This Multifamily Property is Off-Market.

220 Cliff Drive
Laguna Beach, CA 92651 ·

5 Units · Multifamily For Sale

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220 Cliff Drive

Price N/A Cap Rate 3.53%
No. Units 5 No. Stories 2
Building Size 2,769 SF Year Built 1949
Property Type Multifamily Lot Size 4,848 SF
Property Sub-type Garden/Low-Rise APN / Parcel ID 496-094-18
Property Use Type Investment
Listing ID: 17553888 Date Created: 03/01/2012 Last Updated: 01/17/2013

Description

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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.

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

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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