33572 Street Of The Blue Lantern

Dana Point, CA 92629

$2,585,000
Price
9
Beds
6
Baths
4,048 Sq. Ft.
$639 / Sq. Ft.
4,048
Sq. Ft.
$639
per Sq. Ft.
a front view of a house with a garden and plants
an aerial view of residential building and parking space
a front view of a house with a garden and plants
a front view of a house with a garden and plants
an aerial view of a house with garden space and sitting space
an aerial view of a house with a yard and potted plants
a aerial view of a house
a aerial view of a house
a view of a house with a yard and plants
a front view of a house with a garden
a front view of a house with a yard and fountain
a view of a house with backyard and garden
a view of a house with backyard and sitting area
a view of a house with brick walls and a yard with potted plants

Description

33572 Blue Lantern, a charming 4-unit apartment building offering a rare opportunity to invest in one of the most sought-after rental locations within the city. Built in 1971 and situated on a larger lot, offering ample parking space in addition to the (4) garages. The subject property features spacious 2 & 3 bedroom units including 3 of the 4 units being townhouse style layouts. Owned and operated by current ownership for over 50 years, the property has been well-maintained and received many upgrades...33572 Blue Lantern, a charming 4-unit apartment building offering a rare opportunity to invest in one of the most sought-after rental locations within the city. Built in 1971 and situated on a larger lot, offering ample parking space in addition to the (4) garages. The subject property features spacious 2 & 3 bedroom units including 3 of the 4 units being townhouse style layouts. Owned and operated by current ownership for over 50 years, the property has been well-maintained and received many upgrades including newer windows, hot water heater, forced air units, washer & dryer machines and the property was fumigated approximately 1 year ago. Various upgrades to the interiors and a plethora of amenities also enhance their appeal to tenants. With a projected rental upside of ±38%, this multifamily gem presents a promising avenue for significant investment returns
  1. Listed by Rick Applebaum • DRE #01273871 • Brokerage DRE #01220368 • Morgan Skenderian • rma@morganskenderian.com
  2. Listed by Paul Espinosa • DRE #01942627 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 33572 Street Of The Blue Lantern

View
None
Parking Spaces Total
12
Private Pool
No
Total Units
4.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4048
Assessor Parcel Number
682-043-18
LISTING UPDATED: 11/04/2024 10:26 PM

Property Details for 33572 Street Of The Blue Lantern

StatusActive
MLS #PW24227021
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1971
Lot Size0.22 AC / 9,583 SF
CountyOrange County

Building Information for 33572 Street Of The Blue Lantern

Stories2Residences-Year Built1971Building Size-Lot Size0.22 AC / 9,583 SF

Property Information for 33572 Street Of The Blue Lantern

Income / Expense / Tax Details
Income Details
  • Gross Income: $123,300
  • Gross Scheduled Income: $123,300
  • Vacancy Allowance: 3699
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $119,601
  • Net Operating Income: $76,779
  • Laundry Income: $1,500
  • Gross Multiplier: 20.97
  • Cap Rate: 3.0
Expense Details
  • Operating Expense: $42,822
  • Operating Expense Percent: 34.70%
  • New Taxes Expense: $29,800
  • Gardener Expense: $1,500
  • Fuel Expense: $1,150
  • Electric Expense: $1,150
  • Insurance Expense: $2,834
  • Maintenance Expense: $3,588
  • Maintenance Percent: 3.00%
  • Other Expense: $500
  • Other Expense Description: Misc
  • Trash Expense: $1,150
  • Water Sewer Expense: $1,150
  • Total Expenses: $42,822
Tax / Assessment Info
  • Tax Tract Number: 7503
  • Tax Census Tract: 423.39
  • CFD/Mello-Roos Fee: $3,322
  • Tax Lot: 19
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Gas Range, Microwave, Water Heater Central
  • Equipment: Community, Dishwasher, Microwave
  • Interior Features: Ceiling Fan(s), Stone Counters
  • Water Heater Features: Central Water Heater
  • Laundry: Yes
  • Laundry Features: Community
  • Laundry Equipment Own Lease: Own
  • Heating Type: Forced Air
  • Heating: Forced Air
  • Heat Equipment: Forced Air Unit
  • Flooring: Tile, Vinyl
Exterior Features
  • Entry Location: 1
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Front Yard, Landscaped, Lot 6500-9999, Sprinkler System
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,200
  • Unit Type Total Rent: $2,220
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,700
  • Unit Type Total Rent: $1,700
  • Unit Type Pro Forma: 3400
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,750
  • Unit Type Total Rent: $2,750
  • Unit Type Pro Forma: 3400
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,500
  • Unit Type Total Rent: $3,500
  • Unit Type Pro Forma: 4250
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 4
  • Number With Range: 4

Property History for 33572 Street Of The Blue Lantern

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 33572 Street Of The Blue Lantern

Taxable ValueLand$50,444Additions$132,142Total$182,586
Tax Record2024$5,501 ($458 / month)
Home Facts
Total Finished SqFt3,036 SqFtAbove Grade Finished SqFt3,036 SqFtStories2Lot Size9,577 SqFtStyleQuadraplexYear Built1971CountyORANGEAPN682-043-18

Schools near 33572 Street Of The Blue Lantern

This home is within Capistrano Unified School District.
Rating
School
Type
Grades
Distance
Richard Henry Dana Elementary School
Public - K to 5
Marco Forster Middle School
Public - 6 to 8
Dana Hills High School
Public - 9 to 12
Richard Henry Dana Exceptional Needs School
Public - K to 6
Rating
School
Distance
Richard Henry Dana Elementary School
PublicK to 5

Marco Forster Middle School
Public6 to 8

Dana Hills High School
Public9 to 12

Richard Henry Dana Exceptional Needs School
PublicK to 6

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.

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More information about 33572 Street Of The Blue Lantern, Dana Point, CA 92629

33572 Street Of The Blue Lantern is a multi-family home for sale in Dana Point, CA 92629. This property was listed for sale on November 4, 2024 by Morgan Skenderian, it's currently listed at $2,585,000. This listing's school district is Capistrano Unified School District. Nearby schools include Richard Henry Dana Elementary School, Marco Forster Middle School and Dana Hills High School. 33572 Street Of The Blue Lantern is a 9-bed, 6-bath, 4,048 sqft multi-family home built in 1971.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Morgan Skenderian, Rick Applebaum, DRE #01273871; Morgan Skenderian, Paul Espinosa, DRE #01942627

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.