34011 Ruby Lantern Street
About This Property
One mile from the world famous Dana Point Harbor. City has ear marked $200 million for the harbor renovation. The home just behind this lot sold for over $2 million. A great opportunity to build your dream Single Family Home or Single Family Home with "accessory dwelling unit" (ADU) . Lot dimensions are 4,850 Sq Ft, Lot is 50 ft Frontage x 100 ft Depth. A pleasant short walk to dinner or the harbor from the ideal location. This is one of the last vacant lots in the lantern district! This lot was appraised in 2010 for $700,000. The present day value should greatly exceed this appraisal.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 7, 2025 | Sold | ||
| Sold | |||
| Mar 7, 2025 | In contract | - | |
| In contract | |||
| Nov 26, 2024 | Listed by Engel & Volkers Dana Point | $1,600,000 | |
| Listed by Engel & Volkers Dana Point | |||
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This is an investor's dream: a parcel ready to build, creating the perfect scenario for immediate development and quick turnaround. Choose to bring your own builder to realize this project, or discuss the option of having the seller undertake the construction. Seize the opportunity to own a prime piece of coastal California real estate at 34011 Ruby Lantern Street, Dana Point. This exclusive 4,792 square foot plot of land is not just any property—it's a street-to-street lot that promises breathtaking ocean views and is fully prepared for immediate development.
The land comes with approved plans to construct a stunning 2,229 square foot main house accompanied by a generous 1,200 square foot Accessory Dwelling Unit (ADU). Envision the main house as a luxurious abode featuring 4 bedrooms and 4.5 bathrooms, complete with a two-car garage. This design includes not one, but two ocean view balconies where you can relish the serene vistas of the Pacific.
The well-designed ADU offers substantial living space with 3 bedrooms and 3 bathrooms, also boasting a two-car garage for added convenience. The standout feature of the ADU is the 191 square foot Ocean View upper deck, offering an exclusive ocean view that's sure to captivate. Each structure is accessible from separate streets, offering both privacy and flexibility.
just moments from the soon to be updated Dana Point Harbor that will be the Jewel of Dana Point and downtown Laguna beach, premier shopping, restaurants, and an array of beautiful beaches, 5 Star Resorts, Golfing, Tennis and Surfing.
Don't miss out on this rare chance to develop in Dana Point, an area renowned for its high desirability and strong investment returns. This is where luxury living meets the charm of the seaside. Dive into this unique opportunity at 34011 Ruby Lantern Street, where the canvas awaits your vision to create an extraordinary residential showcase. Pictures of the house and ADU are renderings. Property is also available as a new construction sale New Build MLS# OC25003617
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| Nov 20, 2021 | No longer available | - | |
| No longer available | |||
| Sep 28, 2021 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017