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

home-pic
ACTIVE$8,995,000
319 Cypress Drive, Laguna Beach, California 92651
0Bed
0Bath
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
LG25093897
Home ConditionGood
Features
Good View: City Lights, Hills, Neighborhood, Ocean, Water
Deck
Patio
ViewCity Lights,Hills,Neighborhood,Ocean,Water

About this home

Stunning North Laguna property in coveted "Tree Streets" neighborhood. Total of six units including an elegant primary residence comprised of 3 bedrooms and two baths, great room, ocean views, patios, decks and professional landscaping. All new interiors. Attached to the SFR is a two level ocean view apartment which could be combined with the main residence. Then, at the rear of the property and accessed by Cedar Way, is the detached four-unit residential building. This structure is comprised of two 1-bedroom apartments and two large studio apartments. All new interiors also. Between the two property structures is a stunning garden & patio area providing a combination of entertainment and privacy for the environment. The primary residence has a two car garage and spacious driveway from Cypress. The rear structure offers two single garages, parking spaces, storage and large laundry room. Legal as a six-unit property, the options and opportunities are many for personal use and/or residential income. 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 is a very special, landmark-style compound.

Condition Rating
Good

The property was built in 1951 but the description states "All new interiors." The images show modern interiors and well-maintained exteriors. While the building is older, the recent renovations bring it to a 'good' condition, move-in ready with no immediate renovation required.
Pros & Cons

Pros

Income Potential: Legal six-unit property offers significant income potential through a combination of long-term rentals or short-term vacation rentals.
Prime Location: Located in the desirable 'Tree Streets' neighborhood of North Laguna, close to downtown, Main Beach, Heisler Park, restaurants, galleries, and shops.
Ocean Views: The property boasts ocean views from the main residence and the attached apartment, enhancing its desirability and market value.
New Interiors: Both the primary residence and the detached four-unit building feature newly renovated interiors, reducing immediate renovation costs.
Flexible Use: The property offers flexibility for personal use, residential income, or a combination of both, catering to a variety of potential buyers.

Cons

Year Built: Built in 1951, the property may require ongoing maintenance and potential upgrades to meet modern standards and building codes.
High Price Point: The list price of $8,995,000 positions the property in a high-end market segment, potentially limiting the pool of qualified buyers.
Lot Size: The lot size of 6,000 sqft, while adequate, may be considered small for a property with six units, potentially impacting outdoor space and privacy for residents.

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