150 Cress Street, Laguna Beach, California 92651, Laguna Beach, 92651 - bed, bath

150 Cress Street, Laguna Beach, California 92651 home-pic-0
ACTIVE$8,495,000
150 Cress Street, Laguna Beach, California 92651
0Bed
0Bath
3,300Sqft
7,241Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Exceptional Location & Views: Situated steps from Cress Street Beach in highly desirable Laguna Beach, offering prime ocean views and unparalleled access to coastal amenities.
Top Cons:
Property Age: Built in 1955, the property may require ongoing maintenance, system updates, or renovations to meet modern luxury standards and prevent future capital expenditures.

Compared to the nearby listings

Price:$8.49M vs avg $2.50M (+$5,995,000)94%
Size:3,300 sqft vs avg 1,989 sqft94%
Price/sqft:$2.6K vs avg $1.2K94%

More Insights

Built in 1955 (70 years old).
Condition: Despite being built in 1955, the property has clearly undergone extensive and high-quality renovations, making it move-in ready and suitable for its intended use as a luxury vacation rental. The kitchen features updated cream-colored cabinetry, dark granite countertops, stainless steel appliances (including a modern refrigerator and built-in microwave), recessed lighting, and tile flooring, all in excellent condition. Bathrooms showcase modern fixtures, updated vanities, and stacked washer/dryer units. Throughout the villas, there are hardwood and tile floors, recessed lighting, and modern mini-split AC units, indicating significant system and aesthetic upgrades. While the original structure is older, the visible interior components and finishes appear to have been extensively renovated within the last 5-15 years, aligning with the 'Good' condition criteria.
Year Built
1955
Close
-
List price
$8.49M
Original List price
$8.99M
Price/Sqft
$2,574
HOA
-
Days on market
-
Sold On
-
MLS number
OC25017251
Home ConditionGood
Features
Excellent View:
Patio
View-

About this home

FULLY FURNISHED, PERMITTED VACATION RENTAL TRIPLEX WITH OCEAN VIEWS ONLY STEPS TO CRESS STREET BEACH! Motivated seller has already purchased his next investment! This is one of the most desirable properties, and 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! Super Host Accounts with AirBNB and VRBO included. The minimum occupancy can routinely reach 75-80% in this location, which ca!n earn in excess of $500,000 annually! Currently, the seller has also enjoyed using the property, therefore occupancy has been closer to 60%, with more than $400,000 in annual income. 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, separated by only one common wall featuring 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, 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. All 3 villas can be found on AirBNB at airbnb.com/h/cresspoint airbnb.com/h/lagunapoint

Condition Rating
Good

Despite being built in 1955, the property has clearly undergone extensive and high-quality renovations, making it move-in ready and suitable for its intended use as a luxury vacation rental. The kitchen features updated cream-colored cabinetry, dark granite countertops, stainless steel appliances (including a modern refrigerator and built-in microwave), recessed lighting, and tile flooring, all in excellent condition. Bathrooms showcase modern fixtures, updated vanities, and stacked washer/dryer units. Throughout the villas, there are hardwood and tile floors, recessed lighting, and modern mini-split AC units, indicating significant system and aesthetic upgrades. While the original structure is older, the visible interior components and finishes appear to have been extensively renovated within the last 5-15 years, aligning with the 'Good' condition criteria.
Pros & Cons

Pros

Exceptional Location & Views: Situated steps from Cress Street Beach in highly desirable Laguna Beach, offering prime ocean views and unparalleled access to coastal amenities.
Proven Income-Generating Asset: A fully permitted vacation rental triplex with established Super Host accounts, demonstrating a strong track record of substantial annual income ($400k+).
High Earning Potential: The property has the capacity to generate over $500,000 annually with optimized occupancy, presenting significant upside for a dedicated investor.
Turnkey & Fully Furnished: Offered fully furnished with existing rental platforms, allowing for immediate, seamless operation and guest bookings without initial setup costs.
Versatile Multi-Unit Configuration: Comprises two separate buildings (a single-family style villa and a duplex) on a large lot, providing flexibility in rental strategies and appealing to diverse guest needs.

Cons

Property Age: Built in 1955, the property may require ongoing maintenance, system updates, or renovations to meet modern luxury standards and prevent future capital expenditures.
Recent Price Reduction: A significant price drop from the original listing suggests potential market resistance, overvaluation, or a motivated seller, which could impact perceived value.
Current Occupancy Below Potential: While high income is achievable, the seller's personal use has kept current occupancy (and thus income) below its maximum potential, requiring active management to realize full revenue.

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