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    31674 Coast

    Laguna Beach, CA 92651
    • $2,950,000
    • STATUS: Active Under Contract
    • ON SITE: 129 days
    • ID#: PW21061396
    Under Contract
    $2,950,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,870
      SQFT
    • $762
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1935
    County:

    School Ratings & Info

    Description

    This is a well maintained mixed-use investment property located on the iconic Pacific Coast Highway in South Laguna Village. Rare mixed-use apartment/retail property containing (6) total units. The mix of units consist of (1) Studio, (2) 1BR/1BA,(1) 2BR/1BA and (2) retail stores. Quality tenants in place as both the nail salon and the tailoring & Design business have more than 15 years in this location; and the apartments tenants truly love this as their home. This property now utilizes a resident-utility-billback-system as the landlord has no utility costs. Adjacent to the property are coveted Table Rock & 1,000 Steps Beaches, known for dramatic rock formations and stunning views; Vacationers and local beach goers are driven to this area throughout the year. With stabilized rents and updated interiors, a new owner can rely on reliable income and phenomenal historical appreciation.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-01T00:28:22.747. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
    www.twissrealty.com/homes/115421611
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    31674 Coast Laguna Beach, CA 92651

    • Price: $2,950,000
    • Status: Active Under Contract
    • ID#: PW21061396
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    3,870
    SQFT
    $762
    $/SQFT
    1935
    Built
    Neighborhood:
    SL - South Laguna
    County:
    Orange
    Area:
    SL - South Laguna
    Property Description
    This is a well maintained mixed-use investment property located on the iconic Pacific Coast Highway in South Laguna Village. Rare mixed-use apartment/retail property containing (6) total units. The mix of units consist of (1) Studio, (2) 1BR/1BA,(1) 2BR/1BA and (2) retail stores. Quality tenants in place as both the nail salon and the tailoring & Design business have more than 15 years in this location; and the apartments tenants truly love this as their home. This property now utilizes a resident-utility-billback-system as the landlord has no utility costs. Adjacent to the property are coveted Table Rock & 1,000 Steps Beaches, known for dramatic rock formations and stunning views; Vacationers and local beach goers are driven to this area throughout the year. With stabilized rents and updated interiors, a new owner can rely on reliable income and phenomenal historical appreciation.
    Exterior Features

    Lot Features 2-5 Units/Acre Number Of Separate Electric Meters 3 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No View CoastlineOcean View YN Yes

    Interior Features

    Common Walls No Common Walls

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cable Tv Expense 0 Cap Rate 4 Common Interest None Community Features CurbsHikingStorm Drain(S)SidewalksWater Sports Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 169080 Gross Scheduled Income 169080 Insurance Expense 2372 Laundry Features InsideSee Remarks Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 116676 New Construction YN No New Taxes Expense 33862 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 47331 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 14090 Trash Expense 0 Vacancy Allowance 5072 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning C2

    Listing provided courtesy of Michael Sacks of Coldwell Banker Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-01T00:28:22.747. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
     
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