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618 S Coast, Laguna Beach, CA 92651
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618 S Coast Laguna Beach, CA 92651

$5,100,000 Sold Price as of 12/13/2021
  • 6 Beds
  • 5 Baths
  • 4,005 Sq.Ft.
Sold
$5,100,000 Sold Price as of 12/13/2021 Refinance Your Mortgage
Map preview of 618 S Coast, Laguna Beach, CA 92651

Property Overview: 618 S Coast Laguna Beach, CA has 6 bedrooms, 5 bathrooms, 4,005 living square feet and 5,737 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 100% Leased trophy property walking distance to the beach and downtown "The Village" in Laguna Beach. Excellent unit mix of (3) 1+1s, (1) 2+2, and a commercial unit. The Two bedroom Unit & Commercial Unit have an Amazing Ocean View. There is tremendous upside potential by increasing the residential rents on the 1+1s. And when leases turn, have the tenants pay their own electric bill. The building is separately metered, however the Owner did not take advantage of this and is paying for everyone's electricity. Two units are permitted for short term rentals like VRBO. REQUEST OFFERING MEMORANDUM FROM BROKER.

Listed by John Gessford | BRE #01137479 | First Team Estates
Last checked: 10 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 286

Home details

Lot Sq. Ft
5,737
HOA Dues
$0/mo
Year built
1965
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
OC20188062
City
Laguna Beach
County
Orange
Time on Site
1337 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
  • # of Leased Units: 5
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 6
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,850
  • Total Rent: $8,550
  • Pro Forma/Market Rent: $9,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $5,195
  • Total Rent: $5,195
  • Pro Forma/Market Rent: $5,200
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $7,500
  • Total Rent: $7,500
  • Pro Forma/Market Rent: $7,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.72%
  • Gross Rent Multiplier: 18.75
  • Gross Scheduled Income: $254,940
  • Net Operating Income: $178,011
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $76,929
  • Electric: $4,000
  • Gas/Fuel: $900
  • New Taxes: $50,817
  • Trash: $1,500
  • Insurance: $3,700
  • Maintenance: $3,500
  • Professional Management: $12,807
  • Water/Sewer: $2,000

Virtual Tour

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Property Details for 618 S Coast

Interior Features
Laundry Information
  • Has Laundry
  • Electric Dryer Hookup, Gas & Electric Dryer Hookup
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 5
  • Parcel Number: 64403629
  • Year Built Source: Public Records
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: The Village (VIL)
  • Directions: Coast Hwy and Legion St.
Neighborhood Information
  • Community Features: Biking, Curbs, Gutters, Suburban
View more facts & features

Local Laguna Beach Agent

Sale History for 618 S Coast

Last sold for $5,100,000 on December 13th, 2021

  • June, 2021

  • Jun 24, 2021

    Date

    Withdrawn

    CRMLS: OC20188062

    $4,780,000

    Price

  • Oct 14, 2020

    Date

    Price Change

    CRMLS: OC20188062

    $4,780,000

    Price

  • Sep 10, 2020

    Date

    Active

    CRMLS: OC20188062

    $4,995,000

    Price

  • December, 2019

  • Dec 2, 2019

    Date

    Canceled

    CRMLS: OC19171278

    $5,550

    Price

  • Jul 18, 2019

    Date

    Active

    CRMLS: OC19171278

    $5,550

    Price

  • Listing provided courtesy of CRMLS

    Gorgeous completely remodeled property. This is a 1 bedroom plus office with 2 full baths. Very open floor plan with stunning ocean views. The roof top deck is huge and private to this unit. Beautiful kitchen and wine refrigerator. Tandum parking spaces. 1 carport 1 uncovered. Laundry hookups in unit. Located in the heart of Laguna Beach with access to beaches, restaurants and shopping.

