389 Park AVE, Laguna Beach, CA 92651 – LG24235946

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Mathios Yonan

yonanmathios@gmail.com +1(619) 254-9669

$ 2,595,000

Est. payment | -/mo

3,624 Sqft Lot

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$ 2,595,000

Est. payment | -/mo

Save

3,624 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Subdivision The Village (Vil)

MLS Listing ID LG24235946

HOA Y/N No

Year Built 1923

Lot Size 3,624 Sqft

Property Description

Two separate, fully renovated cottages on a single lot in the heart of downtown Laguna Beach, less than 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97)! The cottages were recently updated with new kitchen and bath fixtures, true wide-plank hardwood floors, new roofs, vaulted ceilings, new lighting, designer window treatments, designer cabinetry and tiles, stone counters, designer wood-burning fireplaces, tankless hot water, individual laundry enclosures, new decks, exterior wood restoration and fresh paint, and gorgeous landscaping. As the cottages are free-standing, they have windows on all sides allowing for ample natural light. They are some of the original Olympic Cottages, brought to Laguna after the Los Angeles Olympics in the 1930s. They are currently rented separately, generating a total of approximately $8,800 in monthly income ($105,600 annually). While iconic in Laguna Beach, these cottages are not yet on the historic register, but are on the city Historic Inventory with a rating of E (Exceptional) - meaning that they could be historically registered, and under the Mills Act, might benefit from substantially reduced property taxes. PLUS -- plans have been submitted to the city for final approval of a 3rd 575-square foot bungalow on property, to be built as an Auxiliary Dwelling Unit (ADU). Plans for the ADU are available. The neighboring, larger property at 363 Park Avenue and 504 Goff Street, which contains three (3) more similar cottages plus a single family ocean-view residence, is available for purchase from the same owner.

Location

State CA

County Orange

Area Lv - Laguna Village

Interior

Interior Features Beamed Ceilings, High Ceilings, Stone Counters

Heating Forced Air

Cooling None

Flooring Wood

Fireplaces Type Living Room

Fireplace Yes

Laundry Laundry Room, Outside

Exterior

Pool None

Community Features Biking, Curbs, Foothills, Hiking, Street Lights, Sidewalks, Urban, Water Sports, Park

Roof Type Composition

Private Pool No

Building

Lot Description Near Park, Walkstreet

Story 1

Entry Level One

Sewer Public Sewer, Sewer Tap Paid

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 64401102

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Listed by Kenneth Guziak • Coldwell Banker Realty • 949-285-0509

+1(619) 254-9669

yonanmathios@gmail.com

La Mesa: 9555 Grossmont Summit Drive, Mesa, CA, 91941