Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

8

Building size

4,612 sqft

Lot size

6,643 sqft

Year built

1986

Stories

5

Garage spaces

6

Heating

Forced Air

Cooling

Wall/Window Unit(s)

Pool

None

View

Coastline,Ocean,Catalina,White Water,City Lights,Neighborhood,Water,Panoramic

Status

Active

Days on market

0

MLS #

249312908

About this property

A Rare Opportunity to Own a Five-Story Ocean-View Trophy Property on Laguna Beach’s Coast Highway, Steps from the Sand Rising five stories above Coast Highway, 640 Coast Highway & 641 Ramona Avenue is a rare mixed-use building moments from the beach and the Village, with panoramic ocean and Catalina Island views from its upper levels. The approximately 4,612-square-foot building holds 8 units of café, restaurant, retail, office and residential space, including two ocean-view penthouses, on a 6,643-square-foot lot with frontage on Coast Highway and Ramona Avenue. An additional space offers the potential to convert to a ninth office suite for added income, subject to City approval. Built in 1986, the building offers an elevator and 18 on-site parking spaces, rare for downtown, and the owner reports permits in place for upgrades such as new windows and flooring. Across the street, the oceanfront Pacific Edge Hotel is being reimagined by Foster + Partners as a destination resort. A rare holding for long-term investors or an owner-user seeking a place in Laguna. Buyer to verify zoning, permitted uses, unit configuration, permits and conversion potential with the City of Laguna Beach.

Location

640 S Coast Highway

Laguna Beach, Orange, CA, 92651