NOT LISTED FOR SALE
1 Bed
1 Bath
4,664 Sq Ft
0.28 Acres

Last Sold May 27, 2015

Last sale price $4,400,000 $943 Per Sq Ft

94 Days on Market

Highlights

  • Gated Community
  • 0.28 Acre Lot
  • Granite Countertops
  • El Morro Elementary School Rated A+
  • Wood Flooring
  • 3-minute walk to Brown's Park

About This Home

As of May 2015

Welcome to The Cottages in the heart of downtown Laguna Beach. The majority of this income property has been entirely renovated and features eight classic one level cottages. Each cottage has been meticulously updated to include brand new hardwood flooring, all new kitchens that include, wood cabinetry with granite slab counter tops and stainless steel appliances. Each bath offers granite slab counters and tiled showers with glass door enclosures. New vinyl double-pane windows have been installed along with fireplace heaters. In addition some cottages offer a private patio and all cottages include one car garage that has been finished inside with new garage doors installed. There is an additional garage available for rent for one of the units. The lushly redesigned landscaped courtyard is centrally located. No detail was left untouched. This is truly a must see and a great investment opportunity! Short walking distance to the shops and main beach, this is the best location in the Village. The sale of this property includes parcel number 644-012-011. Buyer to verify square footage.

Last Agent to Sell the Property

Nick Roshdieh

Pacific Sotheby's Int'l Realty License #01339587 Listed on: 01/23/2015

Pacific Sotheby's Int'l Realty

Last Buyer's Agent

Queence Li

QCO REALTY License #01491308

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1939

Lot Details

  • 0.28 Acre Lot
  • Property fronts an alley
  • Two or More Common Walls
  • Masonry wall
  • Wrought Iron Fence
  • Stucco Fence
  • Fence is in excellent condition

Parking

  • 10 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Bungalow
  • Property Attached
  • Slab Foundation
  • Shingle Roof
  • Composition Roof
  • Clapboard
  • Stucco

Interior Spaces

  • 4,664 Sq Ft Home
  • 1-Story Property
  • Built-In Features
  • Electric Fireplace
  • Gas Fireplace
  • Double Pane Windows
  • Living Room with Fireplace
  • Wood Flooring

Kitchen

  • Galley Kitchen
  • Gas Range
  • Microwave
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Location

  • Urban Location

Utilities

  • Forced Air Heating System
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 157
  • Tax Tract Number 410
  • Assessor Parcel Number 64401210

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 8 Units

Building Details

  • 6 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Electric Expense $840
  • Insurance Expense $1,800
  • Maintenance Expense $4,800
  • Professional Management Expense $11,628
  • Trash Expense $720
  • Water Sewer Expense $2,880
  • New Taxes Expense $33,600
  • Gross Income $20,100
  • Net Operating Income $170,292

Security

  • Gated Community

Property Details

Home Type

Multi-Family

Year Built

Built in 1939

Lot Details

0

Parking

10

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 11628.00
  • Property Attached: Yes
  • Road Frontage Type: Alley
  • Road Surface Type: Alley Paved
  • Security: Gated Community
  • Subdivision Name Other: The Village (VIL)
  • Water Sewer Expenses: 2880.00
  • Zoning: R2
  • Architectural Style: Bungalow
  • Property Type: Residential Income
  • Parcel Number: 64401210
  • Year Built: 1939
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Built-in Features, Granite Counters
  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Flooring: Wood
  • Appliances: Yes
  • Fireplace Features: Electric, Gas, Living Room
  • Levels: One
  • Price Per Square Foot: 943.40
  • Room Type: Galley Kitchen
  • Window Features: Double Pane Windows

Exterior Features

  • Foundation: Slab
  • Fencing: Masonry, Stucco Wall, Wrought Iron, Excellent Condition
  • Pool Private: No
  • Roof: Composition, Shingle
  • Construction Materials: Clapboard, Stucco

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned, Garage
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Phone Connected
  • Heating: Yes
  • Laundry: No
  • Appliances: Disposal, Gas Range, Microwave
  • Heating Type: Forced Air
  • Trash Expense: 720.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Lot Features: Walkstreet
  • Lot Size Sq Ft: 12013.00
  • Lot Size Acres: 0.2760

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 840.00
  • Gross Income: 20100.00
  • Gross Scheduled Income: 244800.00
  • Insurance Expense: 1800.00
  • Lot Size Area: 12013.0000 Square Feet
  • Maintenance Expense: 4800.00
  • Net Operating Income: 170292.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 6
  • Number Of Units Total: 8
  • Operating Expense: 62268.00
  • Rent Control: No
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 33600.00
  • Tax Lot: 157
  • Tax Tract Number: 410

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 Change Sq Ft Price
05/27/2015 05/27/15 Sold $4,400,000 +175900.0% $943 / Sq Ft
04/23/2015 04/23/15 Pending -- -- --
03/19/2015 03/19/15 Rented $2,500 0.0% --
03/19/2015 03/19/15 For Rent $2,500 0.0% --
01/19/2015 01/19/15 For Sale $4,950,000 +76.8% $1,061 / Sq Ft
11/22/2013 11/22/13 Sold $2,800,000 -8.2% $600 / Sq Ft
11/05/2013 11/05/13 Pending -- -- --
10/23/2013 10/23/13 For Sale $3,050,000 -- $654 / 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: OC15015821

California Regional Multiple Listing Service (CRMLS)