0.32 Acres Lot
0.32 Acres Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision North Laguna (Nl)
MLS Listing ID LG26020416
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1920
Lot Size 0.316 Acres
Property Sub-Type Apartment
Property Description
since 1976, offering exceptional versatility and irreplaceable income potential. Currently operating as a
highly successful short-term rental compound, it may also serve as a private residence with
income, multi generational family compound, or long-term rental investment.
Located at the north end of Gallery Row, the property is minutes to Heisler Park, the beach,
downtown Laguna Beach, shopping, and dining.
Comprised of two legal parcels and four buildings, including two historic cottages listed on the City
of Laguna Beach Historic Inventory. Buyers may qualify for Mills Act benefits, subject to their own
investigation.
The Myrtle Cottage is a 3-bedroom, 3-bath historic residence configured as two units:
• Upper level: 2 bedrooms, 2 baths, kitchen, sun porch
• Lower level: 1 bedroom with caterer's kitchen and expansive veranda/sunroom, used for special
events and owner's quarters or office
The Jacaranda Cottage is a charming single-level 1-bedroom, 1-bath home with large living room,
sun porch, full kitchen, and laundry room.
Two additional rear buildings (circa 1940) include two studio apartments, three one-bedroom
apartments, and an additional sleeping room currently used as storage.
The residences surround a lush, private central courtyard. Amenities include eight garages (one
converted to laundry/storage) and three laundry areas.
Operating continuously as short-term rentals since 2001, the property benefits from a rare,
grandfathered, transferable permit that cannot be obtained again. A 14% Transient Occupancy
Tax is paid to the City of Laguna Beach on stays under 31 days.
Reservations are generated via Airbnb, Expedia, Booking.com, Visit Laguna Beach, and the
property's private website.
Seller will only sell both parcels together. Sale subject to a concurrent 1031 exchange
Location
State CA
County Orange
Area Nl - North Laguna
Zoning R3
Interior
Interior Features Beamed Ceilings, Block Walls, Ceiling Fan(s), Crown Molding, Open Floorplan, Pantry, Stone Counters, Storage, Bedroom on Main Level, Galley Kitchen, Walk-In Pantry
Heating Combination, Wall Furnace
Cooling Dual, Electric, High Efficiency, See Remarks, Wall/Window Unit(s)
Flooring Stone, Wood
Fireplaces Type Living Room
Fireplace Yes
Appliance 6 Burner Stove, Barbecue, Convection Oven, Double Oven, Dishwasher, Free-Standing Range, Freezer, Gas Cooktop, Disposal, Gas Oven, Gas Range, Gas Water Heater, Indoor Grill, Microwave, Refrigerator, Tankless Water Heater, Vented Exhaust Fan, Water To Refrigerator, Water Heater
Laundry Common Area, Laundry Room
Exterior
Exterior Feature Lighting
Garage Spaces 8.0
Garage Description 8.0
Fence None
Pool None
Community Features Street Lights
Utilities Available Cable Connected, Electricity Available, Natural Gas Available, Sewer Connected, Water Available
View Y/N Yes
View Peek-A-Boo, Trees/Woods
Roof Type Composition
Total Parking Spaces 8
Private Pool No
Building
Lot Description Corner Lot, Front Yard, Garden, Sprinklers In Rear, Sprinklers In Front, Lawn, Landscaped, Sprinkler System, Trees
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Bungalow
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 49618107
Energy Description 2500.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Lease Land No
22502 Avenida Empresa, Rancho Santa Margarita, California, 92688, USA