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Listed by Derek Larson • California Dream Luxury Homes & Investments
$ 8,249,000
Est. payment /mo
Price Dropped by $1.2M
150 Cress Street Laguna Beach, CA 92651
8 Beds
6 Baths
3,300 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $2,499
MLS Listing ID OC-25149921
Bedrooms 8
Full Baths 5
Half Baths 1
Year Built 1955
Lot Size 7,241 Sqft
Property Sub-Type Single Family Residence
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
Interior
Cooling Ductless
Fireplaces Type Family Room
Laundry Stackable
Exterior
Garage Spaces 3.0
Pool None
Community Features Biking, Hiking
View Y/N Yes
View Ocean
Building
Lot Description Corner Lot, Lot 6500-9999
Sewer Sewer Paid
Others
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