374 Cypress Drive
$6,100,000
374 Cypress Drive, Laguna Beach, CA 92651
3.96
Cap Rate
100
Occupancy
Details:
Description:
Cypress Dr. has completed all planned interior and exterior capital improvement projects and is operating as a fully renovated, stabilized asset. The property, consisting of 10 apartment units and 2 ADUs, is currently 100% occupied and has consistently maintained strong occupancy, underscoring the continued demand for quality rental housing in the Laguna Beach market.
A property management transition was successfully implemented in February 2026, with operations continuing seamlessly throughout the change. Management is actively executing lease renewals with rental rate increases as leases mature, positioning the property to enhance revenue while preserving high occupancy and resident satisfaction. With capital improvements complete and day-to-day operations stabilized, the asset remains well-positioned for sustained cash flow and long-term value creation.
PROPERTY BENEFITS
▪ 12 units (10 apartment units + 2 ADUs), built 1948 and renovated in 2021
▪ 100% occupied
▪ Trophy Laguna Beach location
▪ Supply-constrained coastal submarket
▪ Strong long-term appreciation profile
▪ $6,100,000 price: $508,333/unit, 3.96% current cap rate, 4.24% pro forma cap rate
Offered directly by Ownership. Buyer's brokers welcome.
Location
Gallery
