Development Opportunity - Huntington Beach
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.
Current Income
| - | - |
| Monthly Total | N/A |
Cash Flow Analysis
| Gross Scheduled Income | N/A |
| Operating Expenses | N/A |
| Net Operating Income | N/A |
Acquisition Data
| Down Payment | $236,250 (25%) |
| Loan Amount | $708,750 (75%) |
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 198,711 people and 45 constituent neighborhoods, Huntington Beach is the 23rd largest community in California.
Huntington Beach is a decidedly white-collar city, with fully 86.09% 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 (13.77%), sales jobs (12.26%), and office and administrative support (11.33%).
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 10.66% 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.
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.
Huntington Beach is one of the most well-educated cities in the nation. 43.64% of adults in Huntington Beach have at least a bachelor's degree. Compare that to the average community in America, which has just 21.84% with a bachelor's degree or higher.
The latest recorded per capita income in Huntington Beach was $50,625, which is wealthy relative to California and the nation. This equates to an annual income of $202,500 for a family of four. However, Huntington Beach contains both very wealthy and poor people as well.
OC Apartment Brokers