CBRE Facilitates Sale Of 12-Unit Multifamily Property In Laguna Beach For $5.1 Million

The Laguna Terrace is a 12-unit multifamily property located at 2200 South Coast Highway in Laguna Beach, California. This property spans approximately 0.52 acres and was sold for $5,100,000, achieving a price per unit of $425,000. The transaction reflects a sale price of $1,093 per square foot, highlighting the value of the asset in its market.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $5,100,000
• Units: 12
• Price Per Unit: $425,000
• Address: 2200 South Coast Highway
• Market: Laguna Beach
• Acres: 0.52

Daniel Blackwell, Jack O’Connor, and Mike O’Neill from CBRE represented both the private seller and the repeat buyer during this transaction, which was completed within 51 days after the property was listed. The deal involved a 1031 exchange, indicating the buyer's reinvestment strategy.