Laguna Lido
48-unit Laguna Beach conversion
48
Total Units
Significant
Value Increase
N/A
Year Converted
CA
State
Property Details
Unit Types
N/A
Underlying Mortgage
Including land purchase cost, fees & costs
The Transformation
From Challenges to Success
Before Conversion
The Challenges
Co-op was on leased land with no reasonable means of financing a land purchase.
Unit values as co-ops were stagnant without the same price appreciation as similar condos.
Owners were reluctant to renovate their property since it was on leased land with limited market value.
After Conversion
The Results
Land purchase fully financed through the conversion with NO CASH required from the owners.
Values doubled immediately after the conversion and have since been appreciating very rapidly.
The conversion provided over $500,000 for immediate renovation of common areas and unit owners in turn have remodeled their own condo units.
Financial Impact
Financial Impact
Results shown are from a representative unit. Individual results vary by unit size and condition.
Community Voices
What Residents Say
"Jack Boyajian and his firm were the answer to our conversion challenges as a share cooperative. For many years, we had tried to complete a conversion to condominiums with no success. Jacks intelligence, extensive knowledge and experience in the legal and financial aspects of the transaction were the key to us accomplishing our goal. We are now a Fannie Mae-approved condominium project, and are already enjoying significant increases in our property values."
Kim Marquardt, President, Laguna Lido
"The complexity of our deal was unparalleled. Jack Boyajian performed an absolutely excellent job. He covered, with great success, our financial needs, our legal problems with some dissenters, and led us to a painless conversion. I would highly recommend him because he exceeded our expectations in every single aspect. He is a very bright workaholic."
Jose Perewozki, Vice President
Property Location
Laguna Lido
31755 Coast Hwy, Laguna Beach, CA 92651
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