3 Units - Laguna Beach: Property For Sale

Properties For Sale 3 Units - Laguna Beach

3 Units - Laguna Beach

150 Cress St., Laguna Beach 92651

DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.

Offered at:
$6,495,000

Property Description

RE/MAX Commercial - Apartment Sales Division is pleased to present a lifetime opportunity!! This spectacular, trophy property offers three (3) world class beach villas with at least six (6) parking (very rare) nestled on a prime beachfront location in World Famous Laguna Beach. Appointed to the nines, this luxury property offers the very best in form, function and location. The three beach villas boast single level floor plans enhanced with the finest designer finishes. Spectacular outdoor spaces include 4 fire pits, multi-level conversation spaces, with incredible ocean-view verandas. Mere feet from beach access, and within walking distance of many fine restaurants and shops. Mixes of three villas are 2 bedroom, 1 bath; 3 bedroom, 2 baths:  3 bedrooms, 2.5 baths. Each villa has the appointments rivaling better than the most prestigious hotels in town. Excellent use as a beach house for family and friends; as a second home when needed and rent the villas as vacation rentals and/or rent them as needed to supplement the income to offset property and other taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best and classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with an excellent income stream.

LIVING IN LAGUNA BEACH

Laguna Beach is a medium-sized coastal city (i.e. on the ocean, a bay, or inlet) located in the state of California. With a population of 22,991 people and five constituent neighborhoods, Laguna Beach is the 293rd largest community in California.

Laguna Beach home prices are not only among the most expensive in California, but Laguna Beach real estate also consistently ranks among the most expensive in America.

Laguna Beach is a decidedly white-collar city, with fully 95.45% of the workforce employed in white-collar jobs, well above the national average. Overall, Laguna Beach is a city of managers, professionals, and sales and office workers. There are especially a lot of people living in Laguna Beach who work in management occupations (21.60%), sales jobs (15.83%), and business and financial occupations (9.52%).

Of important note, Laguna Beach is also a city of artists. Laguna Beach has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Laguna Beach’s character.

Also of interest is that Laguna Beach has more people living here who work in computers and math than 95% of the places in the US.

Telecommuters are a relatively large percentage of the workforce: 17.05% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

One of the nice things about Laguna Beach is that it is nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Because of this, visitors and locals will often go to these areas to take in the scenery or to enjoy waterfront activities.

Do you like to read, write and learn? If you move to Laguna Beach, you'll likely find that many of your neighbors like to as well. Laguna Beach is one of the more educated communities in America, with a full 66.97% of its adults having a college degree or even advanced degree, compared to a national average across all communities of 21.84%.

The per capita income in Laguna Beach in 2018 was $92,391, which is wealthy relative to California and the nation. This equates to an annual income of $369,564 for a family of four.

Income

One 2-Bedroom 1-Bath $11,500
One 3-Bedroom 2-Bath $12,880
One 3-Bedroom 3-Bath $14,000
Monthly Total $38,380

Cash Flow Analysis

Gross Scheduled Income $460,560
Operating Expenses $175,952
Net Operating Income $284,608

Acquisition Data

Down Payment $1,948,500 (30%)
Loan Amount $4,546,500 (70%)

Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.

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