319 Cypress Drive, Laguna Beach, California 92651, Laguna Beach, - bed, bath

home-pic
ACTIVE$8,995,000
319 Cypress Drive, Laguna Beach, California 92651
5Beds
3Baths
4,000Sqft
6,000Lot
Year Built
1951
Close
-
List price
$8.99M
Original List price
$8.99M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
LG25064715
Home ConditionGood
Features
Good View: Catalina, Hills, Ocean, Water
Deck
Patio
ViewCatalina, Hills, Ocean, Water

About this home

Fabulous property located in coveted North Laguna “Tree Streets” neighborhood. The primary residence is classic Cape Cod architecture and includes fully remodeled interiors with three bedrooms, two baths and an adjoining two-level ocean view guest quarters. Beyond the residence and through the courtyard presents the large, detached residential four-plex accessed from Cedar Way. The home offers high end designer finishes throughout the bright interiors and boasts a new gourmet kitchen and adjacent glassed family room. Ocean views from upper levels including a large entertainment deck. The private exterior courtyard provides a wonderful indoor/outdoor lifestyle for this elegant residence. The main residence has a spacious driveway and over-sized two car garage facing Cypress. All four Cedar Way units are beautifully remodeled and comprises two studio apartments and two 1-bedroom apartments with new kitchens and baths in each. Also, the rear structure provides additional garage space, laundry room and property storage. Legal as a six-unit complex, the property has a multitude of options - particularly as large residence for part-time/full-time use and supplemented with an attractive income stream from the four or five apartments. Located near Aster and Cypress, the site is ideal for strolling to downtown Laguna, Main Beach, Heisler Park and a multitude of restaurants, galleries and shops. This a very special, landmark-style compound.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (138 Listings)
Beds53
90%
Baths33
50%
Square foot4,0002,015
94%
Lot Size6,0005,581
55%
Price$8.99M$3.15M
93%
Price per square foot$2,249$1,571
83%
Built year19511965
28%
HOA
Days on market225198
63%
Condition Rating
Good

The property was built in 1951 but the description mentions fully remodeled interiors with a new gourmet kitchen and baths in each of the four apartments. The images show modern kitchens and bathrooms. While the property is older, the extensive remodeling brings it to a 'good' condition.
Pros & Cons

Pros

Income Potential: The property is legally a six-unit complex, offering significant income potential through the main residence and four additional apartments.
Prime Location: Located in the desirable North Laguna 'Tree Streets' neighborhood, close to downtown Laguna Beach, Main Beach, Heisler Park, restaurants, galleries, and shops.
Ocean Views: The property boasts ocean views from upper levels, including a large entertainment deck, enhancing its desirability.
Remodeled Interiors: Both the main residence and the four apartments have been beautifully remodeled with high-end designer finishes, new kitchens, and baths.
Versatile Use: The property can be used as a large primary residence with supplemental income or as a full-time investment property.

Cons

Year Built: Built in 1951, the property may require ongoing maintenance and potential upgrades due to its age.
Lot Size: The lot size is 6,000 sqft, which might be considered small for a property with a main residence and a four-plex.
Price Point: The list price of $8,995,000 positions it in the luxury market, potentially limiting the pool of buyers.

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