389 Park Avenue Active Save Request In-Person Tour Request Virtual Tour
Laguna Beach,CA 92651
Key Details
Property Type Townhouse
Sub Type Townhome
Listing Status Active
Purchase Type For Sale
Square Footage 986 sqft
Price per Sqft $2,631
MLS Listing ID LG24235093
Style Townhome
Bedrooms 4
Full Baths 2
Construction Status Turnkey,Updated/Remodeled
HOA Y/N No
Year Built 1923
Lot Size 3,624 Sqft
Acres 0.0832
Property Description
Two separate, fully renovated cottages on a single lot in the heart of downtown Laguna Beach, less than 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97)! The cottages were recently updated with new kitchen and bath fixtures, true wide-plank hardwood floors, new roofs, vaulted ceilings, new lighting, designer window treatments, designer cabinetry and tiles, stone counters, designer wood-burning fireplaces, tankless hot water, individual laundry enclosures, new decks, exterior wood restoration and fresh paint, and gorgeous landscaping. As the cottages are free-standing, they have windows on all sides allowing for ample natural light. They are some of the original Olympic Cottages, brought to Laguna after the Los Angeles Olympics in the 1930s. They are currently rented separately, generating a total of approximately $8,800 in monthly income ($105,600 annually). While iconic in Laguna Beach, these cottages are not yet 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. PLUS -- plans have been submitted to the city for final approval of a 3rd 575-square foot bungalow on property, to be built as an Auxiliary Dwelling Unit (ADU). Plans for the ADU are available. The neighboring, larger property at 363 Park Avenue and 504 Goff Street, which contains three (3) more similar cottages plus a single family ocean-view residence, is available for purchase from the same owner.
Two separate, fully renovated cottages on a single lot in the heart of downtown Laguna Beach, less than 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97)! The cottages were recently updated with new kitchen and bath fixtures, true wide-plank hardwood floors, new roofs, vaulted ceilings, new lighting, designer window treatments, designer cabinetry and tiles, stone counters, designer wood-burning fireplaces, tankless hot water, individual laundry enclosures, new decks, exterior wood restoration and fresh paint, and gorgeous landscaping. As the cottages are free-standing, they have windows on all sides allowing for ample natural light. They are some of the original Olympic Cottages, brought to Laguna after the Los Angeles Olympics in the 1930s. They are currently rented separately, generating a total of approximately $8,800 in monthly income ($105,600 annually). While iconic in Laguna Beach, these cottages are not yet 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. PLUS -- plans have been submitted to the city for final approval of a 3rd 575-square foot bungalow on property, to be built as an Auxiliary Dwelling Unit (ADU). Plans for the ADU are available. The neighboring, larger property at 363 Park Avenue and 504 Goff Street, which contains three (3) more similar cottages plus a single family ocean-view residence, is available for purchase from the same owner.
Location
State CA
County Orange
Area Oc - Laguna Beach (92651)
Interior
Interior Features Stone Counters
Flooring Wood
Fireplaces Type FP in Living Room
Laundry Closet Full Sized,Outside
Exterior
View Mountains/Hills,Trees/Woods,City Lights
Building
Lot Description Curbs,Sidewalks,Landscaped
Story 1
Lot Size Range 1-3999 SF
Sewer Public Sewer,Sewer Paid
Water Public
Architectural Style Cottage,Craftsman/Bungalow
Level or Stories 1 Story
Construction Status Turnkey,Updated/Remodeled
Others
Monthly Total Fees $178
Miscellaneous Urban
Acceptable Financing Cash,Seller May Carry,Cash To New Loan
Listing Terms Cash,Seller May Carry,Cash To New Loan
Special Listing Condition Standard