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150 Cress Street

Laguna Beach, CA 92651
  • $7,995,000
  • STATUS: ACTIVE
  • ON SITE: 93 Days
  • ID#: OC22033327
UPDATED: 17 min ago
$7,995,000
  • 8
    BEDS
  • 0.17
    ACRES
  • 5
    BATHS
  • 1
    1/2 BATHS
  • 3,215
    SQFT
  • $2,487
    $/SQFT
Type:
Single-Family Home
Built:
2007
County:

School Ratings & Info

Description

Best Value !! Best Beach Location !! Best Potential !! This gated World Class Laguna Beach residential family compound consists of 3 beautiful beach villas. Perhaps the most attractive and versatile multi-villa property currently available in the coastal area of Orange County. Nestled on an approximately 7,200 sq. ft. lot immediately adjacent to the Cress Street Beach steps, and with parking for at least 6 vehicles. It is a rare and incredible value and shines as a family complex, multiple lucrative beach villa rentals, or both. It has 3 lovely single-level villas offer a total of 8 bedrooms, 5 full baths plus a half-bath. Mixes of three villas are 2 bedrooms & 1 bath; 3 bedrooms & 2 baths; & 3 bedrooms & 2.5 baths. The compound rests a short walk or ride from restaurants and shopping in one of the areas trendiest neighborhoods, the Hip district. Completely renovated and incorporating the finest materials and fixtures, each of the beach villas is worthy of the most discriminating guests or family members. Wide-plank wood and tasteful natural stone tile floors and shower walls, recessed lighting, crown molding and tray ceilings, stainless steel kitchen appliances, and luxurious bathrooms are only a few of the features contributing to the ambiance of casual sophistication. An expansive, multi-level central courtyard features 4 fire pits and seating, with views of the ocean and spectacular sunsets. The investment and use options of this one-of-a-kind complex make it a superb prospect for immediate as well as long-term financial and tax benefits while creating a versatile oppor Best Value !! Best Beach Location !! Best Potential !! This gated World Class Laguna Beach residential family compound consists of 3 beautiful beach villas. Perhaps the most attractive and versatile multi-villa property currently available in the coastal area of Orange County. Nestled on an approximately 7,200 sq. ft. lot immediately adjacent to the Cress Street Beach steps, and with parking for at least 6 vehicles. It is a rare and incredible value and shines as a family complex, multiple lucrative beach villa rentals, or both. It has 3 lovely single-level villas offer a total of 8 bedrooms, 5 full baths plus a half-bath. Mixes of three villas are 2 bedrooms & 1 bath; 3 bedrooms & 2 baths; & 3 bedrooms & 2.5 baths. The compound rests a short walk or ride from restaurants and shopping in one of the areas trendiest neighborhoods, the Hip district. Completely renovated and incorporating the finest materials and fixtures, each of the beach villas is worthy of the most discriminating guests or family members. Wide-plank wood and tasteful natural stone tile floors and shower walls, recessed lighting, crown molding and tray ceilings, stainless steel kitchen appliances, and luxurious bathrooms are only a few of the features contributing to the ambiance of casual sophistication. An expansive, multi-level central courtyard features 4 fire pits and seating, with views of the ocean and spectacular sunsets. The investment and use options of this one-of-a-kind complex make it a superb prospect for immediate as well as long-term financial and tax benefits while creating a versatile opportunity for fiscal and personal gratification. The three spectacular beach villas generated income well over $410K in 2021 as vacation rentals, and we believe it can exceed $450K in income for 2022. If used as long term rentals, we believe yearly gross income would exceed $360,000.Villas offer a viable 1031 exchange for your investment dollars. Excellent use as a beach house for family & friends; as a second home when needed; & rent the villas as vacation rentals as needed and/or rent them as needed to supplement the income to offset property mortgage and taxes. The rare Laguna Beach short term rental license conveys with the property. Potential to add second story to capture mesmerizing view of the Coastal line, Catalina Island, beautiful hills of Laguna beach and enhance value significantly.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS, Inc. Licensed in the state of California.
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150 Cress Street Laguna Beach, CA 92651

