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136 Cliff Dr, Laguna Beach, CA 92651
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136 Cliff Dr Laguna Beach, CA 92651

$9,800,000 Sold Price as of 11/13/2020
  • 22 Beds
  • 20 Baths
  • 11,588 Sq.Ft.
Sold
$9,800,000 Sold Price as of 11/13/2020 Refinance Your Mortgage
Map preview of 136 Cliff Dr, Laguna Beach, CA 92651

Property Overview: 136 Cliff Dr Laguna Beach, CA has 22 bedrooms, 20 bathrooms, 11,588 living square feet and 13,952 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are delighted to offer a truly iconic piece of Laguna Beach: 136 Cliff Drive & 145 Cedar Way, a 17-unit multifamily property perched upon a hill in the heart of the city. Also known as Twin Palms, the property is situated in one of the best locations within Laguna Beach, just steps to the world famous Main Beach, Pageant of the Masters, the Sawdust Festival, and countless seaside shops, cafes, and nightlife entertainment options. Twin Palms reflects true pride of ownership, and has been lovingly and thoughtfully maintained and upgraded by the same family for almost 60 years. 16 of the 17 units have received varying degrees of renovations in the last decade, some with spec-home-caliber finishes and amenities. The property also boasts a charming courtyard with tiered gardens, as well as two sun decks offering priceless and breathtaking views of the waves and the Village. Seldom do opportunities such as this become available, and it would be a crowning addition to any investor’s portfolio.

Listed by Damien Breaux | BRE #01460301 | Morgan Skenderian
Co-listed by Monique Brown | BRE #02069331 | First Team Estates
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 133

Home details

Lot Sq. Ft
13,952
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW20101787
City
Laguna Beach
County
Orange
Time on Site
1403 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 17
  • Total # of Buildings: 2
  • # of Electric Meters: 18
  • # of Gas Meters: 18
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,206
  • Total Rent: $26,475
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,675
  • Total Rent: $5,350
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,675
  • Total Rent: $8,025
  • Pro Forma/Market Rent: $3,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3%
  • Gross Rent Multiplier: 21.11
  • Gross Scheduled Income: $483,000
  • Net Operating Income: $309,332
  • Gross Operating Income: $468,510
  • Vacancy Allowance: $14,490
  • Laundry Income: $2,400
Annual Expense Breakdown
  • Total Operating Expense: $159,178
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $103,108
  • Trash: $0
  • Gardener: $5,075
  • Insurance: $7,393
  • Maintenance: $21,250
  • Workman's Comp: $9,000
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $13,072
  • Other Expense Description: Utility

Property Details for 136 Cliff Dr

Interior Features
Laundry Information
  • Has Laundry
  • Community
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
Lot Information
  • Lot Features: 16-20 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 17
  • Parcel Number: 49609320
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Main Beach (BCH)
  • Directions: North of Laguna Canyon Road & East of Pacific Coast Highway
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
View more facts & features

Local Laguna Beach Agent

Sale History for 136 Cliff Dr

Last sold for $9,800,000 on November 13th, 2020

  • November, 2020

  • Nov 16, 2020

    Date

    Sold

    CRMLS: PW20101787

    $9,800,000

    Price

  • Oct 8, 2020

    Date

    Active Under Contract

    CRMLS: PW20101787

    $10,195,000

    Price

  • Sep 28, 2020

    Date

    Price Change

    CRMLS: PW20101787

    $10,195,000

    Price

  • Jul 27, 2020

    Date

    Price Change

    CRMLS: PW20101787

    $11,549,000

    Price

  • May 28, 2020

    Date

    Active

    CRMLS: PW20101787

    $12,485,000

    Price

Tax History for 136 Cliff Dr

Recent tax history for this property
Year Land Value Improved Value Assessed Value
The tax history for this property will expand as we gather information for this property.

Home Value Compared to the Market

This property vs the competition

136 Cliff Dr sold on November 13, 2020 for 206.16% higher than the current median sold price for the city of Laguna Beach which is $3,330,000. The median sold price per/sqft for Laguna Beach is $1,531 and this home is sold at $879.79 per/sqft which puts the price per square foot 42.53% lower than the current median sale per square foot for the city of Laguna Beach.

About 136 Cliff Dr

Detailed summary of property

136 Cliff Dr is a multi family that recently sold in Laguna Beach, CA 92651. This multi family property offered 22 bedrooms, 20 bathrooms, roughly 11,588 living square feet, and sits on an approximately 13,952 square foot lot. 136 Cliff Dr was first listed on ArdentRealEstateGroup.com on July 11, 2020. The homeowner sold the property for $9,800,000. Home in Laguna Beach are selling for a median price of $3,330,000 and a median price per square foot of $1,531. Based on Ardent Real Estate Group's Laguna Beach Market Data, this home is sold 206.16% higher than the current median priced home. Local homes that are currently for sale include 1633 N Laurel Ave, 11755 National Blvd and 11666 Mayfield Ave. While the average home in Laguna Beach, CA is selling in 92 days, 136 Cliff Dr has a days on market of 133 days. There are currently 162 homes for sale in the Laguna Beach real estate market and 144 of them are single family homes while 18 of them are condos and 0 are townhomes. For more information on this home for sale at 136 Cliff Dr Laguna Beach, CA 92651 contact Ardent Real Estate Group and we will put you in touch with one of our Laguna Beach agents.

Public Facts for 136 Cliff Dr

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
--
Stories
--
Type
--
Pool
--
Spa
--
County
--
Lot#
--
APN
--

The source for these homes facts are from public records.

92651 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$4,295,000
Median List Price/Sq.Ft.
$1,783
Median Sold Price
$3,330,000
Median Sold Price/Sq.Ft.
$1,531
Total Inventory
161
Median Sale to List Price %
95.28%
Avg Days on Market
52
Loan Type
Conventional (24.14%), FHA (0%), VA (0%), Cash (48.28%), Other (27.59%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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