The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 14, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Laguna Beach Apartment Building Sells for $384k/Unit

10/24/23

An eight-unit multifamily community in Laguna Beach was purchased by an Orange County-based private investor for $3.075 mil, representing a sale price of $908 per square foot and $384.4k/unit. The apartment building is located at 525 Catalina, just a few blocks from Laguna’s Main Beach and downtown (Walk Score of 97).

Built in 1957, the two-story, 3.4k sf building sits on a 0.14-acre lot and features all studio units with ocean views in select units. Community amenities include a community ocean view deck, gated entry, storage lockers, and five carport spaces. This is the first time the property has been available for sale in over five decades.

CBRE’s Dan Blackwell and Mike O'Neill represented the seller, also a private investor based in Orange County. According to Blackwell, the deal closed with an all-cash buyer at 100% of the asking price in 33 days -- 51 days from list to close.

“The new owner has the potential to increase rental income by an estimated 99% with a renovation plan,” O’Neill remarked. “All tenants are on a month-to-month tenancy, which provides flexibility.”





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media