370 Loma, Laguna Beach, California 92651, Laguna Beach, - bed, bath

home-pic
ACTIVE$3,250,000
370 Loma, Laguna Beach, California 92651
0Bed
0Bath
2,056Sqft
4,356Lot
Year Built
1948
Close
-
List price
$3.25M
Original List price
$3.25M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
LG25015318
Home ConditionFair
Features
Good View: None
Patio
View-

About this home

370 Loma Terrace is a well-maintained triplex located on a prime corner lot in the heart of Downtown Laguna Beach. This property's location is walkable to all the shops and restaurants on Forest Avenue, Broadway, Main Beach and surrounding areas. It doesn't get much better. The property features two 1-bedroom/1-bathroom units upstairs and a spacious 2-bedroom/1-bathroom unit downstairs with an attached two-car garage. There is additional off-street parking for four more vehicles. Each unit offers clean interiors, off-street parking, and access to a large shaded patio. The exterior has been recently painted. Although the location is close to the vibrant downtown area, it is situated on a relatively quiet, low-traffic street. The new owner/investor can take over with little hassle or choose to move into the ground floor two-bedroom unit for themselves. Built in 1948 on a 4,356 sq. ft. lot, it is a low-maintenance, well-performing investment in a highly desirable coastal market. Residents of Laguna Beach enjoy stunning coastal landscapes, pristine beaches, and dramatic cliffs with 80 miles of hiking/biking trails and countless choices for gourmet dining. The city boasts almost 7 miles of Pacific coastline, featuring over 30 unique beaches and coves that provide endless opportunities for outdoor exploration. It is famous for its vibrant artistic community, galleries and world-renowned Pageant of the Masters. This tight knit community is proud of its world-class school system and a robust athletic program. Residents enjoy an unparalleled lifestyle rich in natural beauty and unique experiences.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (12 Listings)
Beds05
Baths04
Square foot2,0561,827
77%
Lot Size4,3563,920
54%
Price$3.25M$2.5M
92%
Price per square foot$1,581$1,495
77%
Built year19481945
54%
HOA
Days on market288174
92%
Condition Rating
Fair

The property was built in 1948. The listing mentions 'clean interiors' and a 'recently painted' exterior, suggesting regular upkeep. However, given the age, the kitchens and bathrooms are likely outdated and require minor updates. The property appears to be maintained but not recently renovated.
Pros & Cons

Pros

Prime Location: Located in the heart of Downtown Laguna Beach, walkable to shops, restaurants, and Main Beach.
Income Potential: Triplex property with two 1-bedroom units and one spacious 2-bedroom unit, offering immediate rental income.
Parking: Features an attached two-car garage and additional off-street parking for four more vehicles, a valuable asset in downtown Laguna Beach.
Low-Maintenance Investment: The property is described as a low-maintenance, well-performing investment, ideal for hands-off ownership.
Desirable Coastal Market: Located in Laguna Beach, known for its stunning coastal landscapes, beaches, and vibrant artistic community.

Cons

Age of Property: Built in 1948, the property may require updates to meet modern standards and preferences.
Potential for Updates: While the exterior has been recently painted, the interiors may need updating to maximize rental income or appeal to owner-occupants.
No Specific Amenities Highlighted: The description focuses on location and income potential, lacking details about specific high-end amenities that might justify the price point.

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