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Laguna Beach,CA 92651
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,960 sqft
Price per Sqft $1,132
Subdivision The Village (Vil)
MLS Listing ID LG24217955
Bedrooms 11
Full Baths 7
Year Built 1923
Lot Size 5,998 Sqft
Property Description
Unique multi-structure residential property in the heart of downtown Laguna Beach, less than 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97)! Property includes 4 structures - a larger 2-level main home on 504 Goff Street, PLUS 3 separate income-generating cottages or guest houses on Park Avenue! This is a rare opportunity to live in a sizable ocean-view home in the heart of downtown, and benefit from income from the multiple other units on the property.
The main home has 3 bedrooms and 2 bathrooms on the upper level, all recently remodeled, with ocean views from the main living spaces, and a large deck in the rear and a covered patio and yard. At street level are TWO studios, each with a bathroom and one with kitchenette, and separate entrances, currently detached from the upstairs space. Also at street level is a 2-car garage. As such, building on Goff currently serves as a triplex, with the 2 street-level studios rented separately, although they are non-conforming - the city considers the building to be single-family. One or both of the studios could be reconnected to the upstairs living space. Plans have been submitted to the city to recognize one as an ADU. This larger structure has a total of about 1903 square feet of living space - upstairs space is approximately 1273, the larger studio about 414, and the smaller studio about 216. In addition to the 2-car garage, there are 2 off-street private parking spaces.
In addition to the larger home. on Goff, the property includes THREE separate standalone bungalows at 363, 371 and 379 Park Avenue. These bungalows are some of the original "Olympic Cottages," brought to Laguna after the Los Angeles Olympics in the 30s and completely restored with updated kitchens and baths. They are all rented separately. While iconic in Laguna Beach, these cottages are not on the historic register, but are on the city 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. Each of the standalone bungalows is 1 or 2 bedrooms with wood-burning fireplace, private laundry, front porch and private rear deck. Each standalone bungalow is approx. 659, 692 and 706 square feet. Rent rolls for the property are available.
The adjoining parcel, 389 & 397 Park Ave, containing 2 similar cottages, plus plans for a 3rd ADU cottage, is available for purchase from the same owner!
Location
State CA
County Orange
Area Lv - Laguna Village
Interior
Cooling None
Fireplaces Type Living Room,See Remarks
Laundry See Remarks
Exterior
Parking Features Driveway Level,Garage,Off Street,On Street
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Street Lights,Sidewalks,Urban,Marina
View Y/N Yes
View City Lights,Hills,Ocean
Building
Lot Description Corner Lot,Near Public Transit,Walkstreet,Yard
Dwelling Type Quadruplex
Story 2
Sewer Public Sewer,Sewer Tap Paid
Water Public
New Construction No
Schools
School District Laguna Beach Unified
Others
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard