531-539 Catalina - Apartments FOR SALE


Laguna Beach, CA 92651
$3,590,000 USD
949-681-8388
531-539 Catalina, Laguna Beach, CA for Sale
$3,590,000 USD
Apartments - FOR SALE
1/9
null | 4% Cap Rate

531-539 Catalina
Laguna Beach, CA 92651


HIGHLIGHTS

  • Long-term pride of ownership, with the same attentive ownership for approximately 30+ years, reflected in the property’s strong maintenance.
  • Well-maintained asset featuring extensive brick hardscape and concrete improvements, including driveways, walkways, parking pads.
  • Highly desirable outdoor living features, with units offering access to decks, patios, and common entertaining areas.
  • Charming front 2BD/1BA residence featuring a private side patio, vaulted wood-beamed ceilings, and pitched composition roofing. 8 Parking Spots.
  • Functional unit features, including refrigerators, garbage disposals in all units, gas stoves/ovens in all non sleeping-room units, and 2 dishwashers.
  • Legal 8-unit property per Laguna Beach Real Property Report, 4 units are designated as 'sleeping room' units, No owner provide cooking / gas stove.

OVERVIEW

The Laguna House apartments are an incredible 8+1 non-conforming unit complex offering an opportunity to own in a highly desired ‘A’ location in Laguna Beach. These units offer tenants a quality lifestyle located in the center of town and walking distance to the famous Main Beach, Laguna Beach. The Laguna House is located within a short walking distance to the venues, boutiques, restaurants, and all of Downtown Village, Laguna Beach. The property has had the same attentive ownership for the past 30+ years and presents a rare opportunity to acquire a property of this size and location in Laguna Beach. The Laguna House has been well maintained and features extensive brick hardscape and concrete driveways, walkways, parking pads, and private resident gathering areas. Units have access to decks, patios, and common areas for entertaining. There is a private deck off one upstairs unit affording spectacular coastal and white-water views. Other units have ocean views too. The charming and quaint front 2bd/1ba residence has a private side patio and vaulted wood-beamed ceilings. The front residence also has pitched composition roof, with the rest of the structure having flat roofs. All units have refrigerators and garbage disposals, and all non sleeping-room units have gas stoves/ovens. There are dishwashers in two units. The roof is approximately 8 years old, and there is a total of eight off street parking spaces, four of which are covered. The Laguna House apartments are a legal (9) unit complex pursuant to the Laguna Beach Real Property Report. There are (2) two-bed one-bath, (5) one-bed one-bath, (1) studio one-bath, and (1) non-conforming studio one-bath. Of the eight legal units, four are called ‘Sleeping Room’ units. The ‘Sleeping Room’ units do not have landlord provided cooking facilities. Residents can enjoy the walkability of a true beachside community, as the Laguna House is immediately adjacent to the Village and a five-minute walk to Main Beach. Agent: Mark.Bridge@Matthews.com Agent Direct: 949-681-8388 Broker of Record, David Harrington, License # 02168060 (CA)

FOR SALE DETAILS

PRICE

$3,590,000 USD

PRICE/SF

$957 USD /SF

# OF UNITS

9

PRICE/UNIT

$398,889

CAP RATE

4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Laguna House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

R3

APN/PARCEL ID

644-011-07

ASK ABOUT THIS PROPERTY

Mark BridgeThe Bridge Multifamily Team at MatthewsMore Info
949-681-8388

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Mark BridgeThe Bridge Multifamily Team at MatthewsMore Info
949-681-8388

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.