437 Cypress Dr Laguna Beach, CA 92651
North Laguna NeighborhoodHighlights
- Cape Cod Architecture
- Hiking Trails
- Laundry Room
- El Morro Elementary School Rated A+
- Park
- 3-minute walk to Heisler Park
About This Home
Located in highly desirable North Laguna Beach, 437 Cypress Drive is a well-positioned coastal multifamily investment property comprising five rentable units in one of Southern California’s most supply-constrained rental markets. The property is situated on an approximately 5,900 sq ft R3-zoned lot and benefits from a strong rental history and close proximity to beaches, downtown Laguna Beach, dining, shopping, and cultural attractions.
The asset features a diverse and flexible unit mix, including two larger three-bedroom residences suitable for owner-occupancy or premium rentals, along with two studios and a one-bedroom unit that appeal to long-term tenant demand. The property has been well maintained and thoughtfully updated during the current owner’s tenure, including the remodel of the owner’s ocean-view quarters, reflecting pride of ownership and long-term stewardship. Property amenities include private outdoor spaces, garage parking, in-unit and on-site laundry, community storage, and shared outdoor gathering and barbecue areas.
With classic cottage architecture, efficient floor plans, and a convenient North Laguna location near Heisler Park and Main Beach, this five-unit property offers durable leasing demand and long-term value. Long-term ownership, consistent upkeep, and recent improvements enhance the appeal for an owner-user or long-term investor seeking stable income, tax advantages, and ongoing equity growth.
Listing Agent
Berkshire Hathaway HomeServices California Properties Brokerage Phone: 949-439-4040 License #01790889 Listed on: 01/26/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1956
Lot Details
- 5,910 Sq Ft Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Parking
- 2 Car Garage
- 2 Open Parking Spaces
- Parking Available
- Driveway
Home Design
- Cape Cod Architecture
- Cottage
- Apartment
- Entry on the 1st floor
Interior Spaces
- 4,700 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 9 Bedrooms
- 9 Bathrooms
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Legal Lot and Block 16 / 28
- Tax Tract Number 413
- Assessor Parcel Number 49612108
Community Details
Overview
- 2 Buildings
- 5 Units
Amenities
- Laundry Facilities
Recreation
- Park
- Hiking Trails
- Bike Trail
Building Details
- 4 Separate Electric Meters
- 2 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $9,500
- Fuel Expense $1,250
- Insurance Expense $9,000
- Trash Expense $250
- Water Sewer Expense $1,000
- Operating Expense $59,900
- Gross Income $256,500
- Net Operating Income $196,600
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $26,196 | $2,233,248 | $2,048,752 | $184,496 |
| 2024 | $26,196 | $2,189,459 | $2,008,580 | $180,879 |
| 2023 | $26,478 | $2,146,529 | $1,969,196 | $177,333 |
| 2022 | $25,760 | $2,104,441 | $1,930,585 | $173,856 |
| 2021 | $25,053 | $2,063,178 | $1,892,730 | $170,448 |
| 2020 | $24,557 | $2,042,023 | $1,873,322 | $168,701 |
| 2019 | $24,037 | $2,001,984 | $1,836,590 | $165,394 |
| 2018 | $23,509 | $1,962,730 | $1,800,579 | $162,151 |
| 2017 | $22,969 | $1,924,246 | $1,765,274 | $158,972 |
| 2016 | $22,460 | $1,886,516 | $1,730,661 | $155,855 |
| 2015 | $22,043 | $1,858,179 | $1,704,665 | $153,514 |
| 2014 | $21,572 | $1,821,780 | $1,671,273 | $150,507 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/26/2026 01/26/26 | For Sale | $5,695,000 | 0.0% | $1,212 / Sq Ft |
| 09/24/2021 09/24/21 | Rented | $5,950 | 0.0% | -- |
| 09/15/2021 09/15/21 | For Rent | $5,950 | +70.0% | -- |
| 04/28/2017 04/28/17 | Rented | $3,500 | +55.6% | -- |
| 04/27/2017 04/27/17 | For Rent | $2,250 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: LG26012169
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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