Price $7,995,000
Status Active
Beds 8
Baths 6 Baths
Home size 3,483 sqft
Lot Size 7,240 sqft
Days on Market 22
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.
Property Type(s): Single Family
Last Updated 7/28/2022 Tract The Village (VIL)
Year Built 2007 Community Laguna Village
County Orange

SCHOOLS

School District Laguna Beach Unified

Additional Details

AIR Central Air
AIR CONDITIONING Yes
APPLIANCES Barbecue, Built-In Range, Convection Oven, Dishwasher, Exhaust Fan, Freezer, Gas Cooktop, Gas Oven, Ice Maker, Microwave, Refrigerator
AREA Laguna Village
CONSTRUCTION Wood Siding
FIREPLACE Yes
GARAGE One Space, See Remarks
HEAT Central
HOA DUES 0
INTERIOR All Bedrooms Down, Ceiling Fan(s), Furnished, Granite Counters, Recessed Lighting
LOT 7241 sq ft
LOT DESCRIPTION 0-1 Unit/Acre
PARKING One Space,See Remarks
POOL DESCRIPTION None
SEWER Sewer Tap Paid
STORIES 1
STYLE Cottage
SUBDIVISION The Village (VIL)
UTILITIES Cable Available,Electricity Available,Natural Gas Available,Sewer Connected,Water Available
VIEW Yes
VIEW DESCRIPTION Coastline,Ocean,Panoramic,Water
WATER Public

Location

 

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Listing provided by : Carl Wuestehube CalDRE: 00634943 | 800-621-4258, Tri-Star Realty

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