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    150 Cress Street

    Laguna Beach, CA 92651
    • $6,495,000
    • STATUS: Active
    • ON SITE: 144 days
    • ID#: LG20242549
    UPDATED: 15 min ago
    $6,495,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,415
      SQFT
    • $1,902
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2007
    County:

    School Ratings & Info

    Description

    This gated Laguna Beach residential compound, +G+Laguna Vista,+G- is perhaps the most attractive and versatile multi-unit property currently available in the Orange County real estate market. 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 possible family complex, multiple lucrative beach rentals, or both. Its 3 lovely single-level villas offer a total of 8 bedrooms, 5 full baths plus a half-bath. The compound rests a short walk or ride from restaurants and shopping in one of the area+GGs trendiest neighborhoods. Completely renovated and incorporating the finest materials and fixtures, each of the homes is worthy of the most discriminating guests or family members. Wide-plank wood and tasteful tile floors, recessed lighting, crown molding and tray ceilings, high-end stainless 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 compound 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. Rare Laguna Beach short term rental license.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-13T11:25:33.267. 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 deemed reliable but is not guaranteed accurate by the MLS or Realty Masters & Associates. Licensed in the State of California, USA.
    www.mckeeregroup.com/homes/112030237
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    150 Cress Street Laguna Beach, CA 92651

    • Price: $6,495,000
    • Status: Active
    • Updated: 15 min ago
    • ID#: LG20242549
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,415
    SQFT
    $1,902
    $/SQFT
    2007
    Built
    Neighborhood:
    Main Beach (Bch)
    County:
    Orange
    Area:
    LV - Laguna Village
    Property Description
    This gated Laguna Beach residential compound, +G+Laguna Vista,+G- is perhaps the most attractive and versatile multi-unit property currently available in the Orange County real estate market. 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 possible family complex, multiple lucrative beach rentals, or both. Its 3 lovely single-level villas offer a total of 8 bedrooms, 5 full baths plus a half-bath. The compound rests a short walk or ride from restaurants and shopping in one of the area+GGs trendiest neighborhoods. Completely renovated and incorporating the finest materials and fixtures, each of the homes is worthy of the most discriminating guests or family members. Wide-plank wood and tasteful tile floors, recessed lighting, crown molding and tray ceilings, high-end stainless 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 compound 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. Rare Laguna Beach short term rental license.
    Exterior Features

    Architectural Style Contemporary Construction Materials StuccoWood Siding Garage Spaces 3.00 Lot Features Bluff Lot Size Dimensions 72X100 Lot Size Units Square Feet Parking Features Garage Faces FrontGarage - Single DoorGarage - Two Door Parking Total 6.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof CompositionShingle Uncovered Spaces 3.00 View OceanWhite Water View YN Yes Waterfront Features Ocean Side Of Freeway

    Interior Features

    Appliances DishwasherDisposalMicrowaveRefrigeratorWater Purifier Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Door Features Mirror Closet Door(S) Fireplace Features ElectricWood BurningFire Pit Fireplace YN Yes Flooring StoneWood Heating Forced Air Heating YN Yes Interior Features Coffered Ceiling(S)Crown MoldingGranite CountersOpen FloorplanRecessed Lighting Laundry Features Dryer IncludedWasher Included Levels One Window Features Double Pane Windows

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cable Tv Expense 2850.00 Cap Rate 3.20 Community Features Curbs Country Us Electric Expense 3650.00 Elevation Units Feet Exclusions Furnishings Fuel Expense 1040.00 Furniture Replacement Expense 0.00 Gardener Expense 1200.00 Gross Income 0.00 Gross Multiplier 20.22 Gross Operating Income 316600.00 Gross Scheduled Income 340600.00 Insurance Expense 3000.00 Land Lease YN No Laundry YN Yes Licenses Expense 250.00 Maintenance Expense 3100.00 Maintenance Percent 0.00 Net Operating Income 316600.00 New Construction YN No New Taxes Expense 78000.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Wall AC 10 Number With Dishwasher 3 Number With Disposal 3 Number With Drapes 3 Number With Refrigerator 3 Operating Expense 0.00 Other Expense 0.00 Other Expense Description 0 Pest Control Expense 300.00 Professional Management Expense 0.00 Property Condition Turnkey Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Main Beach (Bch) Supplies Expense 2800.00 Total Expenses 24000.00 Trash Expense 0.00 Utilities Sewer Connected Water Sewer Expense 1850.00 Water Source Public Workmans Compensation Expense 0.00 Year Built Source Estimated

    Listing provided courtesy of Seth Nelson of Douglas Elliman Of California, Inc. and Ariana Gaffoglio of Douglas Elliman Of California,


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-13T11:25:33.267. 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 deemed reliable but is not guaranteed accurate by the MLS or Realty Masters & Associates. Licensed in the State of California, USA.
     
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