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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 376-8652

$8,995,000

Est. payment - /mo

8 Beds

6 Baths

2,879 SqFt

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UPDATED:

02/22/2025 02:51 AM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,879 sqft

Price per Sqft $3,124

MLS Listing ID OC25017354

Bedrooms 8

Full Baths 5

Half Baths 1

HOA Y/N No

Year Built 1955

Lot Size 7,239 Sqft

Property Sub-Type Triplex

Property Description

Seller will entertain offers beginning at $8,995,000. Discover an unparalleled coastal haven at Cress Street Beach. We proudly present an extraordinary opportunity to acquire a truly unique and elusive 3 Bedroom 2.5 bath single level home, with a vacation rental oceanfront duplex, at the doorstep of the pristine shores of Cress Street Beach. This highly coveted property features 2 homes on 1 over-sized lot, including 3 elegantly appointed 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 while boasting an impressive annual revenue of $250,000-$300,000 from the duplex alone. The centerpiece of this extraordinary ensemble, is of course, the primary villa, 150 Cress Street, appropriately named "Laguna Vista" 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 additional two villas, separated by only one common wall between them, feature 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, they share a separate two-car garage, accessed from an entirely different street, ensuring privacy and tranquility for the primary villa. Each villa is fully furnished, exuding luxury and comfort, providing both you and your guests with an idyllic beach vacation experience year-round. Whether indulging in the sun-kissed sands just beyond their doorstep, or savoring a sunset glass of wine by one of the four outdoor fire pits that overlook the magnificent ocean, it will be no surprise that your guests are drawn back to the enchanting “Villas of Laguna Vista” time and again, a testament to the property's undeniable allure and year-round demand. Seize this remarkable opportunity to live and invest in a coastal gem that promises elegance, sustainability, and profitability. This is also a Luxury Builders Dream, value could come within striking distance of $20,000,000 with the addition of a second story. Your dream of owning a piece of paradise on the world famous shores of Laguna Beach awaits.

Location

State CA

County Orange

Area Lv - Laguna Village

Rooms

Main Level Bedrooms 3

Interior

Interior Features Bedroom on Main Level, Main Level Primary

Cooling Ductless

Fireplaces Type Family Room

Fireplace Yes

Laundry Stacked

Exterior

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Biking, Hiking

View Y/N Yes

View Ocean

Attached Garage Yes

Total Parking Spaces 3

Private Pool No

Building

Lot Description Corner Lot

Dwelling Type Triplex

Story 1

Entry Level One

Sewer Sewer Tap Paid

Water Public

Level or Stories One

New Construction No

Schools

School District Laguna Beach Unified

Others

Senior Community No

Tax ID 64407406

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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

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150 Cress Street Laguna Beach, CA 92651