16612 Jib Cir, Huntington Beach, CA 92649

Property Description

16612 Jib Circle in Huntington Beach is a highly desirable fourplex offered at a cap rate that is well-above comparable sales at four percent. This very well-maintained asset is ideally located on a cul-de-sac conveniently near retail, schools, Sunset Beach, Bolsa Chica State Beach, the Bolsa Chica Wetlands, Huntington Harbour, and within easy walking distance of a park. Tenants also enjoy being within a quick 15-minute drive of the Huntington Beach Pier and Main Street, and even closer to Central Park and the 405, 22, and 605 freeways. 16612 Jib Circle is a 1977 construction consisting of two buildings that offer a total of one one-bed/one-bath unit, two two-bed/two-and-one-half-bath townhomes, and one three-bed/two-and-one-half-bath townhome. The townhomes all feature private yards/patios, and all units have central air conditioning, in-unit laundry, and separate gas and electric meters. Each unit also has a private single-car garage, and two additional surface parking spaces are available. Recent upgrades to the property include unit interior upgrades, and the roof was replaced in 2016. This offering presents an excellent opportunity to acquire an asset at an above-average cap rate with 10 percent rental upside in a sought-after coastal market.