Case Study

Laguna Lido

48-unit Laguna Beach conversion

Property location

31755 Coast Hwy, Laguna Beach, CA 92651

Total Units

State

Property details

Context that shaped the conversion

These project specifics help explain why the conversion path and results differed from one building to another.

Underlying Mortgage

Including land purchase cost, fees & costs

The transformation

From constraints to outcomes

Each project began with a specific set of financing, legal, or market challenges and moved through a different path to a successful outcome.

Before conversion

The constraints

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 documented outcomes

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.

Project record

Documented project scope

The source record does not provide a complete financial return table for this project, so only verified scope details are shown.

Units Converted48

Underlying MortgageIncluding land purchase cost, fees & costs

No unknown, estimated, or unavailable values are displayed.

Community voices

What residents say

Comments from board members and owners help show how the conversion was experienced inside the community.

“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