150 Cress St
Laguna Beach, CA 92651
Cress Street Villas · Multifamily Property For Sale
·
3 Units
Property Facts
| No. Units | 3 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 2,605 SF |
| Property Subtype | Apartment | Average Occupancy | 57% |
| Apartment Style | Low-Rise | No. Stories | 1 |
| Building Class | B | Year Built/Renovated | 1920/2006 |
| Zoning | R3 - Each of the 3 villas are permitted for short term lodging, and NO renewal is needed. Legally allowed to build up to 6, 1500sf condos, approval needed | ||
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 2,605 SF |
| Average Occupancy | 57% |
| No. Stories | 1 |
| Year Built/Renovated | 1920/2006 |
| Zoning | R3 - Each of the 3 villas are permitted for short term lodging, and NO renewal is needed. Legally allowed to build up to 6, 1500sf condos, approval needed |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Ceiling Fans
- Crown Molding
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Grill
- Coffee System
- Double Pane Windows
- Garden
- Linen Closet
- Smoke Free
- Window Coverings
Site Amenities
- Fenced Lot
- Furnished Units Available
- Grill
- Gas Range
- Wi-Fi
- Community-Wide WiFi
- Green Community
About 150 CRESS ST , LAGUNA BEACH, CA 92651
Marcus & Millichap, as the exclusive listing agent, is pleased to present the rare opportunity to acquire Cress Street Villas, 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 a short-term vacation rental with an active transferrable 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.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $9,032 | 770 |
| 3+2 | 2 | $9,032 | 860 - 975 |
Property Taxes
| Parcel Number | 644-074-06 | Improvements Assessment | $142,256 |
| Land Assessment | $8,441,044 | Total Assessment | $8,583,300 |
Property Taxes
