Two new listings in La Jolla in two days!
The fourplex is 313-319 Nautilus, which is just seven doors up from the world-famous Windansea Beach. They are similar 1-bedroom units, built in 1951 and recently renovated. The rents range from $2,000 to $2,195 per month on annual leases.
It’s not even a 3 cap, so investors would have to appreciate the land value and proximity to the beach to make it worth it for them. But there has been so much development nearby, we think the eventual buyer will tear it down and build new.
List price is $2,350,000, which is the appraised value.
Here is the property manager’s interior tour:
Beautiful remodeled one bedroom cottage steps to beach in best area of Windansea. Designer upgrades include tiled bath and kitchen- new fixtures, cabinets, counters and new stove, fridge, microwave and dishwasher plus all new flooring. This immaculate cottage is bright and sunny and comes with a Garage included. The unit has high open beam ceilings.