389 Park Avenue, Laguna Beach, CA 92651 - MLS#LG24235093

See all 14 photos

14 photos

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Nicole Hazelton

[email protected] +1(619) 206-1892

$2,595,000

Est. payment - /mo

4 Beds

2 Baths

986 SqFt

Save

UPDATED:

11/21/2024 05:13 AM

Key Details

Property Type Townhouse

Sub Type Townhome

Listing Status Active

Purchase Type For Sale

Square Footage 986 sqft

Price per Sqft $2,631

MLS Listing ID LG24235093

Style Townhome

Bedrooms 4

Full Baths 2

Construction Status Turnkey,Updated/Remodeled

HOA Y/N No

Year Built 1923

Lot Size 3,624 Sqft

Acres 0.0832

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.
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

Area Oc - Laguna Beach (92651)

Interior

Interior Features Stone Counters

Flooring Wood

Fireplaces Type FP in Living Room

Laundry Closet Full Sized, Outside

Exterior

View Mountains/Hills, Trees/Woods, City Lights

Building

Lot Description Curbs, Sidewalks, Landscaped

Story 1

Lot Size Range 1-3999 SF

Sewer Public Sewer, Sewer Paid

Water Public

Architectural Style Cottage, Craftsman/Bungalow

Level or Stories 1 Story

Construction Status Turnkey,Updated/Remodeled

Others

Monthly Total Fees $178

Miscellaneous Urban

Acceptable Financing Cash, Seller May Carry, Cash To New Loan

Listing Terms Cash, Seller May Carry, Cash To New Loan

Special Listing Condition Standard

Read Less Info

Listed by Coldwell Banker Realty

Get More Information

Nicole Hazelton

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

Quick Search