506 N. Coast Hwy.

    Laguna Beach, CA 92651
    • $10,500,000
    • STATUS: ACTIVE
    • ON SITE: 137 days
    • ID#: 301253082
    UPDATED: 16 min ago
    $10,500,000
    • 9
      BEDS
    • 0.32
      ACRES
    • 9
      BATHS
    • 0
      1/2 BATHS
    • 6,000
      SQFT
    • $1,750
      $/SQFT
    Type:
    Condo
    Built:
    1920
    County:

    School Ratings & Info

    Description

    Opportunity knocks! This unique property under the same ownership since 1976 accommodates many different uses. Currently it operates as short term rentals, it could be a home with income, family compound or long term rentals. It is located at the North end of gallery row and minutes to Heisler Park, beach, town and shopping. Comprised of two legal parcels,4 buildings & 2 historic homes. The Myrtle Cottage is 3 bedrooms, 3 baths split into 2 units upstairs is 2 bedrooms, 2 baths, kitchen and sun porch. The Opportunity knocks! This unique property under the same ownership since 1976 accommodates many different uses. Currently it operates as short term rentals, it could be a home with income, family compound or long term rentals. It is located at the North end of gallery row and minutes to Heisler Park, beach, town and shopping. Comprised of two legal parcels,4 buildings & 2 historic homes. The Myrtle Cottage is 3 bedrooms, 3 baths split into 2 units upstairs is 2 bedrooms, 2 baths, kitchen and sun porch. The downstairs complete with caterer's kitchen and large Verandah,/sun room is rented for special events and owners quarters/office. This structure is K rated. The Jacaranda Cottage is a one bedroom one bath single level cottage with large living room, sun porch, kitchen and laundry room it is E rated. They are listed on the inventory of the City of Laguna Beach. They may qualify for Mills Act buyer to do their own investigation. There are two back buildings built in @1940 one with 2 studio apartments and a sleeping room. The other one with 3 one bedroom apartments. There are 8 garages one is converted to laundry and storage. There are 2 other laundry rooms. They surround a large lushly landscaped courtyard that affords great privacy. Seller will only sell the two parcels together. It has been operating as short term rentals since 2001 and pays bed tax to the City of Laguna Beach at 14% of the gross income under 31 days. The permit is grandfathered.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
    www.whisselrealty.com/homes/94461618

    506 N. Coast Hwy. Laguna Beach, CA 92651

    • Price: $10,500,000
    • Status: ACTIVE
    • Updated: 16 min ago
    • ID#: 301253082
    9
    Beds
    9
    Baths
    0
    ½ Baths
    0.32
    Acres
    6,000
    SQFT
    $1,750
    $/SQFT
    1920
    Built
    Neighborhood:
    Oc - Laguna Beach (92651)
    County:
    Orange
    Area:
    Oc - Laguna Beach (92651)
    Property Description
    Opportunity knocks! This unique property under the same ownership since 1976 accommodates many different uses. Currently it operates as short term rentals, it could be a home with income, family compound or long term rentals. It is located at the North end of gallery row and minutes to Heisler Park, beach, town and shopping. Comprised of two legal parcels,4 buildings & 2 historic homes. The Myrtle Cottage is 3 bedrooms, 3 baths split into 2 units upstairs is 2 bedrooms, 2 baths, kitchen and sun porch. The Opportunity knocks! This unique property under the same ownership since 1976 accommodates many different uses. Currently it operates as short term rentals, it could be a home with income, family compound or long term rentals. It is located at the North end of gallery row and minutes to Heisler Park, beach, town and shopping. Comprised of two legal parcels,4 buildings & 2 historic homes. The Myrtle Cottage is 3 bedrooms, 3 baths split into 2 units upstairs is 2 bedrooms, 2 baths, kitchen and sun porch. The downstairs complete with caterer's kitchen and large Verandah,/sun room is rented for special events and owners quarters/office. This structure is K rated. The Jacaranda Cottage is a one bedroom one bath single level cottage with large living room, sun porch, kitchen and laundry room it is E rated. They are listed on the inventory of the City of Laguna Beach. They may qualify for Mills Act buyer to do their own investigation. There are two back buildings built in @1940 one with 2 studio apartments and a sleeping room. The other one with 3 one bedroom apartments. There are 8 garages one is converted to laundry and storage. There are 2 other laundry rooms. They surround a large lushly landscaped courtyard that affords great privacy. Seller will only sell the two parcels together. It has been operating as short term rentals since 2001 and pays bed tax to the City of Laguna Beach at 14% of the gross income under 31 days. The permit is grandfathered.
    Exterior Features

    Exterior StuccoWoodFlagstone Fencing N/K Irrigation Sprinklers Parking Spaces Total 8 Pool N/K Residential Styles All Other Attached Residential Unit Location No Common Walls Roof Composition Site Corner LotLandscapedSprinklers In FrontSprinklers In Rear Spa N/K View OceanTrees/Woods

    Interior Features

    Bath Totals 9 Bedrooms Total 9 Cooling Other/RemarksElectricHigh EfficiencyHumidity ControlDual Equipment Available DishwasherDisposalMicrowaveRefrigerator6 Burner StoveConvection OvenDouble OvenFreezerGas OvenVented Exhaust FanBarbecueWater Line To RefrGas Range Fireplace Fp in Living Room Floor Coverings StoneWood Interior Features Beamed CeilingsCopper Plumbing PartialPantryStone Counters Interior Walls Block/Brick Laundry Location CommunityLaundry Room Searchable Rooms Bedroom Entry LevelGreat RoomOfficeLiving RoomGalley KitchenLaundryWalk-In Pantry Stories 2 Story Water Heater Type GasTankless

    Property Features

    Assessments N/K Home Owners Fees 0 Property Condition Updated/Remodeled Sales Restrictions Standard Sewer Septic Public Sewer Terms CashCash To New Loan Utilities Cable ConnectedElectricity AvailableNatural Gas AvailableWater AvailableSewer Connected Water Public Zoning R3

    Listing provided courtesy of Coldwell Banker Res Brokerage. Listing information © 2019 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS, Inc. Licensed in the state of California.
     
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    3180 University Ave, Suite 600
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