  • Price: $7,995,000
  • Status: ACTIVE
  • On Site: 93 Days
  • Updated: 17 min ago
  • ID#: OC22033327
8
Beds
5
Baths
1
½ Baths
0.17
Acres
3,215
SQFT
$2,487
$/SQFT
2007
Built
Neighborhood:
Oc - Laguna Beach (92651)
County:
Orange
Area:
Oc - Laguna Beach (92651)
Property Description
Best Value !! Best Beach Location !! Best Potential !! This gated World Class Laguna Beach residential family compound consists of 3 beautiful beach villas. Perhaps the most attractive and versatile multi-villa property currently available in the coastal area of Orange County. Nestled on an approximately 7,200 sq. ft. lot immediately adjacent to the Cress Street Beach steps, and with parking for at least 6 vehicles. It is a rare and incredible value and shines as a family complex, multiple lucrative beach villa rentals, or both. It has 3 lovely single-level villas offer a total of 8 bedrooms, 5 full baths plus a half-bath. Mixes of three villas are 2 bedrooms & 1 bath; 3 bedrooms & 2 baths; & 3 bedrooms & 2.5 baths. The compound rests a short walk or ride from restaurants and shopping in one of the areas trendiest neighborhoods, the Hip district. Completely renovated and incorporating the finest materials and fixtures, each of the beach villas is worthy of the most discriminating guests or family members. Wide-plank wood and tasteful natural stone tile floors and shower walls, recessed lighting, crown molding and tray ceilings, stainless steel kitchen appliances, and luxurious bathrooms are only a few of the features contributing to the ambiance of casual sophistication. An expansive, multi-level central courtyard features 4 fire pits and seating, with views of the ocean and spectacular sunsets. The investment and use options of this one-of-a-kind complex make it a superb prospect for immediate as well as long-term financial and tax benefits while creating a versatile oppor Best Value !! Best Beach Location !! Best Potential !! This gated World Class Laguna Beach residential family compound consists of 3 beautiful beach villas. Perhaps the most attractive and versatile multi-villa property currently available in the coastal area of Orange County. Nestled on an approximately 7,200 sq. ft. lot immediately adjacent to the Cress Street Beach steps, and with parking for at least 6 vehicles. It is a rare and incredible value and shines as a family complex, multiple lucrative beach villa rentals, or both. It has 3 lovely single-level villas offer a total of 8 bedrooms, 5 full baths plus a half-bath. Mixes of three villas are 2 bedrooms & 1 bath; 3 bedrooms & 2 baths; & 3 bedrooms & 2.5 baths. The compound rests a short walk or ride from restaurants and shopping in one of the areas trendiest neighborhoods, the Hip district. Completely renovated and incorporating the finest materials and fixtures, each of the beach villas is worthy of the most discriminating guests or family members. Wide-plank wood and tasteful natural stone tile floors and shower walls, recessed lighting, crown molding and tray ceilings, stainless steel kitchen appliances, and luxurious bathrooms are only a few of the features contributing to the ambiance of casual sophistication. An expansive, multi-level central courtyard features 4 fire pits and seating, with views of the ocean and spectacular sunsets. The investment and use options of this one-of-a-kind complex make it a superb prospect for immediate as well as long-term financial and tax benefits while creating a versatile opportunity for fiscal and personal gratification. The three spectacular beach villas generated income well over $410K in 2021 as vacation rentals, and we believe it can exceed $450K in income for 2022. If used as long term rentals, we believe yearly gross income would exceed $360,000.Villas offer a viable 1031 exchange for your investment dollars. Excellent use as a beach house for family & friends; as a second home when needed; & rent the villas as vacation rentals as needed and/or rent them as needed to supplement the income to offset property mortgage and taxes. The rare Laguna Beach short term rental license conveys with the property. Potential to add second story to capture mesmerizing view of the Coastal line, Catalina Island, beautiful hills of Laguna beach and enhance value significantly.
Exterior Features

Exterior Wood Lot Size 4000-7499 SF Parking Non Garage Description Parking SpaceSee Remarks Parking Spaces Total 6 Patio SlabConcrete Pool N/K Residential Styles Detached Residential Unit Location No Common Walls Roof Composition Site Curbs Spa N/K View OceanPanoramicWaterCoastlineWhite Water

Interior Features

Bath Totals 6 Bedrooms Total 8 Cooling Central Forced Air Equipment Available RefrigeratorRecirculated Exhaust Fan Fireplace Fp in Living RoomGas Floor Coverings Stone Heat Equipment Forced Air Unit Interior Features Granite Counters Laundry Location Inside Searchable Rooms Living Room Stories 1 Story

Property Features

Accessibility Features None Architectural Style Cottage Assessments Unknown Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Home Owners Fees 0.0 Sales Restrictions Standard Sewer Septic Sewer Paid Terms CashCash To New Loan Units In Complex 1 Utilities Sewer Connected Water Public

San Diego MLS logo Listing provided courtesy of Tri-Star Realty. Listing information © 2022 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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Pacific Palace Realty, Inc.
1395 Caminito Gabaldon Unit F
San Diego CA, 92108