455 Glencrest Dr

455 Glencrest Dr

D

Solana Beach, CA 92075

$3,499,999

Beds

3

Baths

2

Sqft

1,800

Year Built

1950

Days on Market

200

Property Type

Single Family

HOA/mo

N/A

MLS ID

250035370SD

Description

$250,000 PRICE DROP! Beautiful Farm style Solana Beach property with south facing ocean views of La Jolla Cove in highly sought-after neighborhood off Lomas Santa Fe with private lane off Glencrest Dr. Home is engulfed on 1/2 an acre of tropical luscious towering trees & foliage creating a private sanctuary backyard. Current home is turn key beautiful 3 bedroom, 2 bath remodeled single-level home w/coastal feel offers an open floor plan w/original cedar vaulted ceilings in family area & gas fireplaces inside &out. Attached garage, large driveway & side yard offer plenty of parking/ will accommodate an RV or ADU potential. Home also comes with APPROVED and payed for permits & plans by City of Solana Beach & Coastal Commission to add on 765 sqft 2nd story master bed/bath+balcony. Additional 172 sqft stairway+laundry room. 45 sq ft Rooftop deck, larger garage w/game room option & 500 sqft lanai veranda for full indoor outdoor modern living. (see 3D renderings of architectural designs). Home has been an AirBnB, VRBO rental w/approximate rental income of 170k (2023) $216k (2024). P&L's available on request should buyer be interested in continuing this rental business. West of 1-5, only minutes to major beautiful beaches, freeways, shopping centers, Coaster/Amtrack, Cedros Design District, Racetrack, & Del Mar fairgrounds. Excellent Public Schools: Solana Vista, Skyline (walking distance), Earl Warren (walking distance) & Torrey Pines High School.

Mortgage Calculator

Est. Monthly Payment

$22,219

Principal & Interest$17,698
Property Tax$3,500
Insurance$1,021
%($700,000)
%

Investment Score

0D
Est. Monthly Rent

HUD Fair Market Rent

$3,852
Monthly Cashflow
$-22,170

Mortgage (P+I)
$17,698
Cap Rate
-1.53%
Cash-on-Cash
-38.00%
DSCR

⚠️ Need ≥ 1.25 for DSCR loan

0.22
Break-even Rent
$25,713

NOI (Annual)
$-53,659
Price-to-Rent

Lower = better for investors

75.7

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

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