• 385 Mermaid Street Laguna Beach, CA 92651

  • $3,995,000
  • 4
    Bed(s)
  • 4
    Baths
  • 2,000
    Sq Ft
  • 2614
    Sqft
  • Listed By: Tim Smith, Coldwell Banker Realty, DRE #01346878
  • Source: CRMLS

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.

Property Type :

Residential

Subdivision :

Fallbrook

County :

Orange

Style :

Residential

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Property Details

 

Bedroom Information

Total Bedrooms : 4

Bathroom Information

Total Baths: 4

Full Baths: 4

Water/Sewer

Water Source : Public

Sewer : Public Sewer

Interior Features

Interior Features: Beamed Ceilings,Furnished,Recessed Lighting

Property Appliances: Dishwasher,Freezer,Gas Cooktop,Refrigerator,Range Hood

Fireplace: None

Flooring: Wood

Cooling Features

Central Air,Wall/Window Unit(s)

Air Conditioning

Heating Source

Forced Air

Has Heating

Fireplace

Fireplace Features: None

Has Fireplace: 0

Building Information

Year Built: 1946

Pool Features

None

Laundry Features

Inside,Stacked

Patio And Porch

Deck,Patio

Lot Details

Lot Dimensions Source: Vendor Enhanced

Lot Size Acres: 0.06

Lot Size Source: Assessor

Lot Size Square Feet: 2614

Listing Price Information

Original List Price: 3,995,000

Listing Contract Date: 2023-12-07

Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 64126506

Garage and Parking

Garage Description: Garage Faces Front,Garage

Attached Garage: Yes

Homeowners Association

Rental Info

Lease Term: Negotiable

Other Property Info

Source Listing Status: Active

Source Neighborhood: LV - Laguna Village

Postal Code Plus 4: 2383

Directions: Cross Streets: Glenneyre and 2nd

Source Property Type: Residential

Area: LV - Laguna Village

Property SubType: Triplex

Building and Construction

Property Age: 78

Common Walls: No Common Walls

Structure Type: Triplex

Year Built Source: See Remarks

Total Square Feet Living: 2000

Entry Level: 2

Entry Location: 2

Levels or Stories: Three Or More,Multi/Split

Structure Type: Triplex

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
67 Emerald Bay, Laguna Beach, CA,92651 $10,500,000 -- -- -- 6534 Sqft
810 Santa Ana St, Laguna Beach, CA,92651 $599,000 -- -- -- 9300 Sqft
11 Montage Way, Laguna Beach, CA,92651 $37,700,000 5 6 9,305 14749 Sqft
826 Diamond Street, Laguna Beach, CA,92651 $649,000 -- -- -- 4792 Sqft
22172 Rico Road, Laguna Beach, CA,92651 $12,000,000 4 3 3,700 8375 Sqft
1340 Moorea Way, Laguna Beach, CA,92651 $3,995,000 -- -- -- 34404 Sqft
2800 Ocean Front, Laguna Beach, CA,92651 $14,995,000 8 8 5,112 9583 Sqft
28911 Sommet Du Monde, Laguna Beach, CA,92651 $8,995,000 4 3 3,855 11674 Sqft
1021 Gaviota Drive, Laguna Beach, CA,92651 $8,000 2 1 900 4356 Sqft
708 Cliff Drive, Laguna Beach, CA,92651 $6,500 2 1 1,152 --

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ByOwner last updated this listing 04/29/2024 @ 03:21

MLS: NP23225178
LISTED BY: Tim Smith, Coldwell Banker Realty
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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