150 Cress Street

Laguna Beach, CA 92651

$8,250,000
Last Sold Price
8
Beds
5
Baths
1
1/2 Bath
2,879 Sq. Ft.
$2,866 / Sq. Ft.
2,879
Sq. Ft.
$2,866
per Sq. Ft.

Description

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...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.
  1. Listed by Carl Wuestehube • DRE #00634943 • Brokerage DRE #00634943 • Tri-Star Realty
  2. Listed by Chas Patterson • DRE #01935216 • Brokerage DRE #02194282 • The Firm Real Estate Services Inc.

Property Details for 150 Cress Street

Architectural Style
Cottage
View
Coastline, Ocean, Panoramic, Water, White Water
Parking Spaces Total
2
Private Pool
No
Cooling Type
Central Forced Air
Total Units
1.0
Building Type
Detached
Lot Size Source
Public Records

Location

Listing Courtesy of Tri-Star Realty, Carl Wuestehube, DRE #00634943; The Firm Real Estate Services Inc., Chas Patterson, DRE #01935216

Sold By Compass RE Group, Derek Larson, DRE #01294200

Add your commute
LISTING UPDATED: 06/20/2023 01:21 AM

Property Details for 150 Cress Street

StatusClosed
MLS #OC23063295
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built2007
Lot Size0.17 AC / 7,241 SF
CountyOrange County

Location

Listing Courtesy of Tri-Star Realty, Carl Wuestehube, DRE #00634943; The Firm Real Estate Services Inc., Chas Patterson, DRE #01935216

Sold By Compass RE Group, Derek Larson, DRE #01294200

Add your commute

Virtual Tour

Building Information for 150 Cress Street

Stories1Year Built2007Building Size-Lot Size0.17 AC / 7,241 SF

Payment Calculator

$48,548 per month

30 year fixed, 7.25% Interest

Principal and Interest

$45,024

Property Taxes

$3,524

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 150 Cress Street

Income / Expense / Tax Details
Income Details
  • Financing: Cash
Tax / Assessment Info
  • Tax Block: 52
  • Tax Tract Number: 415
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 14
  • Tax Model: C
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Appliances: Barbecue, Built-In Range, Convection Oven, Dishwasher, Freezer, Gas Oven, Gas Cooktop, Ice Maker, Microwave, Recirculated Exhaust Fan, Refrigerator
  • Equipment: Dishwasher, Microwave, Refrigerator, Convection Oven, Freezer, Gas Oven, Gas Stove, Ice Maker, Recirculated Exhaust Fan, Barbecue
  • Interior Features: Ceiling Fan(s), Furnished, Granite Counters, Recessed Lighting
  • Room Type: All Bedrooms Down, Living Room
  • Main Level Bathrooms: 3
  • Main Level Bedrooms: 3
  • Room Bathroom Features: Shower in Tub, Exhaust fan(s)
  • Bedroom Features: All Bedrooms Down
  • Room Kitchen Features: Granite Counters, Kitchen Island, Kitchen Open to Family Room, Kitchenette, Pots & Pan Drawers, Remodeled Kitchen
  • Eating Area: Breakfast Counter / Bar, In Kitchen
  • Laundry: Yes
  • Laundry Features: Inside
  • Laundry Location: Inside
  • Fireplace Features: Living Room, Gas
  • Fireplace Rooms: Gas, Living Room
  • Fireplace: FP in Living Room, Gas
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Heat Equipment: Forced Air Unit
  • Floor Coverings: Stone
  • Flooring: Stone
  • Virtual Tour URL Branded: https://youtu.be/a-o-MdTlSRA
Exterior Features
  • Door Features: French Doors
  • Window Features: Custom Covering
  • Security Features: Smoke Detector(s)
  • Construction Materials: Wood Siding
  • Exterior Construction: Wood Siding
  • Exterior: Wood
  • Roof: Composition
  • Entry Location: Ground Level
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • Structure Type: House
  • View Description: Coastline, Ocean, Panoramic, Water, White Water
  • Patio: Yes
  • Patio: Slab, Concrete, Patio Open
  • Patio And Porch Features: Concrete, Patio Open, Slab
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Sign on Property: No
  • Lot Features: 0-1 Unit/Acre
  • Lease Considered: No
  • Available For Lease: No
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Sewer Paid
  • Sewer/Septic: Sewer Paid
  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Water Available
  • Electric: Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Water Available
  • Water Source: Public
Parking Info
  • Number Remotes: 0
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Parking Space
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Non-Garage: Parking Space, See Remarks
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Parking Space, See Remarks
Property / Structure Info
  • Builders Tract Name: The Village
  • Builders Tract Code: The Village (VIL)
  • Architectural Style: Cottage
  • Residential Styles: Detached
  • Residential Unit Location: No Common Walls

Property History for 150 Cress Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 150 Cress Street

Taxable ValueLand$3,563,053Additions$117,216Total$3,680,269
Tax Record2023$42,283 ($3,524 / month)
Home Facts
Total Finished SqFt2,605 SqFtAbove Grade Finished SqFt2,605 SqFtLot Size7,241 SqFtStyleTriplexYear Built1955CountyORANGEAPN644-074-06

Schools near 150 Cress Street

This home is within Laguna Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - K to 3
Rating
School
Distance
Top Of The World Elementary School
PublicK to 5

Thurston Middle School
Public6 to 8

Laguna Beach High School
Public9 to 12

LEA Stone
PrivateK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Tri-Star Realty, Carl Wuestehube, DRE #00634943; The Firm Real Estate Services Inc., Chas Patterson, DRE #01935216

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.