Homes for sale - 150 Cress Street, Laguna Beach, CA 92651

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Martina McKinney

martinamckinney@compass.com +1(619) 717-0306

$ 6,994,950

Est. payment | -/mo

8 Beds

7,241 Sqft Lot

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$ 6,994,950

Est. payment | -/mo

Save Virtual Tour

8 Beds

7,241 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active Under Contract

Purchase Type For Sale

Subdivision The Village (Vil)

MLS Listing ID OC25233819

Bedrooms 8

Lot Size 7,241 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

PRICED TO SELL! PERMITTED VACATION RENTAL TRIPLEX STEPS TO CRESS STREET BEACH WITH INCREDIBLE OCEAN VIEWS, OR AMAZING DEVELOPMENT OPPORTUNITY! Cap rate is 6.47% as-is with room for growth! This is a fully furnished, one-of-a-kind investment property located at one of the most desirable locations in all of Laguna Beach! Presenting the Villas of Laguna Vista. Ideal configuration across 2 individual buildings, on a fully hardscaped 7500sf sf lot, with parking for up to 6 cars. With a 12 year history on AirBNB and VRBO, this property effortlessly fills 65% occupancy each year, and routinely earns $450,000 annually. The potential to see income soar to $525,000+ is certainly within reach, as vacation rental occupancy can routinely reach 75-80% in this highly sought, and world famous travel destination. Few properties can offer options for development, personal use, and high level income, simultaneously. That is correct, this property can be enjoyed by the owner, friends, and family, anytime, year-round, while still earning $450,000 every year! Includes a single family residence style villa, and completely separate duplex style villas, right at the doorstep of Cress Street Beach. The centerpiece of this extraordinary ensemble is the primary villa, a sophisticated single-level residence offering 3 spacious bedrooms and 2.5 opulent baths. This villa includes a private 1-car garage and a gated driveway accommodating up to 3 vehicles. The additional 2 villas are a 3 bedroom and 2 bath, and a 2 bedroom with 1 bath, they share a 2-car garage, accessible from Oceanfront street, ensuring

Location

State CA

County Orange

Zoning Assessor

Direction From South Coast Highway, turn toward ocean, last property on right by Cress Street Beach staircase

Interior

Fireplace No

Exterior

Utilities Available Sewer Connected

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 64407406

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.wellcomemat.com/video/5dkq35849c071mcgu/LB/CA/92651/Cress/OC25233819/

Listed by Derek Larson California Dream Luxury Homes & Investments

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Martina McKinney

REALTOR® | Lic# 02053849

martinamckinney@compass.com

+1(619) 717-0306

2860 El Camino Real #100, San Diego, CA, 99124

150 Cress Street Laguna Beach, CA 92651

Martina McKinney

Key Details

Location

Interior

Exterior

Building

Others

150 Cress Street