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Property Type:Single Family Residence
On Site:129 Days
Lot Size:9,000 Sq. Ft.
Your own private compound located just 2 blocks from the beach in prestigious North Laguna! Four cottages plus a carriage house (5 units total), and a 4-car garage, on 2 legal lots totaling 9,000 square feet. The 4 stand-alone bungalows are independent, each with about 470 square feet including one bedroom, a full bath, vaulted beamed ceilings, wood floors, fireplace and a full kitchen. In addition, there is a 2-bedroom carriage house above the garage featuring ocean views and a large deck. Altogether this property comprises 6 bedrooms, 5 bathrooms, 5 full kitchens, 5 living rooms, 4 fireplaces, the 4-car garage, a laundry room and a workshop. There is additional parking in the driveway and off the alley in the back. The lot is street-to-alley, and would support either one or two single family homes, or up to 5 multi-family units as it is currently configured. Live in one unit and collect income from the others, or connect them, or use them as detached studios, offices or guest rooms. Garage access could be easily moved to the alley, enabling the open space of the lot to be fully utilized: there is plenty of room for a spa, fire pit, bocce court... The possibilities are endless! All this just moments from Crescent Bay and Shaws Cove, plus all the shops and restaurants of North Laguna! The property currently generates over $11,500 in monthly income, all tenants have been long term and are currently on month-to-month leases.
$000 Monthly Payment
Loan and interest only. Taxes and insurance not included.
Address:231 Cajon Street Laguna Beach, CA 92651
Area:(NL) North Laguna
Subdivision:North Laguna (Nl)
Construction: Wood Siding
Total Units: 5
Stories Total: 2
Unit 1: 1 Unit•2 Beds•1 Bath•1 Garage•Unfurnished•$2,395 actual rent•$2,395 total rent•$4,250 pro forma
Unit 2: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$2,195 actual rent•$2,195 total rent•$3,000 pro forma
Unit 3: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$2,995 actual rent•$2,995 total rent•$3,950 pro forma
Unit 4: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$2,195 actual rent•$2,195 total rent•$3,000 pro forma
Unit 5: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$1,970 actual rent•$1,970 total rent•$3,000 pro forma
Parking: Garage, RV Access/Parking
Garage Spaces: 4
Features / Amenities
Floor Material: Wood
Interior: Beamed Ceilings, High Ceilings
Rooms: See Remarks, Utility Room, Workshop
Laundry: Individual Room, Outside
Common Walls: No Common Walls
Parking Total: 4
Fireplace(s): Wood Burning, See Remarks
Lot Size: 0.21 Acres / 9,000 Sq. Ft.
Lot Features: Back Yard, Front Yard, Lot 6500-9999, Rectangular Lot, Near Public Transit, Park Nearby, Yard
View: City Lights, Hills, Ocean
Lot Number: 9
Sewer: Public Sewer
Directions:PCH to Cajon, 1/2 block to the north.
Tax and Financial Info
Land Lease: No
Gardener Expense: 1320.00
Insurance Expense: 1341.00
Maintenance Expense: 4320.00
Water / Sewer Expense: 892.00
Total Expenses: 12555.00
Gross Annual Income: 141000.00
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Listing provided courtesy of Mark Miller, RE/MAX One.
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.