387 Oak Street, Laguna Beach, CA 92651

$2,250,000
Sold Price
$2,250,000
List Price
$2,295,000
Closing Date
Nov 28, 2023
Status
CLOSED
MLS#
OC23086632
Year Built
1928
Lot Size
3,000
Acres
0.07
Lot Location
Corner Lot, Front Yard, Level, Paved, Rectangular Lot, Zero Lot Line
Days on Market
162
Property Type
Single Family Residential
Style
Mediterranean, Spanish
Property Sub Type
Single Family Residence
Stories
Two Levels
Neighborhood
The Village (Vil)

Property Description

Absolutely an exceptional investment/residential opportunity located within 3 blocks to the "sand" and the Pacific Ocean! Significantly under-rented in this location!! ALL tenancies ‘month to month’. This Laguna Village residence located within the heart of the "HIP" District, "Historic and Interesting Places"... this 7 block stretch along the Pacific Coast Hwy boasts 24 restaurants, 40 boutique shops as well as 20 art galleries and 5 hotels!! This single family residence currently contains 2 additional "legal, non-conforming" use rental properties that are currently occupied. Situated at approximately the corners of Oak St and Glenneyre, this 1560sqft home affords itself to numerous possibilities for its future use...This property resides on a 3000sqft corner lot which is walking distance to 4 of the top 10 surfing beaches in Laguna Beach and is currently listed on the Historic Property register in the city of Laguna Beach and may be subject to the benefits of the Mills Act for taxation purposes. A property like this rarely comes on the market every 50 years and is an outstanding opportunity for future renovation, remodeling and restoration. This corner lot configuration also offers a 2 car driveway, an enclosed yard area as well as a balcony located off a second floor living unit. Physical floor plan includes a main residence with hardwood floors, fire place, 2 bedrooms/ 2 baths as well as 2 additional studio units containing kitchens, bath, sleeping area and private access. This is absolutely a "lifestyle" property which offers "walkability" to all of the most desirable areas in Laguna Beach! This is truly all about location! Location! Location!

Additional Information

Appliances
Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, Refrigerator, Water Heater
Pool Description
None
Fireplace Description
Living Room, Wood Burning
Heat
Fireplace(s), Wood, Wall Furnace
Cooling Description
None
View
Ocean, Peek-A-Boo
Exterior Construction
Stucco
Roof
Spanish Tile, Tile
Sewer
Public Sewer
Water
Public
Interior Features
Balcony, Block Walls, Tile Counters, Bedroom on Main Level, Galley Kitchen
Attached Structure
Detached
Number Of Units Total
3
Gross Scheduled Income
$5,500
Operating Expense
765

Listing courtesy of Listing Agent: Bob Wolff (bob@bobwolff.com) from Listing Office: Harcourts Prime Properties.

Listing sold by Yazen Haddad from DirectPads

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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.