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Avison Young arranges the sale of The Gallery, a 10-unit mixed-use property in Laguna Beach, CA

Avison Young arranges the sale of The Gallery, a 10-unit mixed-use property in Laguna Beach, CA 3 Sep 2021

Irvine, CA – Avison Young announced today it has arranged the sale of The Gallery, a 10-unit mixed-use property located at 326-336 North Coast Highway in Laguna Beach, CA (Orange County). The property consists of seven apartments units and three commercial spaces. Two of the commercial spaces and two of the apartments were occupied at closing.  

Avison Young Principal Peter Hauser and Associate Matthew Hauser represented the seller, a private investor from Florida who had owned the property for over 30 years, and the buyer, a Laguna Beach-based private investor who owns other local properties.  

“This transaction was truly gratifying. We were able to locate an ideal buyer who understood the significance of the property’s location, its potential for long-term appreciation, and had a clear vision for its renovation,” said Peter Hauser.

The details of the renovation include conversation back to the asset’s original 14-unit design consisting of 11 apartments and three commercial spaces; new roof; exterior renovations; and apartment unit improvements including adding washer/dryers, quartz countertops, cabinets, vinyl plank flooring, and a stainless appliance package.

Built in 1954, The Gallery is a rare mixed-use property with the residential units featuring partial ocean views (from select units), common area decks and large balconies. It is conveniently situated in one of North Laguna’s top retail locations and is within walking distance to beaches, popular restaurants, retail shops. hiking trails and luxury hotels.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.

 

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For more information:

Peter Hauser, Principal +949.430.0687