map Map favorite Favorite share Share image 10 Photos print Print
Photo
Photo Photo

363 Park Avenue

Laguna Beach, CA 92651

$4,585,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1923

calendar_month Built

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 functional non-conforming triplex, with 2 street-level studios rented separately, although they are not recognized by the city. 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 and rented separately. Also at street level is a second studio/office with bathroom, also rented separately. 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 THREE separate standalone bungalows at 363, 371 and 379 Park Avenue. These bungalows are some of the original "Olympic Cottages," brought to Laguna after the Los Angeles 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 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. 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 approximately 659, 692 and 706 square feet. Rent rolls for the property are available.

Listing Information

List Price $4,585,000
Status Active
MLS LG24154092
Type Residential Income
Subtype Mixed Use
Year Built 1923
Lot Size 6,174
Structure Size N/A
DOM 96
Courtesy Of Coldwell Banker Realty
Listing Agent Kenneth (Chris) Guziak DRE#01487719

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

home_work Nearby Properties

Image

$4,585,000

king_bed 19
shower 7
straighten 3,960
straighten 5,998
363 Park Avenue,

Laguna Beach, CA 92651
Image

$4,695/month

king_bed 2
shower 1
straighten 670
straighten 1,000
363 Park Ave.,

Laguna Beach, CA 92651
Image

$4,995/month

king_bed 2
shower 1
straighten 650
straighten 800
397 Park,

Laguna Beach, CA 92651
Image

$3,400/month

king_bed 1
shower 1
straighten 604
straighten 6,098
525 Catalina , #H,

Laguna Beach, CA 92651
Image

$3,600/month

king_bed 1
shower 1
straighten 604
straighten 6,098
525 Catalina , #B,

Laguna Beach, CA 92651

Listing information courtesy of: Kenneth (Chris) Guziak, Coldwell Banker Realty 949-285-0509. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 30th, 2024 at 9:45 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.