$100 Million Beach Front Property - Capistrano Shores has new owners

The 90-residents of the Capistrano Shores Mobile Home park are the new owners of the estimated 7/10 (0.7)  mile of beachfront property in North San Clemente where their modular homes currently sit.  The property, owned by Amherst College, had been leased on a monthly basis to each home owner for thouands of dollars each month.  On January 25, Amherst College sold the property to the 90-home owners for a rumored $100 million (or almost $15,000,000 for each 1/10th mile of sand).

The lots run about 1,000 - 1,500 square feet where some 88 of the modular homes are second homes. While just speculation, some might guess each beach front site might be worth $2.4 million each once the North Beach Development and Marblehead on the Coast project is completed. Quite a return on investment by any measure. While some still consider San Clemente to be the last affordable coastal beach community in Orange County, that seems to be changing.

If you are looking to buy in San Clemente, there is no better time than now... before the renovation and new projects are completed.

To view all properties currently listed for sale in San Clemente or in the surrounding coastal communities, you can visit San Clemente Real Estate

• San Clemente Real Estate
• Orange County Real Estate

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