150 Cress Street, Laguna Beach, CA
Incredible opportunity to acquire this well-appointed beachside single family home and duplex at Laguna’s Cress Street Beach. This property possesses one of the only short-term Vacation Rental Permits in Laguna Beach and according to professional management firms it can easily earn $500k - $600k per year in income. Located steps from the warm sand and clear blue waters of the Pacific Ocean, this property consists of three beautiful beach villas. Villa 1 is 2 bedrooms and 1 bathroom; villa 2 is 3 bedrooms and 2 bathrooms; and villa 3 is 3 bedrooms and 2.5 bathrooms. There is parking available for 6 or more vehicles. Not only is this a serious income producing asset in the heart of Laguna Beach with a 4.18% CAP rate based on actual 2022 rents and a pro forma CAP rate of over 5.25%, it is also perfect as a multi-generational family compound, with separate living areas, multiple outdoor fire pits and it is completely secure behind a beautiful custom gate. In addition, there could be serious upside potential if a second floor is added to the property. Don’t miss out on this rare opportunity to own prime Laguna Beach real estate that pays for itself steps from the ocean.
3,415 Sq.Ft. LIVING AREA
We are dedicated to helping you find your dream home and assisting with any selling needs you may have. Contact us today to start your home searching journey!