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150 Cress Street

Laguna Beach, CA 92651
  • $6,795,000
  • STATUS: ACTIVE
  • ON SITE: 163 Days
  • ID#: OC21098483
UPDATED: 69 min ago
$6,795,000
  • 8
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Description

Best Beach Location!! One of the Best Value along the coast of Southern California!! Best income producing property on the Beach!! See To Believe It!! This spectacular, trophy property offers three (3) world class beach villas with at least six (6) parking (very rare) nestled on a prime beachfront location in World Famous Laguna Beach. Appointed to the nines, this luxury property offers the very best in form, function and location. The three beach villas boast single level floorplans enhanced with the finest designer finishes. Spectacular outdoor spaces include 4 fire pits, multi-level conversation spaces, with incredible ocean-view verandas. Mere feet from beach access, & within walking distance of many fine restaurants & shops. Mixes of three villas are 2 bed & 1 bath; 3 bed & 2 baths: & 3 bed rooms & 2.5 baths. Or the entire family complex offers a total of 8 bed rooms and 5.5 bath rooms. Each villa has the appointments rivaling better than the most prestigious hotels in town. Excellent use as a beach house for family and friends; as a second home when needed and rent the villas as vacation rentals and/or rent them as needed to supplement the income to offset property maintenance and taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best & classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream. Take a tour and appreciate what this spectacular beachfront property offers. Best Beach Location!! One of the Best Value along the coast of Southern California!! Best income producing property on the Beach!! See To Believe It!! This spectacular, trophy property offers three (3) world class beach villas with at least six (6) parking (very rare) nestled on a prime beachfront location in World Famous Laguna Beach. Appointed to the nines, this luxury property offers the very best in form, function and location. The three beach villas boast single level floorplans enhanced with the finest designer finishes. Spectacular outdoor spaces include 4 fire pits, multi-level conversation spaces, with incredible ocean-view verandas. Mere feet from beach access, & within walking distance of many fine restaurants & shops. Mixes of three villas are 2 bed & 1 bath; 3 bed & 2 baths: & 3 bed rooms & 2.5 baths. Or the entire family complex offers a total of 8 bed rooms and 5.5 bath rooms. Each villa has the appointments rivaling better than the most prestigious hotels in town. Excellent use as a beach house for family and friends; as a second home when needed and rent the villas as vacation rentals and/or rent them as needed to supplement the income to offset property maintenance and taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best & classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream. Take a tour and appreciate what this spectacular beachfront property offers.

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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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
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150 Cress Street Laguna Beach, CA 92651

  • Price: $6,795,000
  • Status: ACTIVE
  • Updated: 69 min ago
  • ID#: OC21098483
8
Beds
0
Baths
0
½ Baths
0.17
Acres
Neighborhood:
Oc - Laguna Beach (92651)
County:
Orange
Area:
Oc - Laguna Beach (92651)
Property Description
Best Beach Location!! One of the Best Value along the coast of Southern California!! Best income producing property on the Beach!! See To Believe It!! This spectacular, trophy property offers three (3) world class beach villas with at least six (6) parking (very rare) nestled on a prime beachfront location in World Famous Laguna Beach. Appointed to the nines, this luxury property offers the very best in form, function and location. The three beach villas boast single level floorplans enhanced with the finest designer finishes. Spectacular outdoor spaces include 4 fire pits, multi-level conversation spaces, with incredible ocean-view verandas. Mere feet from beach access, & within walking distance of many fine restaurants & shops. Mixes of three villas are 2 bed & 1 bath; 3 bed & 2 baths: & 3 bed rooms & 2.5 baths. Or the entire family complex offers a total of 8 bed rooms and 5.5 bath rooms. Each villa has the appointments rivaling better than the most prestigious hotels in town. Excellent use as a beach house for family and friends; as a second home when needed and rent the villas as vacation rentals and/or rent them as needed to supplement the income to offset property maintenance and taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best & classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream. Take a tour and appreciate what this spectacular beachfront property offers. Best Beach Location!! One of the Best Value along the coast of Southern California!! Best income producing property on the Beach!! See To Believe It!! This spectacular, trophy property offers three (3) world class beach villas with at least six (6) parking (very rare) nestled on a prime beachfront location in World Famous Laguna Beach. Appointed to the nines, this luxury property offers the very best in form, function and location. The three beach villas boast single level floorplans enhanced with the finest designer finishes. Spectacular outdoor spaces include 4 fire pits, multi-level conversation spaces, with incredible ocean-view verandas. Mere feet from beach access, & within walking distance of many fine restaurants & shops. Mixes of three villas are 2 bed & 1 bath; 3 bed & 2 baths: & 3 bed rooms & 2.5 baths. Or the entire family complex offers a total of 8 bed rooms and 5.5 bath rooms. Each villa has the appointments rivaling better than the most prestigious hotels in town. Excellent use as a beach house for family and friends; as a second home when needed and rent the villas as vacation rentals and/or rent them as needed to supplement the income to offset property maintenance and taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best & classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream. Take a tour and appreciate what this spectacular beachfront property offers.
Exterior Features

Exterior StuccoWood Lot Dimensions Approx 73X100 Pool N/K Roof Composition Site Curbs Units With Patios 3

Interior Features

Heat Equipment Forced Air Unit Stories 1 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 1 Units With Cooling 10 Units With Range Oven 3 Units With Refrigerators 3 Units With Washers 3

Property Features

Actual Cap Rate 4.45 Annual Expense Actual 96300 Buildings 2 Gross Rent Multiplier Actual 17.0 Gross Scheduled Income Actual 400000 Sewer Septic Sewer Connected Terms CashSeller May Carry Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit1 Rent Actual 10700.0 Unit2 Rent Actual 10700.0 Unit3 Rent Actual 10700.0 Zoning Estimated

Listing provided courtesy of Tri-Star Realty. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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