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

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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Interactive

33.53223 -117.776299 $6,795,000 OC21098483
150 Cress St., Laguna Beach, CA 92651
Directions to here from:

Area Information 92651

Population:

30,411 Up .06% since 2010
Average Income:
$204,808
Average Age:
47Years
Gender:
50.38%Male
49.62%Female
Households:
13,81121.03% with children
Average Value:
$2,695,256
Occupancy:
56.83%Owned
43.17%Rented
13.83%Vacant
Education:
5.54%High School
5.91%Associate
40.47%Bachelor
30.06%Graduate
Average Residency:
19Years
Crime Rate:
Above Average
Annual Rainfall:
14.02Inches
Earthquake Risk:
Very High
Hail Risk:
Very Low
Hurricane Risk:
Very Low
Ozone Risk:
Average
Pollution Risk:
Average
Tornado Risk:
Below Average
Wind Risk:
Very Low

Tax Assessments

Value

  • Land $3,424,695
  • Improvements $112,665

  • Total $3,537,360

Property Tax

  • 2021 $38,399

History

Date Transaction Price Mortgage Amt & Lender
Date
Oct 22, 2021
Transaction
Expired - Residential90068547
Price
$5,990,000
Mortgage Amt & Lender
- -
Date
Jul 04, 2021
Transaction
Cancelled - Residential IncomeOC19090148
Price
$6,800,000
Mortgage Amt & Lender
- -
Date
Jun 07, 2021
Transaction
Cancelled - Residential LeaseOC15037745
Price
$9,995
Mortgage Amt & Lender
- -
Date
May 19, 2021
Transaction
Cancelled - Residential IncomeL35172
Price
$5,449,000
Mortgage Amt & Lender
- -
Date
May 19, 2021
Transaction
Cancelled - Residential LeaseS648345
Price
$12,500
Mortgage Amt & Lender
- -
Date
May 16, 2021
Transaction
Expired - Residential LeaseS716337
Price
$12,000
Mortgage Amt & Lender
- -
Date
May 01, 2021
Transaction
Expired - ResidentialLG20242010
Price
$6,495,000
Mortgage Amt & Lender
- -
Date
Jun 17, 2020
Transaction
Expired - Residential LeaseOC19142108
Price
$9,800
Mortgage Amt & Lender
- -
Date
Nov 13, 2019
Transaction
Expired - Residential LeaseOC18071843
Price
$9,995
Mortgage Amt & Lender
- -
Date
Nov 08, 2019
Transaction
Cancelled - Residential IncomeOC18194507
Price
$7,800,000
Mortgage Amt & Lender
- -

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Listed by Carl Wuestehube with Tri-Star Realty