Orange, Residential Income – 150 Cress St, Laguna Beach, CA 92651, USA -001-11-30T00:00:00-08:00
Lifetime opportunity! 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 offe
150 Cress St, Laguna Beach, CA 92651, USA
$7,498,000 USD
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Address150 Cress Street, Laguna Beach
Price$7,498,000
Year Built2007
Bedrooms Total0
Living Area3,415 ft2
Lot Size (Sq.Ft.)7,241
Listing IDOC17118002
StatusActive
Parcel Number64407406
Special ConditionsStandard
Days on Market176

Detailed Description: Lifetime opportunity! 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, and within walking distance of many fine restaurants and shops. Mixes of three villas are 2 bed r and 1 bath; 3 bed and 2 baths: and 3 bed rooms and 2.5 baths. 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 and other taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best and classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream.

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Address Information
Address150 Cress Street, Laguna Beach
Street SuffixStreet
Subdivision NameMain Beach (BCH)
CityLaguna Beach
Location (MLS Area)LV – Laguna Village
County Or ParishOrange
State or ProvinceCalifornia
Postal Code92651
Postal Code Plus43120
CountryUnited States
Financial Information
Price per Square Foot$2,195.61
Price per Lot Square Foot$1,035.49
Special ConditionsStandard
Total Expenses$32,000
Licenses Expense$250
Insurance Expense$3,000
Electric Expense$4,600
Water Sewer Expense$2,850
Maintenance Expense$3,100
Supplies Expense$3,800
Cable TV Expense$2,400
Furniture Replacement Expense$1,000
Gross Operating Income$316,600
Gross Scheduled Income$340,600
Net Operating Income$316,600
Gross Multiplier22.1%
Tax Year2017
Tax Lot14
New Taxes Expense$78,000
Full Descriptions
Parcel Number64407406
Detailed DescriptionLifetime opportunity! 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, and within walking distance of many fine restaurants and shops. Mixes of three villas are 2 bed r and 1 bath; 3 bed and 2 baths: and 3 bed rooms and 2.5 baths. 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 and other taxes. Villas offer a viable 1031 exchange for your investment dollars and enhances your great investment opportunity in one of the best and classy beach City in the United States. Currently the villas are utilized as high end vacation rentals with excellent income stream.
Lot FeaturesBluff Front
Community FeaturesCurbs
Architectural StyleContemporary
Interior FeaturesCoffered Ceiling (s), Crown Moldings, Granite Counters, Open Floor Plan, Recessed Lighting
ExclusionsFurnishings
Flooring DescriptionStone, Wood
Window FeaturesDouble Pane Windows
Door FeaturesMirrored Closet Doors
Water SourcePublic
Construction MaterialsStucco, Wood Siding
Roof DescriptionComposition, Shingle
UtilitiesSewer Connected
Laundry FeaturesDryer Included, Washer Included
Heating DescriptionForced Air
Appliances DescriptionDishwasher, Garbage Disposal, Microwave, Refrigerator, Water Purifier
Parking FeaturesGarage – Front Entry, Garage – Single Door, Garage – Two Door
Sewer DescriptionSewer Paid
Fireplace FeaturesElectric, Fire Pit, Wood
Common Walls Description1
View DescriptionOcean, White Water
Waterfront FeaturesOcean Side of Freeway
Pool FeaturesNone
Property parameters
Year Built2007
Living Area (Sq.Ft.)3,415 ft2
Lot Size (Sq.Ft.)7,241
Lot Size Dimensions72×100
Number of Buildings2
Number of Units Total3
Parking Spaces6
Garage Spaces3
Uncovered Spaces3
LevelsOne
Water SourcePublic
Units Total3
Year Built SourceEstimated
Number of Separate Electric Meters3
Number of Separate Gas Meters1
Number of Separate Water Meters2
Units with Dishwasher3
Units with Disposal3
Units with Refrigerator3
Cap Rate (For Cash Payment Only)3
Listed withCarl Wuestehube (Tri-Star Realty)