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

Sale Details

Date Sold: August 9, 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 in unit

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

5,900 Sq Ft Lot

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
  • 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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 11, 2019
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,550,000
Interest Rate
0.036%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 8, 2017
Sold by
Bought by

Purchase Details

Closed on
Sep 29, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,109,500
Interest Rate
0.0577%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 20, 1994
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Available
-- None Available
$2,400,000 Chicago Title Co
$1,585,000 Equity Title Company
$425,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,550,000
Previous Owner $640,000
Previous Owner $1,109,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $32,761 $2,730,787 $2,389,440 $341,347
2024 $31,933 $2,677,243 $2,342,589 $334,654
2023 $31,043 $2,624,749 $2,296,656 $328,093
2022 $30,293 $2,573,284 $2,251,624 $321,660
2021 $29,556 $2,522,828 $2,207,475 $315,353
2020 $29,069 $3,400,000 $2,900,000 $500,000
2019 $28,458 $2,448,000 $2,142,000 $306,000
2018 $27,836 $2,400,000 $2,100,000 $300,000
2017 $22,633 $1,903,656 $1,663,454 $240,202
2016 $22,120 $1,866,330 $1,630,837 $235,493
2015 $21,699 $1,838,296 $1,606,340 $231,956
2014 $21,209 $1,802,287 $1,574,874 $227,413
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: LG16127081

California Regional Multiple Listing Service (CRMLS)
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