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2355 Laguna Canyon Road Laguna Beach, CA 92651

4 Beds 2 Baths 1,700 sqft Built 1960

INVESTimate

$1,095,000

List Price

$3,990

$3,740 - $4,240

Rent Est.

$1,147,341  ( +4.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $644.12
  • 7 Days on Market
  • MLS # : LG20162568
  • Updated Date : 08/21/2020 at 13:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices

Listing Agent's Description

Great Laguna Canyon multi purpose property in prime location. Zoned light industrial/artist studio, this large lot is very private and offers lots of parking, including room for an RV. Gated entry leads to a spacious yard and a single level 3 bedroom plus den, 2 bath country home. Light and bright, this home features a large great room with beamed ceilings and custom hardwood floors throughout. A charming 1 bedroom 1 bath artist studio is attached to the home and has a nice private deck in the back yard. Very close to beautiful Laguna Beach with its world renowned art galleries, fine dining, boutique shopping and sun drenched beaches. This is a great opportunity to live in Laguna Canyon and work right out of your home.

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MARKET HIGHLIGHTS

  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)

PRICE & RENT TRENDS

Neighborhood: Laguna Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $272k2040k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Laguna Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002500300035004000450050005500Rent in $18895746

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
El Morro Elementary School Primary Regular 581 27 10
Thurston Middle School Middle Regular 780 33 9
Laguna Beach High School High Regular 1,038 47 9

El Morro Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 27
10
GreatSchools Rating

Thurston Middle School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 33
9
GreatSchools Rating

Laguna Beach High School

  • Education Level: High
  • # of students: 1,038
  • # of teachers: 47
9
GreatSchools Rating
 

$985,500$1,204,500$1,095,000

PURCHASE PRICE

$3,591$4,389$3,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,990
EXPENSES Loan Payment -$4,040
Property Tax -$1,003
Property Insurance -$68
Property Management Fees -$196
CASH FLOW
-$1,316

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$1,095,000

PROJECTED PRICE

$3,990

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.78%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$295,925

INVESTMENT

$295,925

Down Payment
$273,750
Rehab Estimate
$5,750
Closing Costs
$16,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $273,750
Loan Amount $821,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,526

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,990

    LIST RENT
  • $2.35

    LIST RENT PER SQFT
  • $5,240

    COMP ESTIMATED VALUE
  • $3.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,990
1$3,9902$4,1003$4,5004$4,8005$4,800
$4,800
RENT COMPS ANALYSIS
  • 2355 Laguna Canyon Road Laguna Beach, 1
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $2.35
    •  
  • 954 Park Avenue Laguna Beach, 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1956
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.93
    •  
  • 3059 Bern Drive Laguna Beach, 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1965
    LEASED 05/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $3.10
    •  
  • 3178 Alta Laguna Boulevard Laguna Beach, 4
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1965
    LEASED 05/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $3.38
    •  
  • 1098 Wykoff Way Laguna Beach, 5
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 1950 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 1950
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,800
    • $2.92
    •  
PROPERTY LISTING DETAILS
Shauna Covington
Berkshire Hathaway Homeservices
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: LG20162568
Last Updated: 08/21/2020
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