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505 Monterey Ln, San Clemente, CA 92672
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505 Monterey Ln San Clemente, CA 92672

$4,175,000 Sold Price as of 11/30/2020
  • 10 Beds
  • 12 Baths
  • 4,961 Sq.Ft.
Sold
$4,175,000 Sold Price as of 11/30/2020 Refinance Your Mortgage
Map preview of 505 Monterey Ln, San Clemente, CA 92672

Property Overview: 505 Monterey Ln San Clemente, CA has 10 bedrooms, 12 bathrooms, 4,961 living square feet and 3,763 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 505 West is quintessential Southern California coastal real estate. This investment opportunity is located in the highly desirable "Pier Bowl" location of San Clemente, just a few steps to beaches (including world-class surfing spots), historical San Clemente pier, restaurants and shops. 505 has been extensively remodeled, with over $1 million dollars invested into the interiors and exterior of the building bringing modern luxury to San Clemente. This opportunity features (2) studios, (2) one-bedroom/one-bathroom units and (4) two-bedroom/two-bathroom units with 75% of all units featuring ocean views. This property features (10) gated community garage spaces, patios, balconies and on-site laundry. 505 West truly a rare and special piece of Southern California coastal real estate. *Incredible Ocean Views, *Prestigious Pier Bowl Location, *Steps to the Beach, Historical San Clemente Pier, Restaurants & Shops, *Over $1 Million in Renovations and Upgrades, *Immaculate Modern Style Interiors, *Prime Candidate for Vacation Rental-Permits Available, *Irreplaceable Real Estate

Listed by Rick Applebaum | BRE #01273871 | Morgan Skenderian
Last checked: 13 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 50

Home details

Lot Sq. Ft
3,763
HOA Dues
$0/mo
Year built
1964
Garage
10 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW20203977
City
San Clemente
County
Orange
Time on Site
1304 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 9
  • # of Gas Meters: 9
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $3,190
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,250
  • Total Rent: $4,400
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,775
  • Total Rent: $5,550
  • Pro Forma/Market Rent: $3,150
Unit Breakdown 4
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,275
  • Total Rent: $6,545
  • Pro Forma/Market Rent: $3,395
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.7%
  • Gross Rent Multiplier: 17.55
  • Gross Scheduled Income: $242,100
  • Net Operating Income: $156,989
  • Gross Operating Income: $234,837
  • Vacancy Allowance: $7,263
  • Laundry Income: $1,560
  • Other Income 1: $4,680
  • Other Income Description: Utility Reimbursement
Annual Expense Breakdown
  • Total Operating Expense: $77,848
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $42,965
  • Trash: $0
  • Insurance: $1,872
  • Maintenance: $11,742
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $9,669
  • Other Expense Description: Utility

Property Details for 505 Monterey Ln

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 10
  • # of Parking Spaces: 10
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 8
  • Parcel Number: 69203311
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North of Avenida Madrid & West of S. Ola Vista
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local San Clemente Agent

Sale History for 505 Monterey Ln

Last sold for $4,175,000 on November 30th, 2020

  • December, 2020

  • Dec 1, 2020

    Date

    Sold

    CRMLS: PW20203977

    $4,175,000

    Price

  • Nov 18, 2020

    Date

    Pending

    CRMLS: PW20203977

    $4,250,000

    Price

  • Sep 29, 2020

    Date

    Active

    CRMLS: PW20203977

    $4,250,000

    Price

  • September, 2020

  • Sep 29, 2020

    Date

    Leased

    CRMLS: PW20176654

    $2,950

    Price

  • Aug 27, 2020

    Date

    Active

    CRMLS: PW20176654

    $2,950

    Price

  • Listing provided courtesy of CRMLS

    Gorgeous remodeled building located in the Pier Bowl, just a few steps to the ocean and pier. Ideal location to restaurants, shops, galleries and beautiful ocean waters. MOVE-IN SPECIAL - Half off 1st Month of Rent if moved in by end of September with approved credit. Sophisticated Features: * Open concept design * Newer kitchen and bath cabinets * Beautiful Quartz counter tops * Stainless steel stove, microwave, refrigerator and dishwasher * Modern shower/ bathroom design * Porcelain wood tile flooring * Mirror wardrobe doors * Custom paint colors *Must see!* * Wall Mounted Smart TV's included (Basic Direct TV included) * Building BBQ * Assigned parking included * Dutch front doors to allow cool ocean breeze into your unit * Gated Community * Washer & Dryer in unit * Internet available at $69 per month Don’t miss out on this beautifully upgraded contemporary design home in San Clemente!

