NOT LISTED FOR SALE
2 Beds
6 Baths
3,266 Sq Ft
5,900 Sq Ft Lot

Last Sold August 09, 2017

Last sale price $2,400,000 $735 Per Sq Ft

253 Days on Market

Highlights

  • Water Views
  • Wood Flooring
  • No HOA
  • El Morro Elementary School Rated A+
  • Main Floor Bedroom
  • 3-minute walk to Heisler Park

About This Home

As of August 2017

This 6 unit complex is located in the heart of very desirable North Laguna a short distance to Heisler Park, Cove beaches, shopping and downtown Laguna Beach with its many restaurants, cafes and art galleries. The property consists of a charming two story cottage on Cypress Street with a spacious deck, living room, bonus room, three garages and three off-street parking spaces in driveway. A secondary rear building on Cedar Way consisting of 5 studio units each with full kitchens, baths and each with an assigned over-sized carport parking space and storage. The three top units have vaulted ceilings with skylights and ocean view decks. There is an inviting courtyard common-area between buildings with garden, patio and hardscape. The property is on a street to alley lot with mature landscaping in a wonderful location. *Front building is rented for 3 months. Garage space currently being rented separately; please see unit info.

Last Agent to Sell the Property

Rosanne Kline

Surterre Properties License #01318278 Listed on: 05/29/2016

Co-Listed By

Trevelyan Howard

Surterre Properties License #01181319

Last Buyer's Agent

Rosanne Kline

Surterre Properties License #01318278 Listed on: 05/29/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1974

Lot Details

  • 5,900 Sq Ft Lot
  • Property fronts an alley
  • 1 Common Wall
  • Privacy Fence
  • Density is 6-10 Units/Acre

Parking

  • 3 Car Garage
  • 3 Open Parking Spaces
  • 5 Attached Carport Spaces
  • Parking Storage or Cabinetry
  • Parking Available
  • Front Facing Garage
  • Three Garage Doors
  • Driveway
  • Assigned Parking

Home Design

  • Property Attached
  • Composition Roof

Interior Spaces

  • 3,266 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Beamed Ceilings
  • Living Room with Fireplace
  • Water Views
  • Laundry Room

Kitchen

  • Gas Oven
  • Dishwasher

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 2 Bedrooms
  • Main Floor Bedroom
  • 6 Bathrooms

Additional Features

  • Outdoor Grill
  • Forced Air Heating System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, HVAC maintenance
  • Tax Lot 15
  • Tax Tract Number 413
  • Assessor Parcel Number 49612107

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,665
  • Gardener Expense $1,440
  • Insurance Expense $4,000
  • Trash Expense $350
  • Water Sewer Expense $1,055
  • New Taxes Expense $21,200
  • Operating Expense $30,010
  • Gross Income $10,470
  • Net Operating Income $93,230

Property Details

Home Type

Multi-Family

Year Built

Built in 1974

Lot Details

0

Parking

3

Listing Details

  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Subdivision Name Other: North Laguna (NL)
  • View: Yes
  • Water Sewer Expenses: 1055.00
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 49612107
  • Year Built: 1974
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Beamed Ceilings, Built-in Features
  • Stories: 2
  • Entry Location: Ground Level With Steps
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Wood
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 734.84
  • Room Type: Main Floor Bedroom

Exterior Features

  • Exterior Features: Barbecue Private
  • View: Water
  • Fencing: Privacy
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Carport Spaces: 5.00
  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned, Covered, Attached Carport, Driveway, Garage Faces Front, Built-In Storage, Garage - Three Door
  • Total Parking Spaces: 11.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Gas Oven
  • Heating Type: Forced Air
  • Laundry Features: Community
  • Trash Expense: 350.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 5900.00
  • Price Per Lot Square Foot: 456.78

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, HVAC Maintenance

Multi Family

  • Electric Expense: 1665.00
  • Gross Income: 10470.00
  • Gross Scheduled Income: 125640.00
  • Insurance Expense: 4000.00
  • Net Operating Income: 93230.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 30010.00
  • Rent Control: No
  • Total Actual Rent: 11203.00
  • Total Expenses: 30010.00

Tax Info

  • New Taxes Expense: 21200.00
  • Tax Lot: 15
  • Tax Tract Number: 413

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/09/2017 08/09/17 Sold $2,400,000 -10.9% $735 / Sq Ft
02/06/2017 02/06/17 Pending -- -- --
10/07/2016 10/07/16 For Sale $2,695,000 +12.3% $825 / Sq Ft
09/18/2016 09/18/16 Off Market $2,400,000 -- --
09/01/2016 09/01/16 Price Changed $2,695,000 -3.6% $825 / Sq Ft
05/29/2016 05/29/16 For Sale $2,795,000 -- $856 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: LG16127081

California Regional Multiple Listing Service (CRMLS)