150 Cress Street

Laguna Beach , CA 92651

MLS#: OC25233708

$6,994,950

Status: Active
Listing number: OC25233708
Listing provided by: California Dream Luxury Homes & Investments
Listing agent phone: None
Last update: a day ago
On site: 22 days ago
Browse Properties
The Village (VIL) - Residential

Property

Beds

8

Full Baths

5

1/2 Baths

1

Year Built

1955

Sq.Footage

3,300

PRICED TO SELL! 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 approximately $300,000 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. Financing available.

Features & Amenities

Interior

  • Other Interior Features

    Master Downstairs

  • Total Bedrooms

    8

  • Bathrooms

    5

  • 1/2 Bathrooms

    1

  • Cooling YN

    YES

  • Cooling

    Ductless

  • Fireplace YN

    YES

  • Main Level Bedrooms

    3

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    3

  • Parking

    Attached

  • Pool

    Yes

  • Pool Features

    None

  • View

    Ocean

Area & Lot

  • Lot Features

    Corner Lot

  • Lot Size(acres)

    0.1662

  • Property Type

    Residential

  • Property Sub Type

    Triplex

Price

  • Sales Price

    $6,994,950

  • Sq. Footage

    3, 300

  • Price/SqFt

    $2,119

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    1

  • Senior Community YN

    NO

  • Tax Lot

    14

  • Water Source

    Public

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Listing Courtesy of Derek Larson , California Dream Luxury Homes & Investments

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PRICED TO SELL! 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 approximately $300,000 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. Financing available.

150 Cress Street

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