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$9,495,000

Est. payment - /mo

7,239 Sqft Lot

Active

150 Cress ST Laguna Beach, CA 92651

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Brent Cate

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Key Details

Property Type Single Family Home, Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Subdivision The Village (Vil)

MLS Listing ID OC25149783

HOA Y/N No

Year Built 1955

Lot Size 7,239 Sqft

Property Sub-Type Triplex

Property Description

PERMITTED VACATION RENTAL TRIPLEX STEPS TO CRESS STREET BEACH WITH INCREDIBLE OCEAN VIEWS! Fantastic income opportunity from a truly rare, fully furnished, one-of-a-kind dream property. This is one of the most desirable locations in all of Laguna Beach! Presenting the Villas of Laguna Vista. Ideal configuration across 2 individual buildings, on a fully hardscaped 7500sf sf lot! With a 12 year history on AirBNB and VRBO, this property effortlessly fills 60% occupancy each year and at minimum, earns in excess of $400,000 annually. The potential to see income soar to $500,000+ is certainly within reach, as vacation rental occupancy can routinely reach 75-80% in this highly sought, and world famous travel destination. Few properties can offer both the options for personal use and high level income, simultaneously. That is correct, this property can be enjoyed by the owner, friends, and family, anytime, year-round, while still earning a minimum of $400,000 every year! Includes a single family residence style villa, and completely separate duplex style villas, right at the doorstep of Cress Street Beach. 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, which are completely separate from the primary villa, share only one common wall between each other. Featuring a 3 bedroom and 2 bath, and a 2 bedroom with 1 bath villa, and they 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. All 3 villas can be found on AirBNB and VRBO. These Super Host accounts are included with the sale, and each of the 3 short term lodging permits will transfer to the new owner. The permits for this property, do not expire! There are few better investment opportunities anywhere in Southern California.

Location

State CA

County Orange

Area Lv - Laguna Village

Interior

Inclusions Furnishings

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

Entry Level One

Sewer Sewer Tap Paid

Water Public

Level or Stories One

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/idx

Lease Land No

Listed by Derek Larson Derek Lee Larson 949-677-4121

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Brent Cate

License ID: 01482878

+1(559) 304-6188

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150 Cress ST Laguna Beach, CA 92651

Brent Cate

Key Details

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150 Cress ST