This week’s listing is in the heart of Dana Point’s coveted Lantern District. The price was reduced recently so it won’t last long.
25131 Terrace Lantern
2 bed, 2 bath
1,062 square feet
Here’s why I think this is a great buy:
- Location, location, location: It’s walking distance to the recently renovated Lantern District, Doheny State Beach, and Dana Point Harbor. There aren’t many homes that are truly walking distance to all those amenities
- With Harbor renovations starting soon, this area is going to be even more desirable for full-time residents and renters alike
- Because this area is so desirable, the inventory is low. You won’t see many properties come up for sale
- The price per square foot ($409.60) is relatively low compared to other units that have sold in the past year
- The unit has private decks on both floors and private, covered parking for 2 cars (this is great because parking in this area will get tougher as the renovations continue and more people visit)
- HOAs are steep ($449), BUT they include cable TV (this is rare), water, sewer, and trash
- The inside needs some updating, but I see that as an opportunity to make this place your own. The location can’t be beat, so it’s all about focusing on renovating to your taste
- If you’re an investor, the projected rent for this unit would be about $2,300, which should more than cover mortgage and other expenses
Want to check it out? Contact me today.