61
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$8,249,000
Est. payment /mo
8 Beds
6.5 Baths
3,300 SqFt
Price Dropped by $1.2M
150 Cress Street Laguna Beach, CA 92651
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Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $2,499
MLS Listing ID OC25149921
Bedrooms 8
Full Baths 5
Half Baths 1
Year Built 1955
Property Sub-Type Detached
Property Description
This is an extraordinary opportunity to live steps to Cress Street Beach in world famous Laguna Beach, or a builders dream property, and build up to 6, 1500sf luxury ocean view condos, easily valued at $16,500,000 combined. Currently, there are 2 ocean view homes on 1 oversized lot. The first home is a 3 Bedroom 2.5 bath 1400sf, completely detached, single level, and the second home is an 1800sf Duplex with amazing ocean views. The 3 elegantly appointed, and fully furnished ocean-view villas, 120, 130, & 150 Cress Street are set on an expansive and meticulously hardscaped lot. Perfectly suited for an exquisite owner-occupied residence, or for the most discerning real estate investor. This remarkable property allows the owner to enjoy one of the most coveted beach house locations in Southern California, with the option to occupy both homes, or rent the duplex. What's more impressive, all 3 Villas are permitted for vacation rentals. Currently operating as an investment property, earning in excess of $400,000 annually, or perfect for the buyer that wants to live in paradise, while effortlessly earning $250,000+ from the duplex. The short term lodging permits will never expire! The centerpiece of this extraordinary ensemble, is of course, the primary villa, 150 Cress Street, it is 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 Duplex features 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, they share a separate two-car
Location
State CA
County Orange
Direction From South Coast Highway, turn toward ocean, last home on the right.
Interior
Fireplaces Type FP in Family Room
Fireplace No
Exterior
Garage Spaces 3.0
View Y/N Yes
Water Access Desc Public
View Ocean
Building
Story 1
Sewer Sewer Paid
Water Public
Level or Stories 1
Others
Tax ID 64407406
Special Listing Condition Standard
Virtual Tour https://150Cress.com/idx
Listed by Derek Larson California Dream Luxury Homes & Investments