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Property for sale: 2024 Montgomery Ave in Cardiff by the Sea

2024 Montgomery Ave Cardiff by the Sea

Main Photo: Property for sale: 2024 Montgomery Ave in Cardiff by the Sea
$3,200,000
Prop. Type:
2-4 Units
MLS® Num:
306393881
Status:
Active
We are pleased to present 2024-30 Montgomery Ave. Apartments, an exclusive coastal multifamily rental property in Cardiff-by-the-Sea community and located west of Interstate 5. The subject property financials are extremely attractive for a prime coastal rental property with a current 4.11% CAP rate / 5.01% Proforma CAP rate, along with a current 17.09 GRM / Proforma 14.73 GRM. The subject property is also comprised of roughly 3,050 SF living space with a total of five units. The approximately 4,984 SF lot provides five surface parking spaces accessed from the rear alley along with spacious common area along the front and side of the property for tenants to enjoy a barbecue and other social activities. The current unit mix includes (1) two bedroom / one bath unit, (3) one bedroom / one bath units, and (1) studio unit. The building was built in 1977, and all units were completely renovated approximately eight years ago by the previous owner. The current owner has maintained all the interiors, exterior, and common areas in meticulous condition. The subject property is also within very close walking distance to some of the very best amenities that Cardiff-by-the-Sea has to offer tenants. For example, the San Elijo State Beach is only a few blocks to the west along with shopping and eating options such as Best Pizza & Brew, Cardiff Seaside Market, Chase Bank, Cardiff Library, Post Office, 7-Eleven, and more local businesses.
Total Floor Area:
Switch units of measure4,948 sq. ft.
Lot Size:
4,000-7,499 SF
Lot Size:
Switch units of measure4,948 sq. ft.
Number of Buildings:
1
Number of Units:
5
Total Stories:
2
Market Area:
OTHER
County:
San Diego
Neighborhood Code:
Cardiff By The Sea
Home Owner Fees:
0.0
Mello Roos Fee:
0.0
Annual expense actual:
50231
Cap Rate.:
4.11
Gross Rent Multiplier:
17.09
Gross scheduled income:
187260
Unit Number for Unit 1:
1
Bedrooms for Unit 1:
2
Number of bathrooms for Unit 1:
1
Total Rent for Unit 1:
3850.0
Unit Number for Unit 2:
2
Bedrooms for Unit 2:
1
Number of bathrooms for Unit 2:
1
Total Rent for Unit 2:
9755.0
Unit Number for Unit 3:
3
Bedrooms for Unit 3:
0
Number of bathrooms for Unit 3:
1
Total Rent for Unit 3:
2000.0
We are pleased to present 2024-30 Montgomery Ave. Apartments, an exclusive coastal multifamily rental property in Cardiff-by-the-Sea community and located west of Interstate 5. The subject property financials are extremely attractive for a prime coastal rental property with a current 4.11% CAP rate / 5.01% Proforma CAP rate, along with a current 17.09 GRM / Proforma 14.73 GRM. The subject property is also comprised of roughly 3,050 SF living space with a total of five units. The approximately 4,984 SF lot provides five surface parking spaces accessed from the rear alley along with spacious common area along the front and side of the property for tenants to enjoy a barbecue and other social activities. The current unit mix includes (1) two bedroom / one bath unit, (3) one bedroom / one bath units, and (1) studio unit. The building was built in 1977, and all units were completely renovated approximately eight years ago by the previous owner. The current owner has maintained all the interiors, exterior, and common areas in meticulous condition. The subject property is also within very close walking distance to some of the very best amenities that Cardiff-by-the-Sea has to offer tenants. For example, the San Elijo State Beach is only a few blocks to the west along with shopping and eating options such as Best Pizza & Brew, Cardiff Seaside Market, Chase Bank, Cardiff Library, Post Office, 7-Eleven, and more local businesses.
Site Influences:
Curbs
Directions:
I5 to Birmingham Dr., South on Birmingham Dr to Montgomery Ave, and left to property. Property on right side.
Number of Units with Range/Oven:
5
Number of Units with Refrigerators:
5
Number of Units with Washers:
5
Pool:
N/K
Listing Type:
Exclusive Right (R)
Terms:
Cash, Exchange
Assessments:
Yes/Remarks
Parcel Number:
2603825000
Listed by Top Gun CRE
Data was last updated May 2, 2025 at 07:10 AM (UTC)
Gerri-Lynn Fives
Pacific Sotheby's Intl Realty
Data Source Logo
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego Multiple Listing Service, Inc.

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego Multiple Listing Service, Inc.