385 Mermaid Street

Laguna Beach, CA 92651

PRICE REDUCED

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-$200,000 (-5.01%)

$3,795,000

List Price

4

bed Beds

4

shower Baths

2,000 sqft

straighten / sqft

1946

calendar_month Built

Property Description

Situated in the picturesque heart of The Village in Laguna Beach is a lucrative, turnkey investment opportunity: a triplex bathed in coastal charm and superbly located. The property is spread across four stories, including the garage and boasts excellent walkability near high-end dining, boutique shopping, five-star resorts, and top-rated schools, creating an oasis of comfort, style, and convenience. Each of the three units has a unique allure, characterized by significant outdoor square footage, beamed ceilings and hardwood floors. The units' kitchens, each adorned with stainless steel appliances, add a touch of modern elegance and functionality. Nestled on the lowest level, Unit A offers a two-bedroom, one-bathroom layout. Serenity defines this space, from its peaceful bedrooms to its outdoor deck that provides city light and neighborhood views—an ideal spot to unwind or entertain. Unit B, located on the middle level, unfolds as a flexible studio with one bathroom and an outdoor patio, a canvas for creative personalization. It can serve as a home office, an artist's studio, or a guest suite; the potential is unlimited. Ascending to the upper unit, you'll find Unit C, mirroring Unit A with two tranquil bedrooms and one full bathroom. With its extraordinary income-earning potential, all three units can be fully leased for consistent earnings, or partially occupied with the remaining units rented out. Completing the residence is a rare four-car attached garage with storage cabinets plus 2 uncovered spaces. Bridging the unique charm of Laguna Beach living with a compelling investment opportunity, this coastal triplex is an incredible find.

Listing Information

List Price $3,795,000
Status Active
MLS NP23225178
HOA $0
Type Residential
Subtype Triplex
Year Built 1946
Lot Size 2,614
Structure Size 2,000
DOM 224
Courtesy Of Coldwell Banker Realty
Listing Agent Tim Smith DRE#01346878

Interior Features

Laundry Information
Location(s) Inside, Stacked
Total Bedroom
Bedrooms 4
Total Bathroom
Bathrooms 4
Flooring Information
Material Wood
Fireplace Information
Features None
Additional Information
Additional Features Beamed Ceilings, Furnished, Recessed Lighting
Cooling Type
Cooling Type Central Air, Wall/Window Unit(s)

Exterior Information

Other Structures
Features Deck, Patio
View Yes

Maps

Listing information courtesy of: Tim Smith, Coldwell Banker Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Jun 4th, 2024 at 8:39 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.