694 N Coast Hwy - Apartments FOR SALE


Laguna Beach, CA 92651
$5,700,000 USD
949-302-1400
694 N Coast Hwy, Laguna Beach, CA for Sale
$5,700,000 USD
Apartments - FOR SALE
1/19
null | 4.45% Cap Rate

694 N Coast Hwy
Laguna Beach, CA 92651


HIGHLIGHTS

  • Turnkey Building Including, Fully Renovated Interiors, In-Unit W/D, Newer Roof and Electrical Systems
  • Rarely Available Ocean-Adjacent, Ocean View Property in North Laguna Beach
  • Highly Sought After Unit Mix - All Two-Bedroom, Two-Bath Floorplans
  • Located on Coast Highway overlooking the Pacific Ocean, residents can walk to the beach and enjoy direct whitewater views
  • 4.45% In-Place Cap Rate

OVERVIEW

The Northmarq Multifamily Investments Sales Team is pleased to present Ocean Vista, a rarely available, ocean view oriented, turnkey, six-unit multifamily asset in the world-class rental market of Laguna Beach, California. Situated on the gold coast just south of Newport Beach, Ocean Vista is conveniently located within a short distance to the Montage Resort, Fashion Island, beaches, major entertainment venues, John Wayne Airport, and the top employment centers of Orange County. Complete Interior renovations of the apartment homes include quartz countertops in the kitchen and bathrooms, new cabinets, hardwood flooring, in-unit washer/dryer and stainless-steel appliances. The new owner will have the ability to take over operations of a fully renovated turnkey rental asset and take advantage of additional rental growth by increasing the income to market rent levels. Ocean Vista is the perfect multifamily investment opportunity with projected long-term market stability, positive rental growth projections, tax and long-term appreciation benefits. Located in one of the top coastal submarkets in the world, the supply in Laguna Beach is so limited the investor and renter demand will only grow over time.

FOR SALE DETAILS

PRICE

$5,700,000 USD

PRICE/SF

$954 USD /SF

# OF UNITS

6

PRICE/UNIT

$950,000

CAP RATE

4.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ocean Vista

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,837 SF

ZONING

R-3

APN/PARCEL ID

496-132-12

ASK ABOUT THIS PROPERTY

Peter HauserNorthmarqMore Info
949-302-1400

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Peter HauserNorthmarqMore Info
949-302-1400

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