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12-Unit Mixed-Use Building 1105 N Coast Hwy 12 Unit Apartment Building £7,444,376 (£620,365/Unit) 3.96% Net Initial Yield Laguna Beach, CA 92651
INVESTMENT HIGHLIGHTS
- Currently, One of Two Properties Available on the Market in Laguna Beach (5+ Units)
- Over $1,600,000 in Recent Capital Improvements
- In-Place RUBS
- First Time Offered on the Open Market
- Located in a Short Term Rental Zone
- Desirable Coastal Location - Walk to Crescent Bay, Shaw's Cove, Fisherman's Cove and a Short Distance from Heisler Park & Main Beach
EXECUTIVE SUMMARY
Sandcastle is a unique investment opportunity consisting of (11) apartment units and (1) commercial unit walking distance from iconic beaches in Laguna Beach, such as, Crescent Bay, Shaw's Cove and Fisherman's Cove. This marks the first time the property has been offered on the open market. Current ownership has invested over $1,600,000 in capital improvements, including extensive upgrades completed on property systems, interiors and exteriors. The property is located within the Laguna Beach Short Term Lodging Distract, with that a new investor may be able to obtain up to two short-term rental permits.
PROPERTY FACTS
| Price | £7,444,376 | Property Subtype | Apartment |
| Price Per Unit | £620,365 | Apartment Style | Low-Rise |
| Sale Type | Investment | Costar Property Class | C |
| Yield | 3.96% | Total Plot Size | 0.18 ac |
| Gross Rent Multiplier | 17.12 | Property Size | 8,992 sq ft |
| No. Units | 12 | No. Floors | 3 |
| Property Type | Build-to-Rent | Year Built | 1969 |
| Use Class | CN - Neighborhood Commercial | ||
| Price | £7,444,376 |
| Price Per Unit | £620,365 |
| Sale Type | Investment |
| Yield | 3.96% |
| Gross Rent Multiplier | 17.12 |
| No. Units | 12 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.18 ac |
| Property Size | 8,992 sq ft |
| No. Floors | 3 |
| Year Built | 1969 |
| Use Class | CN - Neighborhood Commercial |
AMENITIES
UNIT AMENITIES
- Balcony
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 9 | £2,603 | 480 - 700 |
| 2+2 | 2 | £3,534 | 1,000 - 1,150 |
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PROPERTY TAXES
| Parcel Number | 053-152-03 | Improvements Assessment | £311,159 |
| Land Assessment | £4,144,518 | Total Assessment | £4,455,677 |
PROPERTY TAXES
Parcel Number
053-152-03
Land Assessment
£4,144,518
Improvements Assessment
£311,159
Total Assessment
£4,455,677
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12-Unit Mixed-Use Building | 1105 N Coast Hwy
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