  • July, 2020

  • Jul 1, 2020

    Date

    Expired

    CRMLS: PW20017330

    $4,425,000

    Price

  • Mar 18, 2020

    Date

    Withdrawn

    CRMLS: PW20017330

    $4,425,000

    Price

  • Jan 24, 2020

    Date

    Active

    CRMLS: PW20017330

    $4,425,000

    Price

  • Listing provided courtesy of CRMLS

    505 West is quintessential Southern California coastal real estate. This investment opportunity is located in the highly desirable "Pier Bowl" location of San Clemente, just a few steps to beaches (including world class surfing spots), historical San Clemente pier, restaurants and shops. 505 has been extensively remodeled, with over $1 million dollars invested into the interiors and exterior of the building bringing modern luxury to San Clemente. This opportunity features (2) studios, (2) one bedroom/one bathroom units and (4) two bedroom/two bathroom units with 75% of all units featuring ocean views. This property features (10) gated community garage spaces, patios, balconies and on-site laundry. 505 West truly a rare and special piece of Southern California coastal real estate. *Incredible Ocean Views, *Prestigious Pier Bowl Location, *Steps to the Beach, Historical San Clemente Pier, Restaurants & Shops, *Over $1 Million in Renovations and Upgrades, *Immaculate Modern Style Interiors, *Prime Candidate for Vacation rental-Permits Available, *Irreplaceable Real Estate

  • November, 2019

  • Nov 1, 2019

    Date

    Expired

    CRMLS: PW19112636

    $4,695,000

    Price

  • Sep 19, 2019

    Date

    Withdrawn

    CRMLS: PW19112636

    $4,695,000

    Price

  • Jun 11, 2019

    Date

    Price Change

    CRMLS: PW19112636

    $4,695,000

    Price

  • May 30, 2019

    Date

    Price Change

    CRMLS: PW19112636

    $4,745,000

    Price

  • May 15, 2019

    Date

    Active

    CRMLS: PW19112636

    $4,795,000

    Price

  • Listing provided courtesy of CRMLS

    HIGHLY MOTIVATED SELLERS!! SUBMIT ALL OFFERS!! 505 West is quintessential Southern California coastal real estate. This investment opportunity is located in the highly desirable "Pier Bowl" location of San Clemente, just a few steps to beaches (including world-class surfing spots), historical San Clemente pier, restaurants and shops. 505 has been extensively remodeled, with over $1 million dollars invested into the interiors and exterior of the building bringing modern luxury to San Clemente. This opportunity features (2) studios, (2) one bedroom/one bathroom units and (4) two bedroom/two bathroom units with 75% of all units featuring ocean views. This property features (10) gated community garage spaces, patios, balconies and on-site laundry. 505 West truly a rare and special piece of Southern California coastal real estate. *Incredible Ocean Views, *Prestigious Pier Bowl Location, *Steps to the Beach, Historical San Clemente Pier, Restaurants & Shops, *Over $1 Million in Renovations and Upgrades, *Immaculate Modern Style Interiors, *Prime Candidate for Vacation Rental- Permits Available, *Irreplaceable Real Estate

  • August, 2019

  • Aug 2, 2019

    Date

    Expired

    CRMLS: PW18186237

    $5,275,000

    Price

  • Jan 15, 2019

    Date

    Withdrawn

    CRMLS: PW18186237

    $5,275,000

    Price

  • Sep 11, 2018

    Date

    Price Change

    CRMLS: PW18186237

    $5,275,000

    Price

  • Aug 2, 2018

    Date

    Active

    CRMLS: PW18186237

    $5,425,000

    Price

  • Listing provided courtesy of CRMLS

    MAJOR PRICE REDUCTION! HIGHLY MOTIVATED SELLERS!! 505 West is quintessential Southern California coastal real estate. This investment opportunity is located in the highly desirable "Pier Bowl" location of San Clemente, just a few steps to beaches (including world class surfing spots), historical San Clemente pier, restaurants and shops. 505 West has been extensively remodeled, with over $1 million dollars invested into the interiors and exterior of the building bringing modern luxury to San Clemente. This opportunity features (2) studios, (2) one bedroom/one bathroom units and (4) two bedroom/two bathroom units with 75% of all units featuring ocean views. This property features (10) gated community garage spaces, patios, balconies and on-site laundry. 505 West truly is a rare and special piece of Southern California coastal real estate. *Incredible Ocean Views, *Prestigious Pier Bowl Location, *Steps to the beach, Historical San Clemente Pier, Restaurants & Shops, *Over $1 Million in Renovations and Upgrades, *Immaculate Modern Style Interiors, *Prime Candidate for Vacation Rental- Permits Available, *Irreplaceable Real Estate,

