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245 Cypress Dr
Laguna Beach, CA 92651
Multifamily Property For Sale
·
6 Units
Property Facts
| No. Units | 6 | Building Size | 3,903 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1954/2018 |
| Building Class | B | Parking Ratio | 1.28/1,000 SF |
| Lot Size | 0.14 AC | ||
| Zoning | R-3, Laguna Beach - Multi-family dwelling | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 3,903 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2018 |
| Parking Ratio | 1.28/1,000 SF |
| Zoning | R-3, Laguna Beach - Multi-family dwelling |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Laundry Facilities
About 245 CYPRESS DR , LAGUNA BEACH, CA 92651
The Cypress Drive Apartments is a six-unit apartment building located in the highly coveted submarket of North Laguna Beach within the Greater Orange County area. The property offers an attractive unit mix consisting of (1) two bedroom/ one bathroom unit, (3) one bedroom/ one bathroom units, and (2) studio units totaling 3,903 square feet, situated on a 6,098 square foot lot. The property has gone through an extensive remodel of the interiors and exterior. Some interior upgrades include but are not limited to: new kitchens, stainless steel appliances, backsplashes, quartz countertops, new bathrooms, new flooring, washer/dryers, and newly installed A/C systems for all units. Common area amenities include: landscaped courtyard, enclosed garages, and on-site laundry room. Laguna Beach is a seaside resort city on the protected coastline in Southern California and is home to a plethora of cultural, recreational, and culinary attractions. From the world-famous Main Beach to the annual Festival of Arts to the Pageant of the Masters’ Art Exhibition, residents enjoy easy access to numerous community events, restaurants, shops, art galleries, parks, and hiking trails. AREA HIGHLIGHTS HIGHLY AFFLUENT TRADE AREA Laguna Beach is one of the most affluent communities in Southern California with a Median Household Income exceeding $117,000 and a Median Property Value of $1,570,000. WIDELY RECOGNIZED EDUCATION SYSTEM Laguna Beach is a district with a clear, unwavering focus on student learning. Students within the district experience the best teaching and learning strategies; thus, causing student achievement to increase year after year. EXTREMELY HIGH BARRIER TO ENTRY Laguna Beach’s astringent approval process, along with high construction costs and virtually no sites available for future development, creates an extremely high barrier to entry; thus, securing the property’s long-term growth and success. STRONG AND STABILIZED TENANT BASE This property offers a very strong, stabilized tenant base with an opportunity to add additional value in current rents.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $1,843 | - |
| 1+1 | 3 | $2,300 | - |
| 2+1 | 1 | $2,800 | - |
Property Taxes
| Parcel Number | 496-094-08 | Improvements Assessment | $530,604 |
| Land Assessment | $3,157,093 | Total Assessment | $3,687,697 |
Property Taxes
