2-Unit Residential Income
For Sale
Contact for pricing
Pending
295 Wave, Laguna Beach, CA 92651
Laguna Beach, CA
Property Size1,000 SF
Lot Size0.10 Acres
Days on Market132
Property Features for 295 Wave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Laundry Room
Parking
1
Parking features
Garage, Driveway
Pets allowed
Call
Appliances
Microwave, Refrigerator, Gas Range, Dishwasher
Subdivision
North Laguna (NL)
Lot features
Corner Lot, Level with Street, Front Yard, Sprinkler System, Lawn, Yard
Elementary school district
Laguna Beach Unified
Middle school district
Laguna Beach Unified
High school district
Laguna Beach Unified
Directions
PCH to Wave St.
Standard status
Pending
APN
05314327
Size
1,000 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1948
Floors in Building
1
Number of units
1
Architectural style
Cottage
Listing Agency:
Pacific Sterling Properties
Listed By:
Nancy Domino · License #00614150
(949) 400-2980
Added: Jun 20
Changed: Oct 28
Last Checked: Oct 29 at 3:06PM
MLS# OC26135081
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property is a 1,000-square-foot lower-level residence within a two-unit building. Its two-bedroom, two-bathroom layout has been remodeled, with luxury vinyl plank flooring and a kitchen featuring white cabinetry, quartzite countertops, and stainless steel appliances. The home was built in 1948 and has a cottage architectural style. A wall furnace provides heating, and parking includes a driveway and garage.
The property is in Laguna Beach, a short walk from Shaw's Cove. Public water and sewer serve the residence.
The property is in Laguna Beach, a short walk from Shaw's Cove. Public water and sewer serve the residence.
Key Highlights
- 1,000‑square‑foot lower‑level residence in a two‑unit building
- Two bedrooms and two bathrooms
- Remodeled kitchen with quartzite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,087
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,740
$381.7K
Cap Rate 7%
$272,671
$272.7K
Cap Rate 9%
$212,078
$212.1K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$36.0K $36.00/SF
− Vacancy
−$1.3K −$1.30/SF
EGI
$34.7K $34.70/SF
− OpEx
−$15.6K −$15.62/SF
NOI
$19.1K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,740
Cap Rate 7%
$272,671
Cap Rate 9%
$212,078
Alternative Uses
Best Use
Apartment 5plus
$272.7K
$238.6K – $318.1K
NOI $19,087 @ 7.0% cap · market cap 465.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.9K
$293.9K – $391.9K
NOI $23,512 @ 7.0% cap · market cap 573.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
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Business Placement
Demographics for 92651, CA
24,096
Population
13,913
Households
1.7
Avg Household Size
52
Median Age
68%
College-Educated
98%
High-School Grad
22.1 sq mi
ZIP Area
1,090
Density / Sq Mi
$143,569
Median Household Income
$77,830
Median Earnings
$2,812
Median Rent
$2,000,001
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The lower-level residence has a remodeled interior, two bedrooms, and two bathrooms.
Where is this residential income property located?
The property is located at 295 Wave Laguna Beach, CA.
What are key features of this property?
This property features: 1,000‑square‑foot lower‑level residence in a two‑unit building; Two bedrooms and two bathrooms; Remodeled kitchen with quartzite countertops and stainless steel appliances
