Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1955
Sq.Footage
N/A
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 owner, friends, and family, anytime, year-round, while still earning a minimum of $400,000 every year! Includes a single family residence style villa, and completely separate duplex style villas, right at the doorstep of Cress Street Beach. The centerpiece of this extraordinary ensemble is the primary villa, a sophisticated single-level residence offering 3 spacious bedrooms and 2.5 opulent baths. This villa includes a private 1-car garage and a gated driveway accommodating up to 3 vehicles. The additional 2 villas are a 3 bedroom and 2 bath, and a 2 bedroom with 1 bath, they share a 2-car garage, accessible from Oceanfront street, ensuring privacy and tranquility to the primary villa. Each villa is fully furnished, exuding luxury and comfort, providing guests with an idyllic beach vacation experience year-round. VRBO and AirBNB Super Host accounts are included with the sale, and each of the 3 short term lodging permits will transfer to the new owner. The permits for this property, do not expire! There are few better investment opportunities anywhere in Southern California.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
Exterior
-
Garage
Yes
-
Garage spaces
3
-
Parking
Driveway, Garage
-
Pool
Yes
-
Pool Features
None
-
Waterfront YN
YES
Area & Lot
-
Lot Features
Corner Lot
-
Lot Size(acres)
0.1662
-
Property Type
Residential Income
-
Property Sub Type
Triplex
Price
-
Sales Price
$8,249,000
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
1
-
Senior Community YN
NO
-
Tax Lot
14
-
Water Source
Public
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Location
County
Orange
Elementary School
Middle School
High School
Listing Courtesy of Derek Larson , California Dream Luxury Homes & Investments
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