$7,995,000 - 150 Cress Street, Laguna Beach

  • 8Beds
  • 6Baths
  • 3,483SQ. Feet
  • 0.17Acres

Best Value! Best Beach Location! Best Potential! This gated World Class Laguna Beach residential family compound consists of 3 beautiful beach villas: Laguna Vista, Cress Point and Laguna Point. 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 area’s 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. These three spectacular beach villas generated income well over $400K in 2021 as vacation rentals, and we believe it can exceed over $450K in income for 2022. Villas offer a viable 1031 exchange for your investment dollars & 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 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. Further, potential to add second story to capture mesmerizing view of Laguna Beach Coastal line, Catalina Island, beautiful hills of Laguna beach and surrounding areas.

Sales Agent

Sam SmithLaguna Beach Realtors ®Phone: 949-355-1622Cell: 949-355-1622Contact Agent Now

Essential Information

  • MLS® #:OC22166113
  • Price:$7,995,000
  • Bedrooms:8
  • Bathrooms:6.00
  • Full Baths:5
  • Half Baths:1
  • Square Footage:3,483
  • Acres:0.17
  • Year Built:2007
  • Type:Residential
  • Sub-Type:Single Family Residence
  • Style:Cottage
  • Status:Active

Community Information

  • Address:150 Cress Street
  • Area:LV - Laguna Village
  • Subdivision:The Village (VIL)
  • City:Laguna Beach
  • County:Orange
  • State:CA
  • Zip Code:92651

Amenities

  • Utilities:Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Water Available
  • Parking Spaces:2
  • Parking:One Space, See Remarks
  • Garages:One Space, See Remarks
  • View:Coastline, Ocean, Panoramic, Water
  • Pool:None

Interior

  • Interior:Stone
  • Interior Features:Ceiling Fan(s), Furnished, Granite Counters, Recessed Lighting, All Bedrooms Down
  • Appliances:Built-In Range, Barbecue, Convection Oven, Dishwasher, Freezer, Gas Cooktop, Gas Oven, Ice Maker, Microwave, Refrigerator, Exhaust Fan
  • Heating:Central
  • Cooling:Central Air
  • Fireplace:Yes
  • Fireplaces:Gas, Living Room
  • # of Stories:1
  • Stories:One

Exterior

  • Exterior:Wood Siding
  • Lot Description:0-1 Unit/Acre
  • Windows:Custom Covering(s)
  • Roof:Composition
  • Construction:Wood Siding

School Information

  • District:Laguna Beach Unified

Additional Information

  • Date Listed:July 28th, 2022
  • Days on Market:15
  • HOA Fees:0.00

Provided By: Carl Wuestehube, Tri-Star Realty.

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Based on information from California Regional Multiple Listing Service, Inc. as of August 12th, 2022 at 4:15am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.