Historical Multifamily Sale Listing - 220 Cliff Drive

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220 Cliff Drive

220 Cliff Drive, Laguna Beach, CA 92651

N/A

5 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
5
Building Size:
2,769 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
3.53%
No. Stories:
2
Year Built:
1949
Lot Size:
4,848 SF
APN / Parcel ID:
496-094-18
Listing ID
17553888
Last Updated
over 1 year ago

Highlights

  • Quintessential Laguna Beach Income Property
  • White Water Views from Units
  • Remodeled and Upgraded Interiors
  • New Roof
  • New Exterior Paint
  • Legal Non-Conforming 5 Units

Description

PLEASE CLICK ON PROPERTY WEBSITE LINK FOR MORE INFORMATION.

220 Cliff Drive is a quintessential Laguna Beach income property. It has been upgraded by the current ownership and is in turnkey condition. There are a myriad of options to a new owner where they could use one unit as an "owner's unit" for extended vacations and/or weekend or special event visits.

The unit mix is excellent and rents have some upside due to recent general firming of rental rates across Orange County especially the coastal submarkets.

This property represents a unique opportunity as most Laguna Beach multifamily assets which hit the market are not in this condition.

220 Cliff Drive is located in Laguna Beach, the premier seaside destination on the beautiful California Riviera in South Orange County, positioned mid-way between Los Angeles and San Diego.

The city of Laguna Beach is well known as a unique beach community and artists' colony with seven miles of city beaches running along its nine square miles. The resident population enjoys the ambiance provided by the sandy beaches, canyons, and coastal hills. During the summer, several million visitors are drawn to the resort environment for its picturesque beaches, art festivals, and the Pageant of the Masters. Laguna's village-scale shopping district, blufftop walkways, and tram system create a pedestrian environment and scale that is unique in Southern California.

Map of 220 Cliff Drive, Laguna Beach, CA 92651 (Orange County)

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Created 3/1/2012