777 S Coast Highway
Laguna Beach, CA 92651
MLS #OC17091305

Income
  • 3units
  • 1,790sq ft
$3,200,000
Est. P&I payment: $12221.83/mo
777 S Coast Highway, Laguna Beach, CA 92651
  • 777 S Coast Highway, Laguna Beach, CA 92651 Photo 1
  • 777 S Coast Highway, Laguna Beach, CA 92651 Photo 2
  • 777 S Coast Highway, Laguna Beach, CA 92651 Photo 3
  • 777 S Coast Highway, Laguna Beach, CA 92651 Photo 4
  • 777 S Coast Highway, Laguna Beach, CA 92651 Photo 5
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Description for 777 S Coast Highway, Laguna Beach, CA 92651
• Rare and Valuable Vacation Rental Permit, Ability to Rent as Vacation Rentals Year Round • One of only a Handful of Properties in Laguna Beach with a Legal Permit for Vacation Rentals • Spectacular Beach adjacent Location in Laguna’s Downtown Village • Ocean Views and Beach Access for Tenants • Walking Distance to Gourmet Restaurants, Cafe's, Art Galleries, and Retail Shopping • Consistent High Rental Demand with Waiting List for Vacation Rental Tenants The subject property, Laguna Village, is a unique mixed use retail and multifamily property located on the ocean side of South Coast Highway within the Village of Laguna Beach. It is only steps away from the sandy beaches, markets, restaurants, and all the amenities of downtown Laguna. The property is comprised of a retail store with frontage on Coast Highway, and two stylishly furnished two-bedroom apartment units with decks, oceans views, and direct access to the village and the beautiful beaches on the coastline. The retail portion is fully leased to Otana Salon, who has operated their business for many years, catering to the local community as well as to tourists who frequent the area. The two apartment units are beautifully furnished two-bedroom units that can sleep 4-6 people.
MLS #OC17091305
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My Notes for MLS #OC17091305

General Features

  • Number Of Buildings: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Year Built: 1929
  • Year Built Source: Assessor
  • Elevation Units: Feet
  • Subdivision Name: Main Beach (BCH)
  • Subdivision Name Other: Main Beach (BCH)

Exterior Features

  • Stories Total: 3
  • Waterfront Features: Beach Access,​Ocean Access,​Ocean Side Of Highway 1
  • Lot Features: 2-5 Units/Acre
  • Lot Size SqFt: 2,613.6
  • Lot Size Units: Acres
  • Parking Features: Street
  • Pool Features: None
  • Common Walls: 1 Common Wall
  • Property Attached YN: 1

Interior Features

  • Levels: Three Or More
  • Average 1Bed Area Units: Square Feet
  • Average 2Bed Area: 538
  • Average 2Bed Area Units: Square Feet
  • Average 3Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet

Utility Features

  • Water Source: Public
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1

Financial Features

  • CapRate: 4.05
  • Electric Expense: 1,837
  • Gross Scheduled Income: 220,539
  • Insurance Expense: 1,102
  • Maintenance Expense: 2,500
  • Net Operating Income: 141,780
  • Operating Expense: 56,433
  • Other Expense: 9,904
  • Price Per SqFt: 1,787.71
  • Total Expenses: 56,433
  • Trash Expense: 2,394
  • Vacancy Allowance Rate: 11.5
  • Water Sewer Expense: 601
  • Tax Block: 23
  • Tax Lot: 644
  • Fuel Expense: 267
  • Gross Income: 209,388
  • Gross Operating Income: 198,213
  • Gross Spendable Income: 198,213
  • New Taxes Expense: 37,108
  • Other Expense Description: Misc
  • Tenant Pays: Cable TV,​Electricity,​Gas
  • Total Actual Rent: 17,449

Community Features

  • Community Features: Curbs,​Gutters,​Sidewalks,​Storm Drains,​Street Lighting

Miscellaneous Features

  • Building Area Total: 1,790
  • Building Area Units: Square Feet
  • Days On Market: 126
  • Lot Size Source: Assessor
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 126
  • Tax Tract Number: 5

Location

 
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Directions to 777 S Coast Highway, Laguna Beach, CA 92651
Head south on Pacific Coast Highway, property is on the right just past Cleo St
Listing information for 777 S Coast Highway, Laguna Beach, CA 92651 was graciously provided by our friends at the listing brokerage, Marcus & Millichap RE Invest and by listing agent Bridge Mark DRE# 01316702

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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 04/19/2018 at 5:59am
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