About 150 Cress Street
Incredible opportunity to acquire this well-appointed beachside single family home and duplex at Laguna’s Cress Street Beach. This property possesses one of the only short-term Vacation Rental Permits in Laguna Beach and according to professional management firms it can easily earn $500k - $600k per year in income. Located s teps from the warm sand and clear blue waters of the Pacific Ocean, this property consists of three beautiful beach villas. Villa 1 is 2 bedrooms and 1 bathroom; villa 2 is 3 bedrooms and 2 bathrooms; and villa 3 is 3 bedrooms and 2.5 bathrooms. There is parking available for 6 or more vehicles. Not only is this a serious income producing asset in the heart of Laguna Beach with a 4.18% CAP rate based on actual 2022 rents and a pro forma CAP rate of over 5.25%, it is also perfect as a multi-generational family compound, with separate living areas, multiple outdoor fire pits and it is completely secure behind a beautiful custom gate. In addition, there could be serious upside potential if a second floor is added to the property. Don’t miss out on this rare opportunity to own prime Laguna Beach real estate that pays for itself steps from the ocean.