5 Units - Laguna Beach
618 South Coast Highway, Laguna Beach 92651
DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.
We are pleased to present the opportunity to acquire 618 South Coast Highway, a 5-unit apartment complex. Completely renovated in 2018. South Laguna Beach Trophy Property with panoramic ocean views from all units. Offering 3 one bedroom one bath, 1 one bedroom plus a den one and half bath ( including a large private yard and a 650 square foot deck), one 2 story commercial space, perfect for an art gallery. With 17 parking spaces and the possibility of partial private entrances.
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 95.21% 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 (20.75%), sales jobs (15.85%), and business and financial occupations (9.95%).
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: 15.72% 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.
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.
If knowledge is power, Laguna Beach is a pretty powerful place. 65.26% of the adults in Laguna Beach have earned a 4-year college degree, masters degree, MD, law degree, or even PhD. Compare that to the national average of 21.84% for all cities and towns.
The per capita income in Laguna Beach in 2010 was $88,016, which is wealthy relative to California and the nation. This equates to an annual income of $352,064 for a family of four.
|Three 1-Bedroom 1-Bathroom||$2,950|
|One 2-Bedroom 2-Bathroom||$5,200|
|One 1-Bedroom 1-Bathroom||$6,000|
Cash Flow Analysis
|Gross Scheduled Income||$249,600|
|Net Operating Income||$173,363|
|Down Payment||$1,998,000 (40%)|
|Loan Amount||$2,997,000 (60%)|
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.