS
ADDRESS CITY BEDS BATHS GUESTS NIGHTLY RATEOcean View House on The Hill Cardiff 2 1 4 $275.00
Cardiff Contemporary Cardiff 2 2 6 $273.00
Charming Home Cardiff 3 2 7 $400.00
San Elijo Ave Cardiff 4 2 6 $715.00
Cardiff Bliss Cardiff 3 2 6 $425.00
Ocean View Home Cardiff 3 2 7 $508.00
Forever Ocean Views Cardiff 3 3 6 $500.00
Encinitas Home Encinitas 3 2.5 6 $300.00
Moonlight Beach Encinitas 2 2 6 $317.00
FULL ADDRESS CITY UNITS # SF SOLD PRICE PRICE/UNIT PSF COEDATE1333 Cornish Cardiff 2 3,296 $2,950,000 $1,475,000 $895.02 12/22/2016
233-239 4th Street Encinitas 2 1,408 $2,200,000 $1,100,000 $1,562.50 1/28/2016
142-146 W Glaucus W Encinitas 3 2,175 $1,861,000 $620,333 $855.63 9/21/2016
729 Neptune Avenue Encinitas 2 3,060 $1,800,000 $900,000 $588.24 1/11/2017
1537 - 1539 Neptune Ave. Encinitas 2 2,000 $1,800,000 $900,000 $900.00 6/23/2016
114-116 Liszt Ave Cardiff 2 1,880 $1,760,000 $880,000 $936.17 5/27/2016
Rent Comparables
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1301 CORNISH DRABOUT CARDIFF BY THE SEA
Cardiff-by-the-Sea, usually referred to as Cardiff, is a beach community located in Encinitas, bordering Solana Beach to the south in San Diego County, California. Cardiff-by-the-Sea, is a charming, beautiful and historical northern San Diego County beach community. With a population of under 12,000, Cardiff-by-the-Sea operates as a community of the city of Encinitas with its own zip code (92007). Cardiff is an eclectic mix of long-time residents, worldwide tourists, business professionals, artisans, families, and individuals of all ages seeking to live the California dream.
1. Cardiff State Beach
2. Swami’s
3. San Elijo State Beach
4. Cardiff Reef
5. Moonlight Beach
6. San Elijo Lagoon
7. Seaside Market
8. VG’s Donuts
TOP 8 THINGS TO DO NEAR CARDIFF
Source: www.cardiff101.com
Source: https://www.encinitascoastlife.com/area/homes-for-sale-in-cardiff-by-the-sea/
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1301 CORNISH DRABOUT SWAMI’S BEACH
Swami’s is a reef point break with fun longboardable rights and on bigger days tons of fun for short boarding. You will find people practicing yoga and exercising on the beach. Don’t bring your dog on this strip of beach because they are not allowed. Taking in the view and enjoying this world class beach is something residents in Cardiff appreciate every day with a small grassy beach park in the upper parking lot complete with an iconic tiki head standing several feet high. At the entrance to the stairs down to Swami’s you will find additional icons that resemble the neighbor Swami’s Self Realization Fellowship, which the beach is named after. Take the five flights of stairs down to the beautiful beach and take in the serene and private cove that this beach offers.
By Invertzoo - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=32921789
Greg Pieratt, SIOR(760) 929-7837
[email protected] BRE Lic# 01438576
Kyle Carruthers(760) 448-1366
[email protected] BRE Lic# 01959946
1900 Wright Place Suite 200 - Carlsbad, CA 92008 | P: (760) 929-9700 F: (760) 929-9977 | www.lee-associates.comNo warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal
without notice. Any of the foregoing information will need to be separately verified by Buyer.
R E A L E S T A T E I N V E S T M E N T
1301 CORNISH DRIVEC O A S T A L M U L T I F A M I L Y
