231 Cajon Street

Laguna Beach, CA 92651

$5,265,000
Last Sold Price
7
Beds
7
Baths
2,638 Sq. Ft.
$1,996 / Sq. Ft.
2,638
Sq. Ft.
$1,996
per Sq. Ft.

Description

Rarely available, one-of-a-kind trophy property. Completely functionally and aesthetically renovated cottages furnished by tuvalu home, sitting on a double lot just steps from two of laguna’s most scenic and iconic coves. Fully renovated 6-unit property in highly sought-after North Laguna Beach ideally located within blocks of beautiful Crescent Bay and Shaw’s Cove beaches. Every last detail of this property has been meticulously designed and updated with luxurious finishes and incomparable attention...Rarely available, one-of-a-kind trophy property. Completely functionally and aesthetically renovated cottages furnished by tuvalu home, sitting on a double lot just steps from two of laguna’s most scenic and iconic coves. Fully renovated 6-unit property in highly sought-after North Laguna Beach ideally located within blocks of beautiful Crescent Bay and Shaw’s Cove beaches. Every last detail of this property has been meticulously designed and updated with luxurious finishes and incomparable attention to detail. A generational family compound or an investment opportunity with substantial, market-proven income, this double lot property offers a rare chance to own a piece of paradise just a stone's throw away from the sparkling Pacific Ocean. Come and see for yourself why this property is a must-see gem in Laguna Beach. This stunning trophy property comprises 6 units (231-241 Cajon), including four 1-bedroom, 1-bath freestanding “jewel box” open beam historic cottages with fireplaces (@ 435 sq ft each) and one 2-bedroom, 2-bath unit (@ 898 sq ft) with private deck and will include a new ADU (@ 548 sq ft ADU). The property sits on a rare and large double lot of @ 9,000 sq ft perfectly arranged surrounding a central courtyard featuring a fire pit and farmhouse “community” table perched beneath a heavy timber pergola perfect for coastal indoor-outdoor living. North Laguna Beach is known for its picturesque beaches, renowned art galleries, and vibrant culture. This area is a popular destination for both tourists and locals, making it an ideal location for a rental property or compound. Just a short walk to the beach, and close to all the shopping, dining, and entertainment that North Laguna has to offer. This property in one of a kind in its design and is ready to generate income from day one. Priced at just under $6 million, this property will not last long. Don't miss your chance to own a piece of paradise.
  1. Listed by Tyler Alter • DRE #02126524 • Brokerage DRE #01317331 • Berkshire Hathaway HomeServices California Properties • 949-371-3085
  2. Listed by Mark Christy • DRE #00776546 • Brokerage DRE #01317331 • Berkshire Hathaway HomeServices California Properties

Property Details for 231 Cajon Street

Parking Spaces Total
2
Private Pool
No
Total Units
6.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2638
Assessor Parcel Number
053-124-09
Property Attached YN
false

Location

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Tyler Alter, DRE #02126524; Berkshire Hathaway HomeServices California Properties, Mark Christy, DRE #00776546

Sold By None MRML, NONE NONE, DRE #N/A

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LISTING UPDATED: 08/31/2023 08:49 AM

Property Details for 231 Cajon Street

StatusClosed
MLS #LG23029451
Days on Market145
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1936
Lot Size0.21 AC / 8,999 SF
CountyOrange County

Location

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Tyler Alter, DRE #02126524; Berkshire Hathaway HomeServices California Properties, Mark Christy, DRE #00776546

Sold By None MRML, NONE NONE, DRE #N/A

Add your commute

Building Information for 231 Cajon Street

Stories1Residences-Year Built1936Building Size-Lot Size0.21 AC / 8,999 SF

Payment Calculator

$31,923 per month

30 year fixed, 7.25% Interest

Principal and Interest

$28,733

Property Taxes

$3,190

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 231 Cajon Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $271,440
  • Gross Scheduled Income: $306,552
  • Vacancy Allowance: 12360
  • Vacancy Allowance Rate: 4
  • Gross Operating Income: $306,552
  • Net Operating Income: $268,992
  • Number Of Rented Garages: 0
  • Garage Rental Rate: $0
  • Garage Income: $0
  • Laundry Income: $0
  • Other Income Description: Coin Laundry installed
  • Cap Rate: 4.5
  • Financing: Cash
Expense Details
  • Operating Expense: $25,200
  • Gardener Expense: $5,400
  • Cable TV Expense: $1,200
  • Insurance Expense: $13,000
  • Maintenance Expense: $2,000
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $3,600
  • Total Expenses: $25,200
Tax / Assessment Info
  • Tax Block: R
  • Tax Tract Number: 481
  • Tax Census Tract: 626.56
  • CFD/Mello-Roos Fee: $4,415
  • Tax Lot: 9
Community / Development
Community / Development
  • Community Features: Hiking
Property / Structure Info
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Multi/Split
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Gravel
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $6,350
  • Unit Type Total Rent: $6,350
  • Unit Type Pro Forma: 6350
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $5,296
  • Unit Type Total Rent: $5,296
  • Unit Type Pro Forma: 5300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $5,296
  • Unit Type Total Rent: $5,296
  • Unit Type Pro Forma: 5300
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $4,500
  • Unit Type Total Rent: $4,500
  • Unit Type Pro Forma: 5300
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Actual Rent: $5,296
  • Unit Type Total Rent: $5,296
  • Unit Type Pro Forma: 5300
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Pro Forma: 3800
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 5
  • Rent Controlled: No
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 2
  • Number With Range: 5
  • Number With Refrigerator: 5
  • Number Wall AC: 5

Property History for 231 Cajon Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 231 Cajon Street

Taxable ValueLand$3,213,000Additions$102,000Total$3,315,000
Tax Record2023$38,284 ($3,190 / month)
Home Facts
Beds2Total Finished SqFt736 SqFtAbove Grade Finished SqFt736 SqFtStories1Lot Size8,999 SqFtStyleSingle Family ResidenceYear Built1937CountyORANGEAPN053-124-09

Schools near 231 Cajon Street

This home is within Laguna Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
El Morro Elementary School
PublicK to 5

Thurston Middle School
Public6 to 8

Laguna Beach High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Tyler Alter, DRE #02126524; Berkshire Hathaway HomeServices California Properties, Mark Christy, DRE #00776546

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.