Tag Archives: 25131 Terrace Lantern

25131 Terrace Lantern

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
$435,000

home 1 home 2

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.