617-621 Lombardy Ln, Laguna Beach, CA 92651

2 Unit Apartment Building Offered at $2,895,000 at a 2.47% Cap Rate in Laguna Beach, CA 92651

Asking Price $2,895,000

Property Type: Multifamily
Square Feet: 3,916 SF

Listing Contacts

Mike O’Neill

Verified Profile

Property Info

Property Overview

Duplex within a few blocks of the Beach! An opportunity to own two buildings on one lot. The front cottage is fully renovated and consists of 2-bedrooms and 1-bathroom. This cottage has recently undergone over $580,000 in capital improvements which include plumbing, electrical, roof, and windows. The rear building has a 1-bedroom unit upstairs with ocean views and there is a non-conforming studio unit downstairs. All units are tenant occupied and have a total monthly rent of $9,610. This property is perfect for any investor!

Property Details

Year Built/Renovated: 1936/2023
Stories: 2
Lot Size (sq. ft): 3,920 SF
Units: 2

Highlights

(2) Buildings on (1) Lot Includes
Desirable Coastal Location (Walk Score: 85) - Located Only 0.4 Miles From Anita Street Beach
(1) 2B/1B Single-Family Home has Private Gated Patio & Over $580K in Capital Improvements
(1) 1B/1B Unit has Private Balcony with Ocean Views & Shared Patio, Vaulted Ceilings & Hardwood Floors, Laundry Hook-ups in Garage
(1) Non-Conforming Studio has Shared Outdoor Patio & Laundry Hook-ups in Garage

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