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Christian Walsh(949) 635-4466
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Property Type:Residential Income (Multi-Family)
On Site:86 Days
Lot Size:9,148 Sq. Ft.
Significant rental upside and current value add by converting property to original city permitted 11 apartments and 3 commercial spaces. The property is zoned Commercial and the City may entertain a permit allowing for weekly short-term rentals. If this is accomplished this may increase the property's income and value substantially. The Gallery is an ideal opportunity for a investor to take advantage of purchasing a rarely-available commercial mixed-use property in the world class resort town of Laguna Beach, California. $300,000 Cap X spent the past 5 years: 80% new roofs, vertical plumbing lines, electrical, waste-lines, wood replacement and interior apartment upgrades. Partial interior renovations of the apartment homes include quartz counters in the kitchen and bathrooms, hardwood flooring and stainless appliance packages. The new owner will have the ability to to take over operations and take advantage of additional rental growth by increasing the income to market levels.
$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.
Address:336 N Coast Highway Laguna Beach, CA 92651
Area:(NL) North Laguna
Total Units: 10
Stories Total: 2
Unit 1: 1 Unit•1 Bath•Unfurnished•$1,095 actual rent•$1,095 total rent•$2,200 pro forma
Unit 2: 1 Unit•1 Bath•Unfurnished•$7,150 actual rent•$7,150 total rent•$8,500 pro forma
Unit 6: 1 Unit•1 Bath•Unfurnished•$1,650 actual rent•$1,650 total rent•$2,250 pro forma
Unit 7: 1 Unit•1 Bed•1 Bath•Unfurnished•$1,650 actual rent•$1,650 total rent•$2,700 pro forma
Unit 8: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,350 actual rent•$2,350 total rent•$2,900 pro forma
Unit 9: 1 Unit•1 Bed•1 Bath•Unfurnished•$2,500 actual rent•$2,500 total rent•$2,900 pro forma
Unit 10: 1 Unit•2 Beds•2 Baths•Unfurnished•$1,850 actual rent•$1,850 total rent•$3,500 pro forma
Unit 11: 1 Unit•3 Beds•2 Baths•Unfurnished•$4,000 actual rent•$4,000 total rent•$5,500 pro forma
Unit 12: 1 Unit•1 Bath•Unfurnished•$6,820 actual rent•$6,820 total rent•$8,500 pro forma
Unit 13: 1 Unit•1 Bath•Unfurnished•$7,555 actual rent•$7,555 total rent•$8,500 pro forma
Garage Spaces: 4
Features / Amenities
Floor Material: Vinyl
Security Features: Gated Community
Parking Total: 4
Heating Type: Wall Furnace, Forced Air
Lot Size: 0.21 Acres / 9,148 Sq. Ft.
Waterfront Features: Ocean Front
View: Coastline, Courtyard, City Lights, Ocean
Directions:The Gallery is located just steps to the sand in North Laguna Beach, the premier coastal destination in beautiful Southern California. Laguna Beach's resident population enjoys the atmosphere provided by the sandy beaches, canyons, and seaside hills. Several million visitors are drawn to Laguna Beach for its world-class beaches, and fine dining.
Tax and Financial Info
Total Expenses: 132944.00
Gross Annual Income: 439440.00
Gross Operating Income: 462257.00
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Listing provided courtesy of Peter Hauser, Avison Young Â€“ Southern Ca Ltd.
Based on information from California Regional Multiple Listing Service, Inc. as of April 21, 2021. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. IDX provided by Sierra Interactive.