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531-539 Catalina Street, Laguna Beach, CA, 92651

531-539 Catalina
$3,590,000

Key Information

Cap Rate
4%
$ per SF
$1,011
Tot. SF
3,550
Lot Size
0.13 Acres
$ per unit
$398,889
Units
9
Year Built
1948
Type
Apartments
NOI
$143,627

Highlights

  • Long-term pride of ownership, with the same attentive ownership for approximately 30+ years, reflected in the property’s strong maintenance and curated coastal character
  • Well-maintained asset featuring extensive brick hardscape and concrete improvements, including driveways, walkways, parking pads, and private resident gathering areas
  • Highly desirable outdoor living features, with units offering access to decks, patios, and common entertaining areas; one upstairs unit includes a private deck with exceptional coastal views, with additional units enjoying ocean views
  • Charming front 2BD/1BA residence featuring a private side patio, vaulted wood-beamed ceilings, and pitched composition roofing, adding architectural character and owner-user appeal
  • Functional unit features throughout, including refrigerators and garbage disposals in all units, gas stoves/ovens in all non sleeping-room units, and dishwashers in two units
  • Favorable parking configuration with a total of eight off-street parking spaces, including four covered spaces, a valuable amenity in this beachside location
  • Roof system approximately 8 years old, with a mix of pitched composition roofing at the front residence and flat roofing on the remainder of the structure
  • Legal 9-unit property per Laguna Beach Real Property Report, consisting of (2) two-bedroom/one-bath units, (5) one bedroom/one-bath units, (1) studio/one-bath unit, plus (1) non-conforming studio; four of the legal units are designated as “Sleeping Rooms”

Photos

Location

Agents

Broker of Record

David Harrington

License # 02168060 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245