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Listed by Derek Larson • California Dream Luxury Homes & Investments
$ 6,994,950
Est. payment /mo
Pending
150 Cress Street Laguna Beach, CA 92651
3,300 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $2,119
MLS Listing ID CROC25233819
HOA Y/N No
Year Built 1955
Lot Size 7,241 Sqft
Property Sub-Type Triplex
Source Datashare California Regional
Property Description
PRICED TO SELL! PERMITTED VACATION RENTAL TRIPLEX STEPS TO CRESS STREET BEACH WITH INCREDIBLE OCEAN VIEWS, OR AMAZING DEVELOPMENT OPPORTUNITY! Cap rate is 6.47% as-is with room for growth! This is a fully furnished, one-of-a-kind investment property located at one of the most desirable locations in all of Laguna Beach! Presenting the Villas of Laguna Vista. Ideal configuration across 2 individual buildings, on a fully hardscaped 7500sf sf lot, with parking for up to 6 cars. With a 12 year history on AirBNB and VRBO, this property effortlessly fills 65% occupancy each year, and routinely earns $450,000 annually. The potential to see income soar to $525,000+ is certainly within reach, as vacation rental occupancy can routinely reach 75-80% in this highly sought, and world famous travel destination. Few properties can offer options for development, personal use, and high level income, simultaneously. That is correct, this property can be enjoyed by the owner, friends, and family, anytime, year-round, while still earning $450,000 every year! Includes a single family residence style villa, and completely separate duplex style villas, right at the doorstep of Cress Street Beach. The centerpiece of this extraordinary ensemble is the primary villa, a sophisticated single-level residence
Location
State CA
County Orange
Interior
Fireplace No
Laundry Other
Building
Lot Description Corner Lot
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