389 Park Avenue

Laguna Beach, CA 92651

$2,595,000

List Price

4

bed Beds

2

shower Baths

986 sqft

straighten / sqft

1923

calendar_month Built

Open Houses

Next available: Wednesday, November 20th, 2024 10:00 am - 1:00 pm

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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.

Listing Information

List Price $2,595,000
Status Active
MLS LG24235093
HOA $0
Type Residential
Subtype Duplex
Year Built 1923
Lot Size 3,624
Structure Size 986
DOM 1
Courtesy Of Coldwell Banker Realty
Listing Agent Kenneth Guziak DRE#01487719

Interior Features

Laundry Information
Location(s) Laundry Closet, Outside
Total Bedroom
Bedrooms 4
Total Bathroom
Bathrooms 2
Flooring Information
Material Wood
Fireplace Information
Features Living Room
Additional Information
Additional Features High Ceilings, Stone Counters
Cooling Type
Cooling Type None

Exterior Information

Other Structures
Features Deck, Front Porch
View Yes

Maps

Listing information courtesy of: Kenneth Guziak, Coldwell Banker Realty 949-285-0509. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 16th, 2024 at 7:14 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.