506 N. Coast Hwy., Laguna Beach, CA 92651

$10,500,000
9
BD
9
BA
6,000
SqFt
List Price
$10,500,000
Status
ACTIVE
MLS#
LG19104268
Year Built
1920
Bedrooms
9
Bathrooms
9
Living Sq. Ft
6,000
Lot Size
13,774
Acres
0.3162
Lot Location
Corner Lot, Front Yard, Garden, Landscaped, Lawn, Lot 10000-19999 Sqft, Sprinkler System, Sprinklers In Front, Sprinklers In Rear, Treed Lot
Days on Market
17
Property Type
Multifamily
Property Sub Type
Quadruplex
Stories
Two Level
Neighborhood
North Laguna (Nl)

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 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.

Additional Information

Tract Number
412
Lot Description
Street Lights
Appliances
6 Burner Stove, Barbecue, Convection Oven, Dishwasher, Double Oven, Free-Standing Range, Freezer, Disposal, Gas Oven, Gas Range, Gas Cooktop, Gas Water Heater, Indoor Grill, Microwave, Refrigerator, Tankless Water Heater, Vented Exhaust Fan, Water Heater, Water Line to Refrigerator
Pool Description
None
Fireplace Description
Living Room
Heat
Wall Furnace
Cooling Description
None
View
Ocean, Trees/Woods
Roof
Composition
Garage Spaces Total
8
Sewer
Public Sewer
Water
Public
School District
Laguna Beach Unified
Elementary School
Elmor
Middle School
Thurst
High School
Lagbea
Attached Structure
Detached
Total Number of Units
8

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Connie Maxsenti from Coldwell Banker Res Brokerage

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.