  • June, 2019

  • Jun 4, 2019

    Date

    Leased

    CRMLS: PW19084816

    $2,950

    Price

  • Apr 15, 2019

    Date

    Active

    CRMLS: PW19084816

    $2,950

    Price

  • Listing provided courtesy of CRMLS

    Gorgeous remodeled building located in the Pier Bowl, just a few steps to the ocean and pier. Ideal location to restaurants, shops, galleries and beautiful white water ocean. Penthouse unit with large balcony encompassing the entire unit. Sophisticated Features: * Open concept design * Newer kitchen and bath cabinets * Beautiful Quartz counter tops * Stainless steel stove, microwave, refrigerator and dishwasher * Modern shower/ bathroom design * Porcelain wood tile flooring * Mirror wardrobe doors * Custom paint colors *Must see!* * Wall Mounted Smart TV's included (Basic Direct TV included) * Building BBQ * Assigned parking included * Dutch front doors to allow cool ocean breeze into your unit * Gated Community * Washer & Dryer in unit * Internet available at $69 per month Don’t miss out on this beautifully upgraded contemporary design home in San Clemente!

  • February, 2019

  • Feb 21, 2019

    Date

    Leased

    CRMLS: PW18251657

    $3,295

    Price

  • Jan 8, 2019

    Date

    Price Change

    CRMLS: PW18251657

    $3,295

    Price

  • Oct 16, 2018

    Date

    Active

    CRMLS: PW18251657

    $3,395

    Price

  • Listing provided courtesy of CRMLS

    HALF OFF 1st Month's rent OAC with a 13 month lease. White water views of ocean & sunset views from fully upgraded 2 br / 2 ba penthouse Gorgeous remodeled building located in the Pier Bowl, just a few steps to the ocean and pier. Ideal location to restaurants, shops, galleries and beautiful white water ocean. Penthouse unit with large balcony encompassing the entire unit. Sophisticated Features: * Open concept design * New kitchen and bath cabinets * Beautiful Quartz counter tops * Stainless steel stove, microwave, refrigerator and dishwasher * Modern shower/ bathroom design * Porcelain wood tile flooring * Mirror wardrobe doors * Custom paint colors *Must see!* * Wall Mounted Smart TV's included (Basic Direct TV included) * White water ocean views from deck * Building BBQ * Assigned parking included * Dutch front doors to allow cool ocean breeze into your unit * Gated Community * Washer & Dryer in unit * Internet available at $69 per month Don’t miss out on this beautifully upgraded contemporary design home in San Clemente!

  • June, 2018

  • Jun 22, 2018

    Date

    Leased

    CRMLS: PW18036248

    $2,250

    Price

  • Jun 8, 2018

    Date

    Pending

    CRMLS: PW18036248

    $2,250

    Price

  • Mar 30, 2018

    Date

    Price Change

    CRMLS: PW18036248

    $2,250

    Price

  • Feb 15, 2018

    Date

    Active

    CRMLS: PW18036248

    $2,295

    Price

  • Listing provided courtesy of CRMLS

    Gorgeous remodeled building located in the Pier Bowl, just a few steps to the ocean and pier. Ideal location to restaurant, shops, galleries and beautiful white water ocean. Sophisticated Features: * Open Concept Design * New kitchen and bath cabinets * Beautiful Quartz counter tops * Modern shower/ bathroom design * Porcelain wood tile flooring * Mirror wardrobe doors * Custom paint colors *Must see!* * Owner pays electricity * Laundry facility onsite * Building BBQ * Assigned parking included * Stainless steel stove, microwave, refrigerator and dishwasher * Wall Mounted Smart TV’s included (Basic Direct TV included) Other units available also please inquire

  • May, 2018

  • May 8, 2018

    Date

    Leased

    CRMLS: PW18036354

    $2,600

    Price

  • Apr 20, 2018

    Date

    Pending

    CRMLS: PW18036354

    $2,600

    Price

  • Feb 15, 2018

    Date

    Active

    CRMLS: PW18036354

    $2,600

    Price

  • Listing provided courtesy of CRMLS

    Ocean views from your front door Gorgeous remodeled building located in the Pier Bowl, just a few steps to the ocean and pier. Ideal location to restaurants, shops, galleries and beautiful white water ocean. Sophisticated Features: * Open concept design * New kitchen and bath cabinets * Beautiful Quartz counter tops * Stainless steel stove, microwave, refrigerator and dishwasher * Modern shower/ bathroom design * Porcelain wood tile flooring * Mirror wardrobe doors * Custom paint colors *Must see!* * Wall Mounted Smart TV's included (Basic Direct TV included) * White water ocean views from front door * Building BBQ * Assigned parking included * Dutch front doors to allow cool ocean breeze into your unit * Gated Community * Washer & Dryer in unit Don’t miss out on this beautifully upgraded contemporary design home in San Clemente!

