Incredible Value!! Extraordinary Beach Location!! This one of a kind property offers three spectacular beach villas. These villas will generate gross income well over $450K in 2022 as vacation rentals, and these villas generated income well over $410 K in 2021. The Villas offer one of the highest CAP rate of 4% along the beach areas of Orange County. 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. It is a spectacular family complex, multiple lucrative beach villa rentals, and/or both. It offers 3 lovely single-level villas with a total of 8 bedrooms, 5 full baths and a half-bath. Mixes of three villas are : 2 bedrooms & 1 bath; 3 bedrooms & 2 baths; & 3 bedrooms & 2.5 baths. 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 & enhances your great investment opportunity in one of the best & highly regarded beach City in the United States. Excellent use as a beach house for family & friends; as a second home as needed; & rent the villas as vacation or long term rentals as needed and/or to supplement the income to offset property mortgage, insurance, and taxes. The 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, & enhances value significantly.
Listing Agent: Carl Wuestehube 00634943 Courtesy of: Tri-Star Realty "All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Updated: 5th October, 2022 4:10 AM (UTC)
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