252 Chiquita, Laguna Beach, California 92651, Laguna Beach, 92651 - 5 bed, 3 bath
ACTIVE$3,395,000$2,097/sqft
252 Chiquita, Laguna Beach, California 92651
5Beds
3Baths
2,097Sqft
4,356Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location & Panoramic Views: Situated in a prized North Laguna locale, the property offers a rare blend of beach and village proximity, coupled with panoramic ocean, Catalina Island, and city lights views from multiple units.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4356, other record lot size in square feet = 4500. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2097, other record living area = 980. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Compared to the nearby listings
Price:$3.40M vs avg $2.50M (+$895,000)93%
Size:2,097 sqft vs avg 2,000 sqft53%
Price/sqft:$1.6K vs avg $1.3K93%
More Insights
Built in 1940 (86 years old).
Condition: Built in 1940, this triplex shows a mix of conditions. The front cottage features a recently updated kitchen and bathroom with modern finishes, new appliances, and good quality flooring. The other units, while clean and functional, exhibit older styles in their kitchens and bathrooms (likely 15-25 years old) and some older heating systems (e.g., wall heaters). Overall, the property is move-in ready with no immediate major renovations required, and recent improvements enhance its appeal, aligning with a 'Good' condition score despite its age and varied unit updates.
Year Built
1940
Close
-
List price
$3.4M
Original List price
$3.4M
Price/Sqft
$1,619
HOA
-
Days on market
-
Sold On
-
MLS number
LG26009733
Home ConditionGood
Features
Excellent View: City Lights, Ocean
Deck
Patio
ViewCity Lights,Ocean
About this home
Anchored by a classic Laguna ocean view cottage, the triplex at 252 and 254 Chiquita Street offers a rare blend of views, beach and village proximity, wonderful outdoor space, and a special dash of appealing charm. The unit mix is superb - the two bedroom front vintage cottage with coastal views, a spacious two bedroom rear upper with panoramic ocean and prized Catalina Island views, and a one bedroom rear lower unit with incredible rentability. The configuration provides flexibility for an owner-user, a vacation home with passive income, and even delivers a‘better-than-most’ Laguna Beach cap rate for an investor. Two alley garages, an alley parking apron, and an off-street parking pad in the front provide the critical parking usually lacking in beach-close properties. Recent improvements by the current owner have improved amenities and rentability. 252 Chiquita is a special offering in a prized Laguna Beach locale!
M
Michael Johnson
Listing Agent
Price History
Date
Event
Price
11/01/21
Sold
$2,800,000
06/17/04
Sold
$1,050,000
Condition Rating
Good
Built in 1940, this triplex shows a mix of conditions. The front cottage features a recently updated kitchen and bathroom with modern finishes, new appliances, and good quality flooring. The other units, while clean and functional, exhibit older styles in their kitchens and bathrooms (likely 15-25 years old) and some older heating systems (e.g., wall heaters). Overall, the property is move-in ready with no immediate major renovations required, and recent improvements enhance its appeal, aligning with a 'Good' condition score despite its age and varied unit updates.
Pros & Cons
Pros
Prime Location & Panoramic Views: Situated in a prized North Laguna locale, the property offers a rare blend of beach and village proximity, coupled with panoramic ocean, Catalina Island, and city lights views from multiple units.
Versatile Income-Generating Triplex: As a triplex with a superb unit mix (two 2-bedroom units and one 1-bedroom unit), it provides exceptional flexibility for an owner-user, a vacation home with passive income, or an investor seeking a 'better-than-most' Laguna Beach cap rate.
Ample & Critical Parking: The property boasts two alley garages, an alley parking apron, and an off-street parking pad, addressing the critical parking shortage often found in beach-close properties.
Charming & Improved Property: Anchored by a classic vintage cottage, the property exudes appealing charm, complemented by recent improvements that have enhanced amenities and rentability across the units.
High Rentability & Investment Potential: The unit configuration, particularly the 1-bedroom rear lower unit, offers incredible rentability, making it an attractive asset for generating consistent passive income.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4356, other record lot size in square feet = 4500. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2097, other record living area = 980. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Property Age & Potential for System Updates: Built in 1940, despite recent improvements, the property's age may imply underlying infrastructure (e.g., plumbing, electrical, HVAC) that could require significant future capital expenditures beyond cosmetic updates.
Complex Multi-Unit Management: Managing a triplex involves greater complexity than a single-family home, including tenant relations, lease management, and coordinating maintenance across multiple units, which may require more time and effort from an owner.
Premium Price Point: The list price of $3.395 million, while justified by its prime location and income potential, represents a substantial investment that may limit the pool of potential buyers.