Active
363 Park Avenue
Laguna Beach CA, 92651
$4,585,000
$1,076.04 per sqft
Active
4,261 sqft
Multi-family
Built in 1923
Listed by Kenneth (Chris) Guziak with Coldwell Banker Realty 949-285-0509
Unique investment property in the heart of downtown Laguna Beach, just 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97). Property consists of a triplex at 502/504 Goff Street -- plus 3 standalone bungalows at 363, 371 and 379 Park Avenue. Triplex has a larger ocean view penthouse apartment upstairs, a studio underneath, as well as a 2nd, non-conforming studio at street level. Plans have been submitted to expand the non-conforming studio into a larger Auxiliary Dwelling Unit (ADU). This plan includes expanding the neighboring legal studio into a 1-bedroom unit with higher rent potential. ADU expansion plans would convert the existing 2-car garage. New owner may complete the ADU approval and finish it out as desired. The 3 bungalows are among the original "Olympic Cottages," brought to Laguna after the Los Angeles Olympics in the 30s and completely restored with updated kitchens and baths. These cottages are not 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, could benefit from substantially reduced property taxes. The upstairs 3-bedroom apartment at 504 Goff is approximately 1273 square feet and has a large private deck in the rear and ocean views from the front. Each of the standalone bungalows is 1 or 2 bedrooms with wood-burning fireplace, private laundry, front porch and private rear deck. In addition to architectural plans for the ADU apartment and lot partitioning, owner has modernized the electrical systems for all the units.
LG24154092
MLSⓇ ID
July 26, 2024
Listed
October 17, 2024
Updated
Map
363 Park Avenue
Laguna Beach CA, 92651
Interior Features
Total Stories
1
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.14 Acres
Lot Features
Back Yard, Near Park, Near Public Transit, Walkstreet
Sewer
Public Sewer, Sewer Tap Paid
Other Property Details
Area Name
LV - Laguna Village
Days on Market
67
Garage
Yes
Garage Spaces
2
Parking Total
6
View
Yes
View Description
City Lights, Hills, Ocean
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Listing Contact: 949-499-1320
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Data last updated on 10/17/2024 at 10:18 AM UTC