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    150 Cress Street Laguna Beach, CA 92651-

    7,995,000

    General Information
    • Status: Active
    • Type:Multi-Family
    • Bedrooms
    • Bathrooms
    • Square feet: 3,215
    • Lot size: 7,241
    • Year built: 2007
  • Mls# OC22033324
  • Days on Market: 170
  • Units: 3
  • Acres:
  • HOA Fees:
  • Incredible Value!! Extraordinary Beach Location!! The three spectacular beach villas will generate gross income well over $450K in 2022 as vacation rentals, and these villas generated income well over $410 K in 2021. If used as long term rentals, we believe yearly gross income would exceed $360,000. The Villas offer one of the highest CAP rate of 4% along the Orange County Coastline. This gated World Class Laguna Beach residential family complex consists of 3 beautiful beach villas. Perhaps the most attractive and versatile multi-villas 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 area’s trendiest neighborhoods, the Hip district. Completely renovated and incorporating the finest materials & fixtures, each of the beach villas is worthy of the most discriminating guests or family members. Wide-plank wood & tasteful natural stone floors & shower walls, recessed lighting, crown molding & tray ceilings, stainless steel kitchen appliances, & luxurious bathrooms are only a few of the features contributing to the ambiance of casual sophistication. An expansive, multi-level courtyard features 4 fire pits & seating, with views of the ocean and spectacular sunsets. The investment & 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. Villas offer a viable 1031 exchange & enhances your great investment opportunity in one of the best & highly regarded beach City in the United States. Excellent use as a beach house for family & friends; as a second home when needed; & rent the villas as vacation rentals or long term 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 a second story to capture mesmerizing view of the Coastal line, Catalina Island, beautiful hills, & enhances value significantly.
    Features
    • Dishwasher
    • Disposal
    • Gas Oven
    • Gas Range
    • Gas Cooktop
    • Gas Water Heater
    • Microwave
    • Refrigerator
    • Water Line to Refrigerator
    • Water Purifier
    • Dishwasher
    • Disposal
    • Gas Oven
    • Gas Range
    • Gas Cooktop
    • Gas Water Heater
    • Microwave
    • Refrigerator
    • Water Line to Refrigerator
    • Water Purifier
    • Contemporary Style
    • Ceiling Fan(s)
    • Coffered Ceiling(s)
    • Copper Plumbing Full
    • Crown Molding
    • Granite Counters
    • Open Floorplan
    • Recessed Lighting
    • Wainscoting
    • Wired for Data
    • Composition Roof
    • Shingle Roof
    • Central Air Cooling
    • Electric Cooling
    • SEER Rated 16+ Cooling
    • Electric Heat
    • Fireplace(s) Heat
    • Forced Air Heat
    • Heat Pump Heat
    • Garage Faces Front
    • Garage - Single Door
    • Garage - Two Door
    • Source:CRMLS IDX
    • LA:Carl Wuestehube
    • Co-LA:
    • Listing Updated:6/20/2022 8:44:33 AM
    • LO:Tri-Star Realty,D702
    • Co-LO:
    • Database Updated:2022/08/08 14:48:39
    • SA:
    • SO:
    • Co-SA:
    • Co-SO:

    Based on information from CARETS as of 08/08/2022 07:00:00 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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