Laguna Beach, CA 92651,363 Park AVE
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Laguna Beach, CA 92651,363 Park AVE,Video Tour
Laguna Beach, CA 92651,363 Park AVE
Laguna Beach, CA 92651,363 Park AVE
Laguna Beach, CA 92651,363 Park AVE
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363 Park AVE Laguna Beach, CA 92651

4,261 SqFt


UPDATED:

10/01/2024 04:48 PM

Key Details

Property Type Commercial

Sub Type Commercial/Residential

Listing Status Active

Purchase Type For Sale

Square Footage 4,261 sqft

Price per Sqft $1,076

Subdivision The Village (Vil)

MLS Listing ID LG24154092

HOA Y/N No

Year Built 1923

Lot Size 6,172 Sqft

Acres 0.1417

Property Description

Unique investment property in the heart of downtown Laguna Beach, just 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97). Property consists of a triplex at 502/504 Goff Street -- plus 3 standalone bungalows at 363, 371 and 379 Park Avenue. Triplex has a larger ocean view penthouse apartment upstairs, a studio underneath, as well as a 2nd, non-conforming studio at street level. Plans have been submitted to expand the non-conforming studio into a larger Auxiliary Dwelling Unit (ADU). This plan includes expanding the neighboring legal studio into a 1-bedroom unit with higher rent potential. ADU expansion plans would convert the existing 2-car garage. New owner may complete the ADU approval and finish it out as desired. The 3 bungalows are among the original "Olympic Cottages," brought to Laguna after the Los Angeles Olympics in the 30s and completely restored with updated kitchens and baths. These cottages are not 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, could benefit from substantially reduced property taxes. The upstairs 3-bedroom apartment at 504 Goff is approximately 1273 square feet and has a large private deck in the rear and ocean views from the front. Each of the standalone bungalows is 1 or 2 bedrooms with wood-burning fireplace, private laundry, front porch and private rear deck. In addition to architectural plans for the ADU apartment and lot partitioning, owner has modernized the electrical systems for all the units.

Location

State CA

County Orange

Area Lv - Laguna Village

Interior

Laundry Inside

Exterior

Garage Spaces 2.0

Pool None

Community Features Biking, Curbs, Hiking, Park, Sidewalks, Street Lights, Urban

View Y/N Yes

View City Lights, Hills, Ocean

Private Pool No

Building

Lot Description Back Yard, Near Public Transit, Park Nearby, Walkstreet

Story 2

Sewer Public Sewer, Sewer Paid

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Special Listing Condition Standard

Confidential INFO

TERMS Cash,Cash To New Loan

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

SHOW CONTACT TYPE Agent

SHOW CONTACT NAME Chris

SHOW CONTACT PH 9492850509

SHOW INSTRUCTIONS Contact Chris at 949.285.0509 for viewing information. Please do not disturb tenants. Property currently has 5 legal units with a 6th non-conforming studio, which is being expanded and legitimized as an ADU. ADU plans include adding square footage to the already legal neighboring studio. Both units will be 1-bedroom per the plan. All 6 units are currently rented under market: pro-forma rents as-is are $23,825 monthly = $285,900 annual, with ADU/expansion $311,700 annual. Neighboring parcel contains 2 cottages identical to the 3 on this property; they are being remodeled by the same owner and may also be for sale - please call for details.


CRMLS Plus
Listed by Coldwell Banker Realty

Candice Blair

Broker Associate | License ID: 01395953 ‌

+1(949) 466-0620

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363 Park AVE