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510 Glenneyre Street

Laguna Beach, CA 92651
  • $4,600,000
  • STATUS: CONTINGENT
  • ON SITE: 11 Days
  • ID#: OC22097535
Under Contract
UPDATED: 54 min ago
$4,600,000
  • 3
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Description

Amazing investment opportunity in downtown Laguna Beach. This property is in excellent condition and has been professionally managed for years. Walk to the beach, walk to downtown. There is a two bedroom "owner's unit" plus six one bedroom units and a studio. These units are in high demand and never have a vacancy of any meaningful length. Plumbing has been completely updated. Roof has been recently replaced. The property has been in the same family for decades and they have taken very good care of it. but now they have decided it is time to sell. Up to date financials are available with a successful offer as well as copies of all existing leases. All leases are for one year terms and they expire at various times throughout the year. The units are thoroughly inspected and refurbished as needed each time a tenant moves out so there is no "deferred" maintenance. Amazing investment opportunity in downtown Laguna Beach. This property is in excellent condition and has been professionally managed for years. Walk to the beach, walk to downtown. There is a two bedroom "owner's unit" plus six one bedroom units and a studio. These units are in high demand and never have a vacancy of any meaningful length. Plumbing has been completely updated. Roof has been recently replaced. The property has been in the same family for decades and they have taken very good care of it. but now they have decided it is time to sell. Up to date financials are available with a successful offer as well as copies of all existing leases. All leases are for one year terms and they expire at various times throughout the year. The units are thoroughly inspected and refurbished as needed each time a tenant moves out so there is no "deferred" maintenance.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS, Inc. Licensed in the state of California.
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510 Glenneyre Street Laguna Beach, CA 92651

  • Price: $4,600,000
  • Status: CONTINGENT
  • On Site: 11 Days
  • Updated: 54 min ago
  • ID#: OC22097535
3
Beds
0
Baths
0
½ Baths
0.13
Acres
Neighborhood:
Oc - Laguna Beach (92651)
County:
Orange
Area:
Oc - Laguna Beach (92651)
Property Description
Amazing investment opportunity in downtown Laguna Beach. This property is in excellent condition and has been professionally managed for years. Walk to the beach, walk to downtown. There is a two bedroom "owner's unit" plus six one bedroom units and a studio. These units are in high demand and never have a vacancy of any meaningful length. Plumbing has been completely updated. Roof has been recently replaced. The property has been in the same family for decades and they have taken very good care of it. but now they have decided it is time to sell. Up to date financials are available with a successful offer as well as copies of all existing leases. All leases are for one year terms and they expire at various times throughout the year. The units are thoroughly inspected and refurbished as needed each time a tenant moves out so there is no "deferred" maintenance. Amazing investment opportunity in downtown Laguna Beach. This property is in excellent condition and has been professionally managed for years. Walk to the beach, walk to downtown. There is a two bedroom "owner's unit" plus six one bedroom units and a studio. These units are in high demand and never have a vacancy of any meaningful length. Plumbing has been completely updated. Roof has been recently replaced. The property has been in the same family for decades and they have taken very good care of it. but now they have decided it is time to sell. Up to date financials are available with a successful offer as well as copies of all existing leases. All leases are for one year terms and they expire at various times throughout the year. The units are thoroughly inspected and refurbished as needed each time a tenant moves out so there is no "deferred" maintenance.
Exterior Features

Lot Dimensions Approx 114 X 44 Parking Garage Desc Unit1 Assigned Pool N/K Roof Composition Spa N/K

Interior Features

Cooling N/K Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 1 Total Baths Unit3 1

Property Features

Actual Cap Rate 3.0 Annual Expense Actual 88953 Buildings 1 Cfd Mello Roos Fee 5254.0 Cfd Mello Roos Fee Reflects Year Gross Scheduled Income Actual 190000 Home Owners Fees 0.0 Possession Close Of Escrow Terms CashConventional Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit1 Rent Actual 2800.0 Unit2 Rent Actual 1750.0 Unit3 Rent Actual 11250.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of The Silver Group. Listing information © 2022 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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Yarbrough Group
2445 Truxtun Rd., Ste 108
San Diego CA, 92106