Courtesy of California Dream Luxury Homes & Investments, Derek Larson 949-677-4121
Property Description
PRICED TO SELL! This is an extraordinary opportunity to live steps to Cress Street Beach in world famous Laguna Beach, or a builders dream property, and build up to 6, 1500sf luxury ocean view condos, easily valued at $16,500,000 combined. Currently, there are 2 ocean view homes on 1 oversized lot. The first home is a 3 Bedroom 2.5 bath 1400sf, completely detached, single level, and the second home is an 1800sf Duplex with amazing ocean views. The 3 elegantly appointed, and fully furnished ocean-view villas, 120, 130, & 150 Cress Street are set on an expansive and meticulously hardscaped lot. Perfectly suited for an exquisite owner-occupied residence, or for the most discerning real estate investor. This remarkable property allows the owner to enjoy one of the most coveted beach house locations in Southern California, with the option to occupy both homes, or rent the duplex. What’s more impressive, all 3 Villas are permitted for vacation rentals. Currently operating as an investment property, earning in excess of $400,000 annually, or perfect for the buyer that wants to live in paradise, while effortlessly earning $250,000+ from the duplex. The short term lodging permits will never expire! The centerpiece of this extraordinary ensemble, is of course, the primary villa, 150 Cress Street, it is 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 Duplex features 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, they share a s
Open House
Property Details and Features
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Bathrooms
- 6 total bathrooms
- 5 full bathrooms
- 1 half bathroom
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Bedrooms
- 8 total bedrooms
- 8 possible bedrooms
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Building
- Built in 1955
- Building area total: 3300
- 1 stroy
- 1 story total
- Living area: 3300
- Living area units: Sqft
- Building area units: Sqft
- Entry level: 1
- “No Common Walls”
- “1 Story”
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Fireplaces
- “FP in Family Room”
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Garage
- 3 spaces
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Water Features
- Water source: “Public”
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Listing
- Listing ID: OC25233708
- List price: $6,994,950
- 1 day on market
- Listing contract date: 2025-10-06
- Special listing conditions: “Standard”
- “Cash”
- “Conventional”
- “Cash To New Loan”
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Location
- Subdivision: The Village (VIL)
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Lot
- 7,241 size sqft
- Size area: 0.1662
- Size units: Acres
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Parking
- Total: 3
-
Pool
- “N/K”
-
Property
- Property subtype: Detached
- Property type: Residential
- “Ocean”
-
Sewer
- “Sewer Paid”
