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12-Unit Mixed-Use Building 1105 N Coast Hwy 12 Unit Apartment Building $13,826,983 CAD ($1,152,249 CAD/Unit) 3.96% Cap Rate 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 | $13,826,983 CAD | Property Subtype | Apartment |
| Price Per Unit | $1,152,249 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.96% | Lot Size | 0.18 AC |
| Gross Rent Multiplier | 17.12 | Building Size | 8,992 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1969 |
| Zoning | CN - Neighborhood Commercial | ||
| Price | $13,826,983 CAD |
| Price Per Unit | $1,152,249 CAD |
| Sale Type | Investment |
| Cap Rate | 3.96% |
| Gross Rent Multiplier | 17.12 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 8,992 SF |
| No. Stories | 3 |
| Year Built | 1969 |
| Zoning | CN - Neighborhood Commercial |
AMENITIES
UNIT AMENITIES
- Balcony
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | $4,835 CAD | 480 - 700 |
| 2+2 | 2 | $6,564 CAD | 1,000 - 1,150 |
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PROPERTY TAXES
| Parcel Number | 053-152-03 | Improvements Assessment | $586,506 CAD |
| Land Assessment | $7,812,045 CAD | Total Assessment | $8,398,551 CAD |
PROPERTY TAXES
Parcel Number
053-152-03
Land Assessment
$7,812,045 CAD
Improvements Assessment
$586,506 CAD
Total Assessment
$8,398,551 CAD
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12-Unit Mixed-Use Building | 1105 N Coast Hwy
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