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CA > Laguna Beach
Laguna Beach, CA 92651,150 Cress ST
Laguna Beach, CA 92651,150 Cress ST
Laguna Beach, CA 92651,150 Cress ST
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Devone Richard

Devone Richard

+1(626) 500-1212
$8,995,000
Est. payment /mo
7,239 Sqft Lot
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UPDATED:

02/13/2025 02:39 PM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25017251

HOA Y/N No

Year Built 1955

Lot Size 7,239 Sqft

Property Sub-Type Triplex

Property Description

Seller to entertain offers beginning at $8,995,000. Discover an unparalleled coastal haven at Cress Street Beach. We proudly present an extraordinary opportunity to acquire a truly unique and elusive vacation rental oceanfront triplex, elegantly divided as a single family residence style villa, and completely separate duplex style villas, at the doorstep of Cress Street Beach. This is a rare opportunity, a permitted vacation rental income property on the shores of Laguna Beach cannot be duplicated, or replaced, so rare in fact, that any property like it, simply put, may not come on the market again. This highly coveted property features 3 elegantly appointed ocean-view villas, 120, 130, and 150 Cress Street are set on an expansive 7,500sf meticulously hardscaped lot, elegantly divided between 2 charming buildings. Perfectly suited for discerning real estate investors or those seeking an exquisite owner-occupied residence, this remarkable property boasts an impressive minimum annual revenue of $420,000, & can absolutely earn in a range as high as $550,000+. VRBO and AirBNB Super Host accounts included! Buyer may also chose to continue the current 5-star property management service, for a seamless transfer of ownership. The centerpiece of this extraordinary ensemble is the primary villa, 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 additional 2 villas, separated by only one common wall featuring 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, share a 2-car garage, accessible from Oceanfront street, ensuring privacy and tranquility to the primary villa. Each villa is fully furnished, exuding luxury and comfort, providing guests with an idyllic beach vacation experience year-round. Whether indulging in the sun-kissed sands just beyond their doorstep or savoring a sunset glass of wine by one of the 4 outdoor fire pits that overlook the Pacific Ocean, it is no surprise that guests are drawn back to the enchanting “Villas of Laguna Vista” time and again, a testament to the property's undeniable allure and year-round demand. This is also a Luxury Builders Dream property with Massive value increase potential, with the addition of a second story. Seize this remarkable opportunity to invest in a coastal gem that promises elegance, sustainability, and profitability on the world famous shores of Laguna Beach.

Location

State CA

County Orange

Area Lv - Laguna Village

Interior

Fireplace No

Laundry Stacked

Exterior

Parking Features Driveway, Garage

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Hiking, Park, Water Sports

Waterfront Description Beach Access,Beach Front,Ocean Access,Ocean Side Of Highway

Total Parking Spaces 6

Private Pool No

Building

Lot Description Corner Lot

Story 1

Sewer Sewer Tap Paid

Water Public

New Construction No

Others

Senior Community No

Tax ID 64407406

Energy Description 2000.0

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Virtual Tour https://150Cress.com/

Read Less Info
California Regional MLS (CRMLS)
Listed by Derek Larson • Derek Lee Larson • 949-677-4121
agent
Devone Richard

Broker | License ID: 1002115

+1(626) 500-1212 | devone@nextadvisors.properties

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150 Cress ST

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