2238 Manchester Avenue

2238 Manchester Avenue #2

D

Cardiff-by-the-Sea, CA 92007

$3,600,000

Beds

Baths

Sqft

3,200

Year Built

1973

Days on Market

18

Property Type

Multi-Family

HOA/mo

N/A

MLS ID

NDP2602535

Description

4-plex nestled in the highly desirable Walking District neighborhood of Cardiff-by-the-sea. This beautifully situated 3,200 sq ft building offers an exceptional coastal setting with tranquil ocean breezes and westerly sunset skies. Walkable to Cardiff State Beach, Seaside Market and the coastal rail trail all within minutes. Glen Park is just steps away! Inside the thoughtful and extensively updated interiors that were completed for all 4 units in 2020 in high end finishes. Each unit is a 2bed/1bath and approx 800 sq ft each. Currently the entire upstairs units (3 & 4) is owner occupied. Entire structure was fumigated for drywood termites in Sept 2020 and treated for subterranean termites in Aug 2025. Stairs, elevated walkway & balcony inspection was completed in Aug 2024. EEE-report in good condition and is availble for review.

Mortgage Calculator

Est. Monthly Payment

$22,854

Principal & Interest$18,204
Property Tax$3,600
Insurance$1,050
%($720,000)
%

Comparable Properties

1 comp found

This Property

$6,568

vs

Comp Average

$7,714

Comps based on same zip code, similar beds (±1), price range (60-150%).

Investment Score

0D
Est. Monthly Rent
$6,568
Monthly Cashflow

Rent − PITIA

$-16,286
Full Cashflow

Incl. vacancy, PM, maint, capex

$-20,796

Mortgage (P+I)
$18,204
Cap Rate
-0.86%
Cash-on-Cash
-34.66%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.29
Break-even Rent
$33,576

NOI (Annual)
$-31,112
Price-to-Rent

Lower = better for investors

45.7

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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