363 Park Avenue

Laguna Beach, CA 92651

$4,585,000
Price
8
Beds
7
Baths
4,261 Sq. Ft.
$1,076 / Sq. Ft.
4,261
Sq. Ft.
$1,076
per Sq. Ft.

Description

Unique multi-structure residential property in the heart of downtown Laguna Beach, less than 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97)! Property includes 4 structures - a larger 2-level main home on 504 Goff Street, PLUS 3 separate income-generating cottages or guest houses on Park Avenue! Currently there are six tenants on property - this is a rare income opportunity with great cash flow in the downtown district and potential upside. The single-family home...Unique multi-structure residential property in the heart of downtown Laguna Beach, less than 2 blocks from Forest Avenue Promenade, Hotel Laguna and Main Beach (Walkscore 97)! Property includes 4 structures - a larger 2-level main home on 504 Goff Street, PLUS 3 separate income-generating cottages or guest houses on Park Avenue! Currently there are six tenants on property - this is a rare income opportunity with great cash flow in the downtown district and potential upside. The single-family home on Goff now serves as a non-conforming triplex, with 2 street-level studios rented separately. One or both of the studios could be reconnected to the upstairs living space to create a larger SFR if desired. The main home has 3 bedrooms and 2 bathrooms on the upper level, all recently remodeled, with ocean views from the main living spaces, a large deck in the rear and a covered patio and yard. At street level is a studio/bedroom with bathroom and kitchenette and a separate entrance, detached from the upstairs space. Also at street level is a second studio/office with bathroom. Plus a 2-car garage. Plans have been submitted to the city to recognize one of the studios as an Auxiliary Dwelling Unit (ADU). Altogether the home on Goff has about 1903 square feet of living space - upstairs space is approximately 1273, the larger studio about 414, and the smaller studio about 216. In addition to the 2-car garage, there are 2 off-street private parking spaces, meeting current requirements for the ADU. In addition to the larger home. on Goff, the property includes 3 separate standalone bungalows at 363, 371 and 379 Park Avenue. These bungalows are some of the original "Olympic Cottages," brought to Laguna after the LA Olympics in the 30s and completely restored with updated kitchens and baths. They are all rented separately. While iconic in Laguna Beach, these cottages are not on the historic register, but are on the city Inventory with a rating of E (Exceptional) - meaning that they could be registered, and under the Mills Act, might benefit from substantially reduced property taxes. Each of the standalone bungalows is 1 or 2 bedrooms with wood-burning fireplace, private laundry, front porch and private rear deck. Each standalone bungalow is approx. 659, 692 and 706 square feet. Rent rolls are available. The adjoining parcel, 389 & 397 Park Ave, containing 2 similar cottages, plus plans for a 3rd ADU cottage, is available for purchase from the same owner!
  1. Listed by Kenneth Guziak • DRE #01487719 • Brokerage DRE #00616212 • Coldwell Banker Realty • 949-285-0509

Property Details for 363 Park Avenue

View
City Lights, Hills, Ocean
Parking Spaces Total
6
Private Pool
No
Total Units
6.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4261
Assessor Parcel Number
644-011-01
LISTING UPDATED: 11/16/2024 05:40 AM

Property Details for 363 Park Avenue

StatusActive
MLS #LG24154092
Days on Market145
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1923
Lot Size0.14 AC / 6,174 SF
CountyOrange County

Virtual Tour

Building Information for 363 Park Avenue

Stories2Residences-Year Built1923Building Size-Lot Size0.14 AC / 6,174 SF

Property Information for 363 Park Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $236,500
  • Gross Scheduled Income: $236,500
  • Net Operating Income: $187,300
Expense Details
  • Operating Expense: $49,200
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $48,000
  • Professional Management Expense: $0
  • Other Expense: $1,200
  • Other Expense Description: gardenin
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $48,000
Tax / Assessment Info
  • Tax Tract Number: 410
  • Tax Census Tract: 626.05
  • Tax Lot: 89
Community / Development
Community / Development
  • Community Features: Biking, Curbs, Hiking, Park, Sidewalks, Street Lights, Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: street/upstairs
  • View Description: City Lights, Hills, Ocean
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: Back Yard, Near Public Transit, Park Nearby, Walkstreet
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer, Sewer Paid
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: The Village
  • Builders Tract Code: The Village (VIL)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,995
  • Unit Type Total Rent: $3,995
  • Unit Type Pro Forma: 4250
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,200
  • Unit Type Total Rent: $3,200
  • Unit Type Pro Forma: 4250
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,695
  • Unit Type Total Rent: $3,695
  • Unit Type Pro Forma: 3750
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,265
  • Unit Type Total Rent: $1,265
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,055
  • Unit Type Total Rent: $1,055
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $6,500
  • Unit Type Total Rent: $6,500
  • Unit Type Pro Forma: 6825
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 6
  • Rent Controlled: No
  • Number Of Buildings: 4
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6

Property History for 363 Park Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 363 Park Avenue

Taxable ValueLand$3,151,149Additions$131,466Total$3,282,615
Tax Record2024$37,276 ($3,106 / month)
Home Facts
Beds1Total Finished SqFt453 SqFtAbove Grade Finished SqFt453 SqFtStories1Lot Size6,174 SqFtStyleSingle Family ResidenceYear Built1923CountyORANGEAPN644-011-01Fireplace TypeHas Fireplace

Schools near 363 Park Avenue

This home is within Laguna Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - K to 3
Rating
School
Distance
El Morro Elementary School
PublicK to 5

Thurston Middle School
Public6 to 8

Laguna Beach High School
Public9 to 12

LEA Stone
PrivateK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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363 Park Avenue is a mixed use property for sale in Laguna Beach, CA 92651. This property was listed for sale on July 25, 2024 by Coldwell Banker Realty, it's currently listed at $4,585,000. This listing's school district is Laguna Beach Unified School District. Nearby schools include El Morro Elementary School, Thurston Middle School and Laguna Beach High School. 363 Park Avenue is a 8-bed, 7-bath, 4,261 sqft mixed use property built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Kenneth Guziak, DRE #01487719

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.