  • January, 2018

  • Jan 18, 2018

    Date

    Leased

    CRMLS: PW17201866

    $3,395

    Price

  • Jan 9, 2018

    Date

    Price Change

    CRMLS: PW17201866

    $3,395

    Price

  • Aug 31, 2017

    Date

    Active

    CRMLS: PW17201866

    $3,495

    Price

  • Listing provided courtesy of CRMLS

    MOVE-IN SPECIAL - Half off 1st Month's rent on approved credit with a 1 year lease. White water views of ocean & sunset views from fully upgraded 2 br / 2 ba Gorgeous remodeled building located in the Pier Bowl, just a few steps to the ocean and pier. Ideal location to restaurants, shops, galleries and beautiful white water ocean. Penthouse unit with large balcony encompassing the entire unit. Sophisticated Features: * Open concept design * New kitchen and bath cabinets * Beautiful Quartz counter tops * Stainless steel stove, microwave, refrigerator and dishwasher * Modern shower/ bathroom design * Porcelain wood tile flooring * Mirror wardrobe doors * Custom paint colors *Must see!* * Wall Mounted Smart TV's included (Basic Direct TV included) * White water ocean views from deck * Building BBQ * Assigned parking included * Dutch front doors to allow cool ocean breeze into your unit * Gated Community * Washer & Dryer in unit * Internet available at $69 per month Don’t miss out on this beautifully upgraded contemporary design home in San Clemente!

  • March, 2015

  • Mar 10, 2015

    Date

    Sold (Public Records)

    Public Records

    $2,280,000

    Price

Show More

Tax History for 505 Monterey Ln

Assessed Value (2020): $2,427,458
Year Land Value Improved Value Assessed Value
2020 $1,966,241 $461,217 $2,427,458

Home Value Compared to the Market

This property vs the competition

505 Monterey Ln sold on November 30, 2020 for 146.38% higher than the current median sold price for the city of San Clemente which is $1,725,000. The median sold price per/sqft for San Clemente is $784 and this home is sold at $856.68 per/sqft which puts the price per square foot 9.27% higher than the current median sale per square foot for the city of San Clemente.

About 505 Monterey Ln

Detailed summary of property

505 Monterey Ln is a multi family that recently sold in San Clemente, CA 92672. This multi family property offered 10 bedrooms, 12 bathrooms, roughly 4,961 living square feet, and sits on an approximately 3,763 square foot lot. 505 Monterey Ln was first listed on ArdentRealEstateGroup.com on September 29, 2020. The homeowner sold the property for $4,175,000. Home in San Clemente are selling for a median price of $1,725,000 and a median price per square foot of $784. Based on Ardent Real Estate Group's San Clemente Market Data, this home is sold 146.38% higher than the current median priced home. Local homes that are currently for sale include 1321 W Bay Ave, 1321 W Bay Ave and 507 29th St. While the average home in San Clemente, CA is selling in 53 days, 505 Monterey Ln has a days on market of 50 days. There are currently 172 homes for sale in the San Clemente real estate market and 142 of them are single family homes while 26 of them are condos and 4 are townhomes. For more information on this home for sale at 505 Monterey Ln San Clemente, CA 92672 contact Ardent Real Estate Group and we will put you in touch with one of our San Clemente agents.

Public Facts for 505 Monterey Ln

Public county record property details
Beds
--
Baths
--
Year built
1964
Sq. Ft.
4,914
Lot Size
3,763
Stories
2
Type
Apartments (Generic)
Pool
No
Spa
No
County
Orange
Lot#
3
APN
692-033-11

The source for these homes facts are from public records.

92672 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,999,000
Median List Price/Sq.Ft.
$994
Median Sold Price
$1,850,000
Median Sold Price/Sq.Ft.
$871
Total Inventory
102
Median Sale to List Price %
97.42%
Avg Days on Market
28
Loan Type
Conventional (39.29%), FHA (0%), VA (0%), Cash (32.14%), Other (28.57%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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