Skip To Content

389 Park Avenue

Laguna Beach, CA 92651
  • $2,595,000
  • STATUS: Active Under Contract
  • ON SITE: 17 Days
  • ID#: LG24235093
Under Contract
UPDATED: 60 min ago
$2,595,000
  • 4
    BEDS
  • 0.08
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 986
    SQFT
  • $2,632
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1923
County:

School Ratings & Info

School District:
Listing Agent(s): Kenneth Guziak of Coldwell Banker Realty (949-499-1320)


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.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-12-03T20:31:37.733. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.
www.inlandempiresold.com/homes/157923330
Print Image

389 Park Avenue Laguna Beach, CA 92651

  • Price: $2,595,000
  • Status: Active Under Contract
  • On Site: 17 Days
  • Updated: 60 min ago
  • ID#: LG24235093
4
Beds
2
Baths
0
½ Baths
0.08
Acres
986
SQFT
$2,632
$/SQFT
1923
Built
Neighborhood:
The Village (Vil)
County:
Orange
Area:
LV - Laguna Village
School District:
Laguna Beach Unified
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.
Exterior Features

Architectural Style BungalowCottage Entry Level 1 Entry Location Street Lot Features LandscapedWalkstreet Parking Features PublicOn Street Parking Total 0 Patio And Porch Features DeckFront Porch Pool Features None Pool Private YN No Property Attached YN No Sign On Property YN Yes View City LightsHillsTrees/Woods View YN Yes

Interior Features

Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features Living Room Fireplace YN Yes Flooring Wood Heating Forced Air Heating YN Yes Interior Features High CeilingsStone Counters Main Level Bathrooms 2 Main Level Bedrooms 4 Window Features Custom Covering(s)

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features BikingCurbsHikingParkStreet LightsSidewalksUrbanWater Sports Garage YN No Land Lease YN No Laundry Features Laundry ClosetOutside Lease Considered YN No Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanOwner May Carry New Construction YN No Property Condition Updated/RemodeledTurnkey Property Sub Type Duplex Senior Community YN No Sewer Public SewerSewer Tap Paid Special Listing Conditions Standard Structure Type Duplex Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-12-03T20:31:37.733. 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 deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_373630553-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_373630553-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_373630553-2.jpg
Logo
RE/MAX Empire Properties
street
Hemet CA, 92545
Listing Agent(s): Kenneth Guziak of Coldwell Banker Realty (949-499-1320)