363 Cleo Street, Laguna Beach, California 92651, Laguna Beach, - bed, bath

home-pic
ACTIVE$2,995,000
363 Cleo Street, Laguna Beach, California 92651
0Bed
0Bath
2,600Sqft
9,583Lot
Year Built
1992
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
LG24236512
Home ConditionGood
Features
Good View:
Patio
View

About this home

EXCELLENT VALUE FOR A SPACIOUS DUPLEX ON A LARGE LOT JUST MINUTES FROM THE BEACH AND LAGUNA'S "HIP" DISTRICT. THE UNITS ARE SIDE BY SIDE WITH NO-ONE ABOVE OR BELOW AND EACH UNIT OFFERS TWO LARGE BEDROOMS, TWO BATHS, FIREPLACE IN LIVING ROOM, OPEN KITCHEN, DINING AND LOTS OF LIGHT AND PRIVACY. EACH UNIT HAS AN ATTACHED 2-CAR GARAGE AND FEELS LIKE A SEPARATE CONDO/TOWNHOME. Incredible investment opportunity in prime section of Laguna's iconic "Village" or live in one unit and rent the other. Both units are currently rented and the owner wants to respect the Tenant's privacy. As such, there will be no preview or open house and showings will require a written offer (obviously subject to buyer's sole approval after inspection). Designed by Morris Skenderian this property has never before been for sale. Call listing agent for more information or general descriptions. BUYER TO COOPERATE WITH SELLER'S 1031 TAX DEFERRED EXCHANGE ALL EXPENSE NUMBERS AND THE PROFORMA RENTS ARE ESTIMATES ONLY. SQUARE FOOTAGES ARE ESTIMATED.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (12 Listings)
Beds05
Baths04
Square foot2,6001,827
85%
Lot Size9,5833,920
85%
Price$3M$2.5M
92%
Price per square foot$1,152$1,478
31%
Built year19921945
85%
HOA
Days on market351173
92%
Condition Rating
Good

The property was built in 1992. The images show that at least one of the units has been updated with new flooring, kitchen cabinets, countertops, and bathroom vanities. While not a full renovation, the updates are recent and the property appears to be in good, move-in ready condition.
Pros & Cons

Pros

Excellent Investment Opportunity: The property is a duplex in a prime location, offering the potential to live in one unit and rent the other, or rent both units for income.
Desirable Location: Located in Laguna Beach's iconic "Village," just minutes from the beach and the "hip" district, offering convenient access to amenities and attractions.
Spacious Units: Each unit features two large bedrooms, two bathrooms, a fireplace, an open kitchen, and a dining area, providing ample living space.
Attached Garages: Each unit has an attached 2-car garage, offering convenient and secure parking.
Large Lot: The property sits on a large 9,583 sqft lot, potentially offering outdoor space and future development opportunities.

Cons

Limited Showings: Showings require a written offer and are subject to tenant's privacy, potentially limiting buyer access and due diligence.
Estimated Expenses and Rents: Expense numbers and proforma rents are estimates only, requiring thorough verification by the buyer.
1031 Exchange: Buyer must cooperate with seller's 1031 tax-deferred exchange, potentially adding complexity to the transaction.

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