385 Mermaid Street

Laguna Beach, CA 92651

$3,995,000
Price
4
Beds
4
Baths
2,000 Sq. Ft.
$1,998 / Sq. Ft.
2,000
Sq. Ft.
$1,998
per Sq. Ft.

Description

Situated in the picturesque heart of The Village in Laguna Beach is a lucrative, turnkey investment opportunity: a triplex bathed in coastal charm and superbly located. The property is spread across four stories, including the garage and boasts excellent walkability near high-end dining, boutique shopping, five-star resorts, and top-rated schools, creating an oasis of comfort, style, and convenience. Each of the three units has a unique allure, characterized by significant outdoor square footage,...Situated in the picturesque heart of The Village in Laguna Beach is a lucrative, turnkey investment opportunity: a triplex bathed in coastal charm and superbly located. The property is spread across four stories, including the garage and boasts excellent walkability near high-end dining, boutique shopping, five-star resorts, and top-rated schools, creating an oasis of comfort, style, and convenience. Each of the three units has a unique allure, characterized by significant outdoor square footage, beamed ceilings and hardwood floors. The units' kitchens, each adorned with stainless steel appliances, add a touch of modern elegance and functionality. Nestled on the lowest level, Unit A offers a two-bedroom, one-bathroom layout. Serenity defines this space, from its peaceful bedrooms to its outdoor deck that provides city light and neighborhood views—an ideal spot to unwind or entertain. Unit B, located on the middle level, unfolds as a flexible studio with one bathroom and an outdoor patio, a canvas for creative personalization. It can serve as a home office, an artist's studio, or a guest suite; the potential is unlimited. Ascending to the upper unit, you'll find Unit C, mirroring Unit A with two tranquil bedrooms and one full bathroom. With its extraordinary income-earning potential, all three units can be fully leased for consistent earnings, or partially occupied with the remaining units rented out. Completing the residence is a rare four-car attached garage with storage cabinets plus 2 uncovered spaces. Bridging the unique charm of Laguna Beach living with a compelling investment opportunity, this coastal triplex is an incredible find.
  1. Listed by Tim Smith • DRE #01346878 • Brokerage DRE #00616212 • Coldwell Banker Realty • 949.478.2295

Property Details for 385 Mermaid Street

View
City Lights
Parking Spaces Total
6
Private Pool
No
Cooling Type
Central Forced Air, Wall/Window
Total Units
3.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
2000

Location

Listing Courtesy of Coldwell Banker Realty, Tim Smith, DRE #01346878
Add your commute
LISTING UPDATED: 02/15/2024 05:46 AM

Property Details for 385 Mermaid Street

StatusActive
MLS #NP23225178
Days on Market116
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential
Year Built1945
CountyOrange County

Building

385 Mermaid St

3 Units3 StoriesBuilt in 1945

Location

Listing Courtesy of Coldwell Banker Realty, Tim Smith, DRE #01346878
Add your commute

Building Information for 385 Mermaid Street

Building/Complex385 Mermaid StFloor-Stories3Residences3Pet Policy-Year Built1945Building Size-

Payment Calculator

$24,767 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,802

Property Taxes

$2,965

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 385 Mermaid Street

Income / Expense / Tax Details
Tax / Assessment Info
  • Tax Block: F
  • Tax Tract Number: 144
  • Tax Census Tract: 626.05
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 15
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Freezer, Gas Cooktop, Range Hood, Refrigerator
  • Equipment: Dishwasher, Refrigerator, Freezer, Gas Stove
  • Interior Features: Beamed Ceilings, Furnished, Recessed Lighting
  • Room Type: Kitchen, Living Room
  • Main Level Bathrooms: 4
  • Main Level Bedrooms: 4
  • Room Bathroom Features: Shower, Dual shower heads (or Multiple), Main Floor Full Bath, Walk-in shower
  • Room Kitchen Features: Kitchen Open to Family Room
  • Laundry: Yes
  • Laundry Features: Inside, Stackable
  • Laundry Location: Closet Stacked, Inside
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Fireplace: N/K
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating Type: Forced Air
  • Heating: Forced Air
  • Heat Equipment: Forced Air Unit
  • Floor Coverings: Wood
  • Flooring: Wood
Exterior Features
  • Door Features: Mirror Closet Door(s), Sliding Doors
  • Entry Location: 2
  • Structure Type: Triplex
  • View Description: City Lights
  • Patio: Yes
  • Patio: Deck, Patio
  • Patio And Porch Features: Deck, Patio
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Lease Considered: No
  • Available For Lease: No
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Three Or More, Multi/Split
  • Water: Public
  • Sewer: Public Sewer
  • Sewer/Septic: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Garage
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 4
  • Parking Garage: Garage
  • Carport Spaces: 0
  • Attached Garage: Yes
  • Parking Features: Garage, Garage Faces Front
Property / Structure Info
  • Builders Tract Name: The Village
  • Builders Tract Code: The Village (VIL)
  • Residential Styles: All Other Attached
  • Residential Unit Location: No Common Walls

Property History for 385 Mermaid 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 385 Mermaid Street

Taxable ValueLand$2,919,484Additions$306,000Total$3,225,484
Tax Record2023$35,581 ($2,965 / month)
Home Facts
Total Finished SqFt1,895 SqFtAbove Grade Finished SqFt1,895 SqFtStories1Lot Size2,751 SqFtStyleMulti-Family Dwelling (2-4)Year Built1945CountyORANGEAPN641-265-06

Schools near 385 Mermaid 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
El Morro 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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385 Mermaid Street is a multi-family home for sale in Laguna Beach, CA 92651. This property was listed for sale on December 7, 2023 by Coldwell Banker Realty, it's currently listed at $3,995,000. It has been on the market for a total of 116 days and was last sold on May 25, 2022. This listing's school district is Laguna Beach Unified School District. Nearby schools include El Morro Elementary School, Thurston Middle School and Laguna Beach High School. 385 Mermaid Street is a 4-bed, 4-bath, 2,000 sqft multi-family home built in 1945.

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 Coldwell Banker Realty, Tim Smith, DRE #01346878

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.