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531-539 Catalina
Laguna Beach, CA 92651
Multifamily Property For Sale
·
9 Units
INVESTMENT HIGHLIGHTS
- Long-term pride of ownership, with the same attentive ownership for approximately 30+ years, reflected in the property’s strong maintenance.
- Highly desirable outdoor living features, with units offering access to decks, patios, and common entertaining areas.
- Functional unit features, including refrigerators, garbage disposals in all units, gas stoves/ovens in all non sleeping-room units, and 2 dishwashers.
- Well-maintained asset featuring extensive brick hardscape and concrete improvements, including driveways, walkways, parking pads.
- Charming front 2BD/1BA residence featuring a private side patio, vaulted wood-beamed ceilings, and pitched composition roofing. 8 Parking Spots.
- Legal 8-unit property per Laguna Beach Real Property Report, 4 units are designated as 'sleeping room' units, No owner provide cooking / gas stove.
EXECUTIVE SUMMARY
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)
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)
PROPERTY FACTS
| Price Per Unit | $398,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 4% | Building Size | 3,550 SF |
| Gross Rent Multiplier | 16.05 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 2.25/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R3 | ||
| Price Per Unit | $398,889 |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 16.05 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,550 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | R3 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Ceiling Fans
- Oven
- Carpet
- Deck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $1,893 | 325 |
| 1+1 | 5 | $1,795 | 370 |
| 2+1 | 2 | $2,910 | 525 |
PROPERTY TAXES
| Parcel Number | 644-011-07 | Improvements Assessment | $164,405 |
| Land Assessment | $984,266 | Total Assessment | $1,148,671 |
PROPERTY TAXES
Parcel Number
644-011-07
Land Assessment
$984,266
Improvements Assessment
$164,405
Total Assessment
$1,148,671
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