The South Cove development is well on it's way with many of the first built condos having been sold. As we see with many new developments throughout Dana Point once owners have purchased these new homes we start to see those same properties come up for lease. These are typically from real estate investors who bought these properties as an investment property for the sole purpose of renting them out. This makes a lot of sense sense the location is extremely close to the beach and Dana Point harbor which points to holding it's value for a long period of time.
Rental prices for the South Cove don't come cheap as you are paying a premium for this beach close location and the newer constructions. Current rental rates start at $4,250 for a 3 bedroom condo with 1,706 square feet. This is one of my favorite floor plans that feature a ground level work space, roof top deck with views of the ocean and retractable glass doors between the living room and outdoor patio space making it one large gathering spot. This is available for a long term lease of 12 months and comes unfurnished. There are other options available on a month-to-month basis with a minimum 30 day rental.
The most expensive option is another 3 bedroom unit with 2,126 square feet that is listed for $7,500 a month. This also features a roof top deck and high end finishes so it will be interesting to see what the maximum renters are willing to pay for this location. Up until now there have been 3 properties that have leased between $3,000 to $5,500 for a short term lease and one other long term 12 month rental at $3,800 a month. If you are thinking about leasing out your South Cove condo please contact our local Dana Point Real Estate agents at 949-606-4114.