1051 Gaviota Drive, Laguna Beach, California 92651, Laguna Beach, - bed, bath

home-pic
ACTIVE$7,250,000
1051 Gaviota Drive, Laguna Beach, California 92651
4Beds
4Baths
2,750Sqft
6,399Lot
Year Built
1936
Close
-
List price
$7.25M
Original List price
$8.99M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
LG25027904
Home ConditionFair
Features
Excellent View: Catalina, Coastline, Ocean
Deck
ViewCatalina, Coastline, Ocean

About this home

Oceanfront triplex in the heart of Laguna Beach - with a private staircase to Oak Beach just beneath. Meticulously maintained, this approximately 2,750 square foot property features one (1) two-bedroom, two-bathroom unit and two (2) one-bedroom, one-bathroom units. Updated throughout and ready for an investor or an owner-user, 1051 Gaviota Drive offers a great opportunity. The largest of the three spaces is detached and faces the Pacific, guaranteeing privacy and separation for anyone who chooses to reside on the property. All three of the units feature low maintenance, modern updates, outside spaces, and ocean views. The wide beach accessed via a direct staircase, shared onsite laundry, and three off-street parking spaces further add to the appeal. This triplex is located just a block from Coast Hwy, with easy access to all Laguna Beach's conveniences.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (12 Listings)
Beds44
50%
Baths44
50%
Square foot2,7501,827
92%
Lot Size6,3993,920
85%
Price$7.25M$2.5M
92%
Price per square foot$2,636$1,495
92%
Built year19361940
23%
HOA
Days on market271174
92%
Condition Rating
Fair

The property was built in 1936, but the description mentions it has been updated throughout. The kitchens and bathrooms appear functional and maintained, but the style is somewhat dated. The appliances are not high-end or modern. While the property is in overall good shape, it is not recently renovated and shows its age, thus a 'fair' condition score.
Pros & Cons

Pros

Oceanfront Location: Direct oceanfront property with private staircase access to Oak Beach, a highly desirable feature in Laguna Beach.
Income Potential: Triplex configuration with one 2-bedroom unit and two 1-bedroom units provides excellent rental income opportunities for investors.
Updated Units: All three units have been updated with modern finishes, reducing immediate renovation costs for the buyer.
Ocean Views: All units offer ocean views, enhancing their appeal and rental value.
Prime Location: Located in the heart of Laguna Beach, just a block from Coast Hwy, providing easy access to amenities and attractions.

Cons

Year Built: Built in 1936, the property may require ongoing maintenance and potential upgrades due to its age.
Original List Price Reduction: The property has experienced a significant price reduction from its original listing price, which may raise concerns about its market value.
Limited Parking: Only three off-street parking spaces are available for three units, which could be a limitation for tenants or owner-occupants.

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