150 Cress St., Laguna Beach, CA 92651 - OC21098483

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

150 Cress St., Laguna Beach, CA 92651
Directions to here from: 155 mi

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 - -

Mortgage Calculator

Listed by Carl Wuestehube with Tri-Star Realty

Office: 888-603-IPRO

150 Cress St. - $6,795,000