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$8,249,000

Est. payment - /mo

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8 Beds

6 Baths

3,300 SqFt

Price Dropped by $1.2M

150 Cress Street Laguna Beach, CA 92651

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Coldwell Banker West

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Key Details

Property Type Single Family Home, Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,300 sqft

Price per Sqft $2,499

MLS Listing ID OC25149921

Bedrooms 8

Full Baths 5

Half Baths 1

HOA Y/N No

Year Built 1955

Lot Size 7,239 Sqft

Property Sub-Type Triplex

Property Description

This is an extraordinary opportunity to live steps to Cress Street Beach in world famous Laguna Beach, or a builders dream property, and build up to 6, 1500sf luxury ocean view condos, easily valued at $16,500,000 combined. Currently, there are 2 ocean view homes on 1 oversized lot. The first home is a 3 Bedroom 2.5 bath 1400sf, completely detached, single level, and the second home is an 1800sf Duplex with amazing ocean views. The 3 elegantly appointed, and fully furnished ocean-view villas, 120, 130, & 150 Cress Street are set on an expansive and meticulously hardscaped lot. Perfectly suited for an exquisite owner-occupied residence, or for the most discerning real estate investor. This remarkable property allows the owner to enjoy one of the most coveted beach house locations in Southern California, with the option to occupy both homes, or rent the duplex. What's more impressive, all 3 Villas are permitted for vacation rentals. Currently operating as an investment property, earning in excess of $400,000 annually, or perfect for the buyer that wants to live in paradise, while effortlessly earning $250,000+ from the duplex. The short term lodging permits will never expire! The centerpiece of this extraordinary ensemble, is of course, the primary villa, 150 Cress Street, it is 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 Duplex features 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, they share a separate two-car garage, accessed from an entirely different street, ensuring privacy and tranquility for the primary villa. This is a once in a lifetime opportunity. Your dream of owning a piece of paradise awaits, motivated seller, will not last long.

Location

State CA

County Orange

Area Lv - Laguna Village

Rooms

Main Level Bedrooms 3

Interior

Interior Features Bedroom on Main Level, Main Level Primary

Cooling Ductless

Fireplaces Type Family Room

Fireplace Yes

Laundry Stacked

Exterior

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Biking, Hiking

View Y/N Yes

View Ocean

Total Parking Spaces 3

Private Pool No

Building

Lot Description Corner Lot

Dwelling Type Triplex

Story 1

Entry Level One

Sewer Sewer Tap Paid

Water Public

Level or Stories One

New Construction No

Schools

School District Laguna Beach Unified

Others

Senior Community No

Tax ID 64407406

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Derek Larson California Dream Luxury Homes & Investments 949-677-4121

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Coldwell Banker West

Broker | License ID: 00889834

+1(619) 737-2126

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150 Cress Street Laguna Beach, CA 92651

Coldwell Banker West

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150 Cress Street