Opportunity knocks for individuals looking for an investment property near the ocean. Well maintained fourplex with excellent rental potential, located in the highly-desired Lantern District. Perfect for the beach mentality; a resident of the building can hop on a beach cruiser and end up at the harbor in 5 minutes or head down to coffee shops, yoga studios, grocery stores or local restaurants and bars located along the famous PCH highway.

The fourplex is located on a quiet street: La Paz Avenue just East of Golden Lantern Street. Mature producing pepper trees line the property along with weeping bottle brush trees adding to the curb appeal of the property. A cobblestone driveway leads to private, subterranean garages for each unit. An additional versatile bonus space offers plenty of storage for an owner. The space could also be another source of revenue by adding additional storage for residents to rent for bikes, surfboards, etc.

Each of the four units is a two-story townhouse with powder room, living spaces and kitchen downstairs. All have an updated open floor plan, skylights and windows that allow for lots of natural light, two bedrooms with large closets, bathroom with shower/tub combo and washer/dryer hookups located upstairs. Downstairs, glass sliding doors lead to a large private outdoor space that is great for entertaining. The space has lots of potential for beautiful landscaping or private gardens. 

Dana Point also has a world famous surfing history and was home to many of the first companies that produced products for surfing. Hobie Alter opened the world's first retail surf shop in Dana Point in 1954. Many surf publications such as the Surfer's Journal and Surfer Magazine were formed and headquartered in Dana Point. Bruce Brown produced the iconic surfer film Endless Summer in Dana Point.


          Records show the property was once owned by Los Angeles Times publisher Harry Chandler and General M. H. Sherman who were responsible for developing what is known today as the Hollywood Hills (and the Hollywood sign, Hollywood Bowl, etc). In 1926, Woodruff, Chandler, and Sherman created the Dana Point Syndicate. They invited other investors, company presidents, movie producers and real estate investors to join them in purchasing 1,388 acres of land, some of which include the "Headlands" of today. Promising tree-lined and paved streets, electricity, telephones, sidewalks, water mains, storm drains, sewers, and other amenities, Woodruff built 35 homes and a number of commercial buildings. Most of these houses are concentrated in the Dana Point historic core, also called Lantern Village (currently about 12,000+ residents). The streets are named after different colored lanterns—Street of the Violet Lantern, Blue Lantern, etc.—because colored lanterns were used by ships 200 years ago to advertise their fares when in the Dana Point natural harbor. 

*Units are not rent-controlled and are currently under market value. Two of the four units are month-to-month, one unit is vacant and the last has a lease that expires 07/05/2017 which then converts to month-to-month. 
* Trust sale and property is sold as-is


LINK TO: DANA POINT LANTERN DISTRICT BUSINESSES

LINK TO: LANDLORD/TENANT | FAIR HOUSING IN ORANGE COUNTY

Dana Point Harbor
The harbor, built in the 1960s and dedicated on July 31, 1971, is home to a marina, shops, and restaurants, and it is a point of departure for the Catalina Express, a transportation service to and from the City of Avalon on Catalina Island. The entire harbor of Dana Point, including the Embarcadero Marina shops and restaurants are set for complete demolition and redevelopment. The current vintage nautical style is being abandoned for a Tech Minimalist concept using metal roofs as well as Minimalist landscaping.

Strands
The Strands at Headlands is a luxury housing development built on land that was originally part of the Chandler Family holdings. For decades the land facing the beach was home to the Dana Strand Beach and Tennis Club,^[11] a mobile home community that closed in the late 1980s. For years, access to the Strands beach was limited to hiking down a dirt trail where the mobile homes had stood. The Strands parcel included the actual headlands and bluff of Dana Point as well and was one of the last large coast properties available for development along the Orange County Coast. During the course of a ten-year approval process, the original high density plan, which included a large multi-story hotel on the bluff top and hundreds of houses and multi-family units, was reduced in scope to just over 100 home sites. As part of negotiations with the California Coastal Commission, the developer agreed to turn the bluff into a nature preserve and build over $11 million worth of public improvements to provide easier access to the Strands Beach. The improvements include stairs, restrooms, a beach-front sidewalk and a funicular to transport visitors from the parking lot to the beach. After extensive infrastructure construction, lots were offered for sale in the fall of 2006. Lots in the development are rectangular with modern houses commonly priced above $10,000,000. The development has provided much easier access to the beach below and has allowed surfers and other beach visitors to access the beach quickly and easily. Strands Homeowners, through a Mello-Roos assessment, pay for the upkeep of the beach improvements.

Capistrano Beach
 In 1928, a corporate entity of the American industrial giant Edward Doheny, who had built his fortune in oil production in Southern California and Mexico, purchased a number of lots in Capistrano Beach. Doheny's son, Ned, formed a development company, the Capistrano Beach Company, which included his wife's twin brothers, Clark and Warren Smith, and Luther Eldridge, a contractor, to build a community of Spanish style houses. According to Dana Point historians Baum and Burnes,* Eldridge favored two dominant characteristics in his homes, a typically Spanish roof line and the use of large ceiling beams in the main rooms of the houses. The roofline, covered with red ceramic tiles, incorporated a low-pitched gable, spreading out to one short and one long roof. The ceiling beams were decorated with stenciled artwork painted by artist Alex Meston. Eldridge was able to complete the original Doheny family house on the bluffs, four houses on the beach, and 18 other homes scattered throughout the area before tragedy struck the ambitious project. Edward Doheny was preparing for his criminal trial for bribery in the Teapot Dome Scandal, and on February 16, 1929, Ned Doheny and, Hugh Plunkett, his friend and secretary, who were to testify in the trial, were killed in a murder that still remains unsolved. In 1931, as a memorial to Ned, Petroleum Securities Company, Doheny's family-owned business, made a gift of 41.4 acres (168,000 m²) to the State of California, which is now Doheny State Beach. The unimproved Capistrano Beach properties passed back to Edward Doheny, and, upon his death in 1935, to his wife and heirs. By 1944, all of the properties had been sold to private parties.

The Doheny family also funded the building of what was then called St. Edward's Chapel in Capistrano Beach. The chapel soon grew, received canonical status as a parish, and moved to its current bluff-top location in Dana Point, overlooking Doheny State Beach.

Marine life
One of the very few known specimens of the megamouth shark was caught off Dana Point in 1990. Visitors can visit the Ocean Institute at the harbor below the point and the tidal pools located nearby for a closeup view of marine life during low tide. With the kelp beds located just offshore, Dana Point is a popular destination for snorkelers, fisherman, and spear fishers.

 

• Great rental potential
• Well maintained grounds
• Mature pepper trees and weeping bottle brush trees
• Large private two-car garage for each unit
• Cobblestone driveway
• Parking for eight vehicles 
• Two-story townhouse style units
• 2 bed / 1.5 bath units 
• Bright units with skylights that allow for natural light
• Hardwood floors
• Open floorplans
• Outdoor spaces for entertaining
• Large closets
• Laundry in-unit
• Bike 5 minutes to the harbor
• Miniutes away from shopping, coffeeshops, restaurants, gyms/yogas, and surfing
• First time on the market in 47 years

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