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150 Cress Street

Laguna Beach, CA 92651

– beds
– baths
– sqft
7,241 sqft lot
2007 build
– on site

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Incredible Value & Opportunity!! Extraordinary Laguna Beach Location!! This one of a kind property offers three spectacular beach villas (a duplex & a single family residence). The villas generated gross income well over $425K in 2022. These spectacular villas have the potential to generate income between $500K to $600K per year. Villas offer one of the highest CAP rates of over 4% & potential to exceed CAP rate of 5%. This gated World Class Laguna Beach residential family complex consists of 3 beautiful beach villas. Perhaps the most attractive and versatile multi-villas property currently available in the coastal areas of Orange County. Nestled on an approximately 7,200 sq. ft. lot immediately adjacent to the Cress Street Beach steps, and with parking for at least 6 vehicles. The property offers 3 lovely single-level villas with a total of 8 bedrooms, and 5.5 baths. Mixes of three villas: 2 bedrooms & 1 bath; 3 bedrooms & 2 baths; & 3 bedrooms & 2.5 baths (SFR). The family compound rests a short walk or ride from restaurants and shops in one of the area’s trendiest neighborhoods, the Hip district. Completely renovated and incorporating the finest materials & fixtures, each of the beach villas is worthy of the most discriminating guests or family members. Wide-plank wood & tasteful natural stone floors & shower walls, recessed lighting, crown molding & tray ceilings, stainless steel kitchen appliances, & luxurious bathrooms are only a few of the features contributing to the ambiance of casual sophistication. An expansive, multi-level courtyard features 4 fire pits & seating, with views of the ocean and spectacular sunsets. The investment & use options of this one-of-a-kind complex make it a superb prospect for immediate as well as long-term financial and tax benefits. Villas offer a viable 1031 exchange & enhance your great investment opportunity. Excellent use as a beach house for family & friends; as a second home & rent the villas as vacation or long term rentals as needed to supplement the income to offset property expenses. Very rare Laguna Beach short term rental license conveys with the property. Potential to add a second story to capture mesmerizing Panoramic Ocean/Coastal line views, Catalina Island, beautiful hills, & to increase the value significantly.

Listed By CRMLS_CA / Carl Wuestehube / Tri-Star Realty

Last checked: Checking… • Last updated Feb 6, 2025 •

MLS# OC23063283 —

The Building

Year Built:

2007
Year Built Source:

Estimated
New Construction:

No
Construction Materials:

Stucco, Wood Siding
Building Area Total:

2879.00
Building Area Units:

Square Feet
Total Number Of Units:

3
# of Buildings:

2
Architectural Style:

Contemporary
Roof:

Composition, Shingle
Stories Total:

1
Entry Level:

1
Number With Patio:

3
Accessibility Features:

Parking
Common Walls:

1 Common Wall
# of Separate Gas Meters:

1
# of Separate Water Meters:

2
# of Separate Electric Meters:

3

Interior

Features:

Ceiling Fan(s), Coffered Ceiling(s), Copper Plumbing Full, Crown Molding, Granite Counters, Open Floorplan, Recessed Lighting, Wainscoting, Wired for Data
Levels:

One
Entry Location:

1
Door Features:

Mirror Closet Door(s), Sliding Doors
Window Features:

Double Pane Windows
Flooring:

Stone, Tile, Wood
Room Type:

All Bedrooms Down, Entry, Living Room, Main Floor Bedroom, Master Bathroom, Master Bedroom
Number Wall AC:

10
Fireplace:

Yes
Fireplace:

Family Room, Outside, Gas, Fire Pit, Free Standing
Laundry:

Dryer Included, Gas Dryer Hookup, In Kitchen, Inside, Washer Hookup, Washer Included
Laundry:

1

Location

Directions:

PCH and Cress Cross Streets: PCH / Cress
Latitude:

33.53219200
Longitude:

-117.77635500

The Property

Property Type:

Residential Income
Subtype:

Triplex
Lot Features:

Bluff
Lot Size Area:

7241.0000
Lot Size Dimensions:

73x100
Lot Size Acres:

0.1662
Lot Size SqFt:

7241.00
Lot Size Source:

Assessor
View:

1
View:

Catalina, City Lights, Coastline, Mountain(s), Ocean, White Water
Fencing:

Wrought Iron
Fence:

Yes
Exclusions:

Furnishings
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

52
Tax Area:

05003
Tax Tract:

5160
Tax Lot:

14

The Listing

Special Listing Conditions:

Standard
Parcel Number:

64407406

Heating & Cooling

Heating:

1
Heating:

Electric, Fireplace(s), Forced Air, Heat Pump
Cooling:

Yes
Cooling:

Central Air, Electric, SEER Rated 16+

Utilities

Utilities:

Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Underground Utilities, Water Available, Water Connected
Sewer:

Sewer Paid
Electric:

Electricity - On Property
Water Source:

Public

Appliances

Appliances:

Dishwasher, Disposal, Gas Oven, Gas Range, Gas Cooktop, Gas Water Heater, Microwave, Refrigerator, Water Line to Refrigerator, Water Purifier
Included:

Yes

The Community

Subdivision:

Main Beach (BCH)
Subdivision:

Main Beach (BCH)
Features:

Curbs
Association:

No
Pool:

None
Waterfront Features:

Ocean Side of Freeway
Senior Community:

No
Private Pool:

No

Parking

Parking:

Yes
Parking:

Garage Faces Front, Garage - Single Door, Garage - Two Door
Parking Spaces:

6.00
Garage Spaces:

3.00
Uncovered Spaces:

3.00

Extra Units

Number With Drapes:

8
Number With Disposal:

3
Number With Dishwasher:

3
Number With Refrigerator:

3

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Source	Price
6/5/23 Jun 5, 2023	BRIDGE	$8,498,000
5/6/23 May 6, 2023	CRMLS_CA	$8,498,000
5/4/23 May 4, 2023	CRMLS_CA	$8,498,000

Multifamily Sold on 6/2/2023

$8,250,000

Listing provided by broker:

Carl Wuestehube

Tri-Star Realty

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Listing Courtesy of: CRMLS_CA and Tri-Star Realty. Based on information from California Regional Multiple Listing Service, Inc. as of 23:32 on May 11.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

150 Cress Street

Laguna Beach, CA 92651