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$ 8,249,000
Est. payment | /mo
8 Beds
3,300 SqFt
$ 8,249,000
Est. payment | /mo
8 Beds
3,300 SqFt
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,300 sqft
Price per Sqft $2,499
MLS Listing ID CROC25149783
Bedrooms 8
HOA Y/N No
Year Built 1955
Lot Size 7,241 Sqft
Acres 0.17
Property Sub-Type Triplex
Property Description
PERMITTED VACATION RENTAL TRIPLEX STEPS TO CRESS STREET BEACH WITH INCREDIBLE OCEAN VIEWS, OR AMAZING DEVELOPMENT OPPORTUNITY! MOTIVATED SELLER! Endless options await, a builders dream property, that will allow development of up to 6, 1500sf luxury ocean view condos, valued at $16,500,000, or enjoy the current vacation rental income. Each future condo would easily be valued at $2,500,000 - $3,500,000, and for the savviest investors, even greater returns can be found by offering owner financing. Currently, this is a fully furnished, one-of-a-kind investment property located at 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 parking for up to 6 cars. 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 options for development, personal use, and high level income, simultaneously. That is correct, this property can be enjoyed by the
Location
State CA
County Orange
Interior
Fireplace No
Laundry Other
Exterior
Utilities Available Other Water/Sewer
Total Parking Spaces 6
Building
Lot Description Corner Lot
New Construction No
Others
Tax ID 64407406
Virtual Tour https://150Cress.com/idx
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Listed by Derek Larson • California Dream Luxury Homes & Investments
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "