237 Woodland Drive

    Laguna Beach, CA 92651
    • $2,150,000
    • STATUS: Active
    • ON SITE: 173 days
    • ID#: PW18152086
    UPDATED: 67 min ago
    $2,150,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,000
      SQFT
    • $538
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    REDUCED $100,000! *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 Lot237-245 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+GGs 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 This is a perfect candidate for the investor looking to create value you through upgrades and improvements of an outdated property along with better overall management.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-16T20:27:09.063. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.impactca.com/homes/85002224

    237 Woodland Drive Laguna Beach, CA 92651

    • Price: $2,150,000
    • Status: Active
    • Updated: 67 min ago
    • ID#: PW18152086
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    4,000
    SQFT
    $538
    $/SQFT
    1930
    Built
    Neighborhood:
    Canyon (Cyn)
    County:
    Orange
    Area:
    LC - Laguna Canyon
    Property Description
    REDUCED $100,000! *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 Lot237-245 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+GGs 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.
    Exterior Features

    Garage Spaces 0.00 Lot Features 2-5 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features None Levels Two

    Property Features

    Additional Parcels Description 641-231-10 Additional Parcels YN Yes Building Area Units Square Feet Cap Rate 3.60 Community Features CurbsStorm DrainsStreet Lighting Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 2400.00 Gross Income 0.00 Gross Multiplier 16.32 Gross Operating Income 127749.00 Gross Scheduled Income 131700.00 Insurance Expense 7000.00 Land Lease YN No Laundry YN No Net Operating Income 78310.00 New Construction YN No New Taxes Expense 25498.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 3 Operating Expense 49439.00 Operating Expense Percent 37.50 Other Expense 6376.00 Other Expense Description Utility Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Canyon (Cyn) Total Expenses 49439.00 Trash Expense 0.00 Vacancy Allowance 3951 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Rick Applebaum of Morgan Skenderian.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-16T20:27:09.063. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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