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Listed by Kenneth Guziak • Coldwell Banker Realty
$2,595,000
Est. payment /mo
4 BD
2 BA
986 SqFt
Active Under Contract
389 Park Avenue Laguna Beach, CA 92651
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UPDATED:
11/26/2024 06:01 PM
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 986 sqft
Price per Sqft $2,631
Subdivision The Villages (The Villas) - 188306
MLS Listing ID LG-24235093
Style Bungalow,Cottage
Bedrooms 4
Full Baths 2
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
Interior
Interior Features High Ceilings, Stone Counters
Heating Forced Air
Cooling None
Flooring Wood
Fireplaces Type Living Room
Laundry In Closet, Outside
Exterior
Pool None
Community Features Biking, Curbs, Hiking, Park, Sidewalks, Street Lights, Urban, Watersports
View Y/N Yes
View City Lights, Hills, Trees/Woods
Building
Lot Description Landscaped, Walkstreet
Sewer Public Sewer, Sewer Paid
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