Mohr Real Estate Group

Mohr Real Estate Group

363 Park Avenue Laguna Beach CA 92651 MLS #LG24154092

There are multiple listings for this address:
363 Park Avenue
Laguna Beach, CA, 92651
$4,485,000
Beds
0 Baths
SqFt
0.14 Acres
Add
Add
$4,485,000
363 Park Avenue
Laguna Beach, CA, 92651
MLS #LG24154092 img 0

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! Currently there are six tenants on property – this is a rare income opportunity with great cash flow in the downtown district and potential upside.

The single-family home on Goff now serves as a non-conforming triplex, with 2 street-level studios rented separately. One or both of the studios could be reconnected to the upstairs living space to create a larger SFR if desired. The main home has 3 bedrooms and 2 bathrooms on the upper level, all recently remodeled, with ocean views from the main living spaces, a large deck in the rear and a covered patio and yard. At street level is a studio/bedroom with bathroom and kitchenette and a separate entrance, detached from the upstairs space. Also at street level is a second studio/office with bathroom. Plus a 2-car garage. Plans have been submitted to the city to recognize one of the studios as an Auxiliary Dwelling Unit (ADU). Altogether the home on Goff has 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, meeting current requirements for the ADU.

In addition to the larger home. on Goff, the property includes 3 separate standalone bungalows at 363, 371 and 379 Park Avenue. These bungalows are some of the original "Olympic Cottages," brought to Laguna after the LA 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 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 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!

Property Details

Price:
$4,485,000
MLS #:
LG24154092
Status:
Active
Baths:
0
Address:
363 Park Avenue
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
The Village VIL
Neighborhood:
lvlagunavillage
City:
Laguna Beach
Listed Date:
Jul 25, 2024
State:
CA
ZIP:
92651
Lot Size:
6,174 sqft / 0.14 acres (approx)
Year Built:
1923

Schools

Interior

Exterior

Community Features
Biking, Curbs, Hiking, Park, Sidewalks, Street Lights, Urban
Garage Spaces
2.00
Lot Features
Back Yard, Near Public Transit, Park Nearby, Walkstreet
Parking Spots
6.00
Pool Features
None
Sewer
Public Sewer, Sewer Paid
Spa Features
None
Stories Total
2
View
City Lights, Hills, Ocean
Water Source
Public

Financial

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Similar Listings Nearby

363 Park Avenue
Laguna Beach, CA
363 Park Avenue
Laguna Beach, CA, 92651
$4,485,000
11 Beds
7 Baths
3,960 SqFt
0.14 Acres
Add
Add
$4,485,000
363 Park Avenue
Laguna Beach, CA, 92651
MLS #LG24217955 img 0MLS #LG24217955 img 1MLS #LG24217955 img 2MLS #LG24217955 img 3MLS #LG24217955 img 4MLS #LG24217955 img 5MLS #LG24217955 img 6MLS #LG24217955 img 7MLS #LG24217955 img 8MLS #LG24217955 img 9

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! Currently there are six tenants on property – this is a rare income opportunity with great cash flow in the downtown district and potential upside.

The single-family home on Goff now serves as a non-conforming triplex, with 2 street-level studios rented separately. One or both of the studios could be reconnected to the upstairs living space to create a larger SFR if desired. The main home has 3 bedrooms and 2 bathrooms on the upper level, all recently remodeled, with ocean views from the main living spaces, a large deck in the rear and a covered patio and yard. At street level is a studio/bedroom with bathroom and kitchenette and a separate entrance, detached from the upstairs space. Also at street level is a second studio/office with bathroom. Plus a 2-car garage. Plans have been submitted to the city to recognize one of the studios as an Auxiliary Dwelling Unit (ADU). Altogether the home on Goff has 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, meeting current requirements for the ADU.

In addition to the larger home. on Goff, the property includes 3 separate standalone bungalows at 363, 371 and 379 Park Avenue. These bungalows are some of the original "Olympic Cottages," brought to Laguna after the LA 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 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 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!

Property Details

Price:
$4,485,000
MLS #:
LG24217955
Status:
Active
Beds:
11
Baths:
7
Address:
363 Park Avenue
Type:
Single Family
Subtype:
Commercial/Residential
Subdivision:
The Village VIL
Neighborhood:
lvlagunavillage
City:
Laguna Beach
Listed Date:
Oct 20, 2024
State:
CA
Finished Sq Ft:
3,960
ZIP:
92651
Lot Size:
5,998 sqft / 0.14 acres (approx)
Year Built:
1923

Schools

Interior

Exterior

Community Features
Biking, Curbs, Hiking, Park, Sidewalks, Street Lights, Urban
Garage Spaces
2.00
Lot Features
Back Yard, Near Public Transit, Park Nearby, Walkstreet
Parking Spots
6.00
Pool Features
None
Sewer
Public Sewer, Sewer Paid
Spa Features
None
Stories Total
2
View
City Lights, Hills, Ocean
Water Source
Public

Financial

Need more info?

If you have any questions about this property, we at the Mohr Group would be happy to answer them. Click the button below and send us a message.

Ask a Question

Ready to go see it?
Schedule a Showing

Mortgage Calculator

 

Similar Listings Nearby

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