363 Park Avenue Laguna Beach, CA 92651
Listing Courtesy of: CRMLS / Coldwell Banker Realty / Kenneth "Chris" Guziak - Contact:  949-285-0509

  363 Park Avenue Laguna Beach, CA 92651

Active (117 Days)
$4,585,000

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!

MLS #:
LG24154092
Lot Size
6,174 SQFT
Type
Multifamily
Year Built
1923
Views
Hills, Ocean, City Lights
County
Orange County
Community
The Village (Vil)

Listed By

Kenneth "Chris" Guziak, DRE #01487719 CA, Coldwell Banker Realty, Contact: 949-285-0509
Source
CRMLS
Last checked Nov 21 2024 at 7:02 AM GMT+0000
Bathroom Details
Interior Features
  • Laundry: Inside
Subdivision
  • The Village (vil)
Lot Information
  • Walkstreet
  • Back Yard
  • Near Park
  • Near Public Transit
Utility Information
  • Utilities: Water Source: Public
  • Sewer: Public Sewer, Sewer Tap Paid
Stories
  • 1
Additional Information: Laguna Beach | 949-285-0509
Location
   
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Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.