150 Cress St., Laguna Beach, CA 92651 - OC21098483 - iPro Real Estate

150 Cress St.
Laguna Beach, CA 92651

Canceled, Multi-Family/Income Sale

For Sale

$6,795,000 $938.67 per sqft

Free Professional CMA

Listing ID : OC21098483

  • Beds

    8
  • Lot Size

    7,239 Sqft

Description

Best Beach Location!! One of the Best Value along the coast of Southern California!! Best income producing property on the Beach!! See To Believe It!! This spectacular, trophy property offers three (3) world class beach villas with at least six (6) parking (very rare) nestled on a prime beachfront location in World Famous Laguna Beach. Appointed to the nines, this luxury property offers the very best in form, function and location. The three beach villas boast single level floorplans enhanced with the finest designer finishes. Spectacular outdoor spaces include 4 fire pits, multi-level conversation spaces, with incredible ocean-view verandas. Mere feet from beach access, & within walking distance of many fine restaurants & shops. Mixes of three villas are 2 bed & 1 bath; 3 bed & 2 baths: & 3 bed rooms & 2.5 baths. Or the entire family complex offers a total of 8 bed rooms and 5.5 bath rooms. Each villa has the appointments rivaling better than the most prestigious hotels in town. Excellent use as a beach house for family and friends; as a second home when needed and rent the villas as vacation rentals and/or rent them as needed to supplement the income to offset property maintenance and taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best & classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream. Take a tour and appreciate what this spectacular beachfront property offers.

Details

Type: Multi-Family/Income Sale 
County: Orange 
Tax ID: 64407406
Cap Rate: 4% 
Net Operating Income: $303,700 
Appliances: Range/Oven, Refrigerator, Washer 
Heating: Forced Air 
Number of Units: 3 
Property Type: Residential Income 
Roof: Composition 
Sub Type: Multi Family 
Zoning: Estimated 

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33.53223 -117.776299 $6,795,000 OC21098483
150 Cress St., Laguna Beach, CA 92651
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Listed by Carl Wuestehube with Tri-Star Realty