237 Woodland Drive, Laguna Beach, CA 92651

$2,250,000
List Price
$2,250,000
Status
ACTIVE
MLS#
PW18152086
Year Built
1930
Lot Size
3,049
Lot Location
2-5 Units/Acre
Days on Market
23
Property Type
Multifamily
Stories
Two Level
Neighborhood
Canyon (Cyn)

Property Description

*Best GRM and CAP Rate in Laguna Beach, *Walking Distance to Sawdust Festival, Pageant of the Masters, Downtown and Main Beach, *Added Value Opportunity with Upside Potential, *Great Mix of 1 & 2 Bedrooms, *Majority Single Story Units, *Over 1/2 Acre Lot 237-245 Woodland Drive sits at the base of the hills within the historic Laguna Beach Canyon. This property provides tenants the ability to walk to all of Laguna Beach’s most popular attractions including the Sawdust Festival, Pageant of the Masters, Downtown Laguna Beach and Main Beach. For the investor, the combination of the proximity to these attractions and the desirable unit types will allow the owner to charge strong rent levels without fear of vacant units or large turnover. The property consists of primarily single story units made up of one and two bedrooms. Some have exceptionally large private yards and others have access to hillside patios surrounded by lush, natural plant life and fruit trees. Being priced significantly less than the bulk of apartment complexes in Laguna Beach along with the large amount upside in rental income and equity, makes this a prime investment opportunity. This is a perfect candidate for the investor looking to create value you through upgrades and improvements of an outdated property along with better overall management.

Additional Information

Tract Number
7
Lot Description
Curbs, Storm Drains, Street Lighting
Pool Description
None
Water
Public
Attached Structure
Detached

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Rick Applebaum from Morgan Skenderian

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.