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150 Cress Street Laguna Beach, CA 92651
$7,995,000
8 beds
5.5 baths
3,483 sq ft

Property listed by Tri-Star Realty, Carl Wuestehube. IDX Contact: 800-621-4258

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David Csira

David Csira

Founder

DRE# 01491451

Property Description

Incredible Value! Spectacular 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 property with versatile options such as a family complex, multiple lucrative income producing beach villas, or both. It offers 3 lovely single-level villas which include a total of 8 bedrooms, 5 full baths plus a half-bath. Mixes of three villas include 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 villas generated income well over $400K in 2021, and we believe income can exceed over $450K in 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 Details & Features

Property Type

  • Single Family Residence

Year Built

  • 2007

Schools

  • Laguna Beach Unified

Appliances and Equipment

  • Built-In Range
  • Barbecue
  • Convection Oven
  • Dishwasher
  • Exhaust Fan
  • Freezer
  • Gas Cooktop
  • Gas Oven
  • Ice Maker
  • Microwave
  • Refrigerator

Bathrooms

  • 1 half bathroom
  • 5 full bathrooms
  • 6 total bathrooms
  • 3 bathrooms on main level

Bedrooms

  • 8 total bedrooms
  • 3 bedrooms on main level

House

  • 1 total stories
  • Built in 2007
  • Stories: 1
  • 3,483 sqft living area
  • Cottage
  • No Common Walls
  • Wood Siding
  • One
  • Concrete
  • Open
  • Patio
  • House

Community

  • Curbs

Cooling

  • Central Air

Disclosures

  • Conditional Use Permit

Doors

  • French Doors

Fence

  • Wrought Iron

Fireplaces

  • Gas
  • Living Room

Floors

  • Stone

Heating

  • Central

Interior Features

  • Ceiling Fan(s)
  • Furnished
  • Granite Counters
  • Recessed Lighting
  • All Bedrooms Down

Laundry

  • Inside

Listing

  • Listing ID: OC22166113
  • Property Subtype: Single Family Residence
  • 57 days on market
  • Listed on 2022-07-28

Location

  • County: Orange
  • Subdivision: The Village (VIL)

Lot

  • 7241 sqft
  • 0.1662 acres
  • Area: 7241
  • 0-1 Unit/Acre

Parking

  • 2 open parking spaces
  • 2 total parking spaces
  • One Space

Property

  • Single unit
  • Coastline
  • Ocean
  • Panoramic
  • Water

Roof

  • Composition

Schools

  • High School District: Laguna Beach Unified

Security System

  • Smoke Detector(s)

Sewer

  • Sewer Tap Paid

Utilities

  • Cable Available
  • Electricity Available
  • Natural Gas Available
  • Sewer Connected
  • Water Available

Windows

  • Custom Covering(s)

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