  • October, 2018

  • Oct 1, 2018

    Date

    Expired

    CRMLS: LG18134828

    $5,900,000

    Price

  • Aug 2, 2018

    Date

    Price Change

    CRMLS: LG18134828

    $5,900,000

    Price

  • Jun 7, 2018

    Date

    Active

    CRMLS: LG18134828

    $6,295,000

    Price

  • Listing provided courtesy of CRMLS

    618 South Coast Highway & 621 Ramona Avenue in Laguna Beach, California consists of 5 rent-able units. The property has been completely updated and remodeled as of June 2018. There are 4 residential apartments and 1 commercial unit. The commercial/office space is directly fronting on South Coast Highway and is a 2 story suite. There are 3 one bedroom apartments & 1 two bedroom & 2 bathroom apartment. The property is located about 6 blocks from downtown Laguna Beach and a short distance to the Pacific Ocean, sandy beaches and many of the restaurants & shops that the Laguna Beach lifestyle has to offer. This property has been completely updated with new windows, doors, kitchens, bathrooms, air conditioning and a spectacular ocean viewing roof top deck. With a reasonable down payment the Seller may consider carrying a 1st Trust Deed for a period of time.

  • October, 2018

  • Oct 1, 2018

    Date

    Expired

    CRMLS: LG18187260

    $5,900,000

    Price

  • Aug 3, 2018

    Date

    Active

    CRMLS: LG18187260

    $5,900,000

    Price

  • Listing provided courtesy of CRMLS

    618 South Coast Highway, Laguna Beach, California is a "Family Compound" or "Corporate Retreat" recently updated and refurbished. This property is in a wonderful location to refuel, refresh and spend time together overlooking the Pacific Ocean. This compound / retreat consists of 1 owners suite, 3 one bedrooms units and a street fronting commercial store. Within "The Compound / Retreat" is a garden, roof top deck and expansive ocean views. The property consists of 7 garages, 3 carports and with tandem parking a total of 17 parking spaces. The property is located a short distance to the Pacific Ocean, sand beaches and about 6 blocks to Downtown Laguna Beach and its many restaurants, retail stores, coffee and ice cream shops. There are 2 addresses for the property, 618 South Coast Highway & 621 Ramona Avenue, Laguna Beach, California. The Seller will consider carrying a 1st Trust Deed after a reasonable down payment.

  • October, 2018

  • Oct 1, 2018

    Date

    Expired

    CRMLS: LG18134791

    $5,900,000

    Price

  • Aug 2, 2018

    Date

    Price Change

    CRMLS: LG18134791

    $5,900,000

    Price

  • Jun 7, 2018

    Date

    Active

    CRMLS: LG18134791

    $6,295,000

    Price

  • Listing provided courtesy of CRMLS

    618 South Coast Highway in Laguna Beach, California consists of 5 rental units, 1 commercial/office space & 4 residential apartments. The commercial/office space is directly fronting on South Coast Highway and is a 2 story suite. 3 of the apartments are 1 bedroom & 1 bathrooms and 1 apartment is a large 2 bedroom & 2 bathroom unit. The property has been completely updated and remodeled in June 2018 with new windows, doors, air conditioning, appliances and a roof top deck with expansive Pacific Ocean views. The property is located about 6 blocks from downtown Laguna Beach and is just a short distance to the Pacific Ocean, sandy beaches and many of the restaurants & shops that the Laguna Beach lifestyle has to offer. The Seller will consider carrying a First Trust Deed with a reasonable down payment.

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Tax History for 618 S Coast

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

618 S Coast sold on December 13, 2021 for 59.1% 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 $1322.85 per/sqft which puts the price per square foot 13.6% lower than the current median sale per square foot for the city of Laguna Beach.

About 618 S Coast

Detailed summary of property

618 S Coast is a multi family that recently sold in Laguna Beach, CA 92651. This multi family property offered 6 bedrooms, 5 bathrooms, roughly 4,005 living square feet, and sits on an approximately 5,737 square foot lot. 618 S Coast was first listed on ArdentRealEstateGroup.com on September 10, 2020. The homeowner sold the property for $5,100,000. 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 59.1% higher than the current median priced home. Local homes that are currently for sale include 1809 W Bay Ave, 410 Clubhouse Ave and 3912 River Ave. While the average home in Laguna Beach, CA is selling in 92 days, 618 S Coast has a days on market of 286 days. There are currently 160 homes for sale in the Laguna Beach real estate market and 142 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 618 S Coast 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 618 S Coast

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.
$1,759
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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