150 Cress Street

  • Laguna Beach

  • $7,800,000
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Residential Income Details

Description
Cress Street Villas is a 3-unit multifamily investment property located in Laguna Beach, one of the premier coastal housing markets nationwide. Cress Street Villas is currently being operated as short-term rentals with an active transferable AUP (administrative use permit). Built in 1920 and 1955, Cress Street Villas offers investors the opportunity to capitalize on strong market trends, capture a prosperous tenant base, and exceptional renovations that should increase rental income by approximately 10 percent. Situated on a 0.16-acre lot, the 2,605 square foot property consists of two-bedroom and three-bedroom villas offering ocean views. Cress Street Villas offers an attractive range of amenities including spacious patios with outdoor seating, BBQ area, and ocean views, gated access, in-unit laundry; and garage parking and open parking. Cress Street Villas is just steps from Laguna Beach.
Essential
MLS #OC18194507
Price$7,800,000
Number of Units3
Sale TypeStandard
StatusActive
Listing BrokerageMarcus & Millichap RE Invest
Listing AgentTyler Leeson
Listing Agent BRE #01451551
Co-Listing AgentKurt Hediger
Co-Listing Agent BRE #01846649
Interior
Exterior
Garage Spaces1
PoolNone
Community
AreaLV - Laguna Village
TractSouth Laguna Bluffs (SLB)
CommunitySidewalks
Address150 Cress Street
CityLaguna Beach
CountyOrange
StateCA
ZipCode92651
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Monday, August 20, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.