385 Mermaid Street Laguna Beach, CA 92651
Listing Courtesy of: CRMLS / Coldwell Banker Realty / Timothy "Tim" Smith - Contact:  949.478.2295

  385 Mermaid Street Laguna Beach, CA 92651

Active (357 Days)
$3,695,000
4
BED
4
BATH
2,000
SQFT

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.

MLS #:
NP23225178
Lot Size
2,614 SQFT
Type
Multifamily
Year Built
1946
Views
City Lights
School District
Laguna Beach Unified
County
Orange County
Community
The Village (Vil)

Listed By

Timothy "Tim" Smith, DRE #01346878 CA, Coldwell Banker Realty, Contact: 949.478.2295
Source
CRMLS
Last checked Dec 24 2024 at 3:44 PM GMT+0000
Bathroom Details
  • Full Bathrooms: 4
Interior Features
  • Furnished
  • Recessed Lighting
  • Laundry: Inside
  • Dishwasher
  • Refrigerator
  • Freezer
  • Laundry: Stacked
  • Beamed Ceilings
  • Gas Cooktop
  • Range Hood
Subdivision
  • The Village (Vil)
Heating and Cooling
  • Forced Air
  • Wall/Window Unit(s)
  • Central Air
Flooring
  • Wood
Utility Information
  • Utilities: Water Source: Public
  • Sewer: Public Sewer
School Information
  • Elementary School: El Morro
  • Middle School: Thurston
  • High School: Laguna Beach
Parking
  • Garage
  • Garage Faces Front
Living Area
  • 2,000 sqft
Additional Information: Newport Beach | 949.478.2295
Location
   
Calculate drive times to this property
 
Powered by INRIX® Drive Time

Powered by Walk Score®

Listing Price History

Date
Event
Price
% Change
$ (+/-)
Oct 21, 2024
Price Changed
$3,695,000
-3%
-100,000
Jun 03, 2024
Price Changed
$3,795,000
-5%
-200,000
Dec 07, 2023
Original Price
$3,995,000
-
-
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. 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. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.