Active

385 Mermaid Street

Laguna Beach CA, 92651

$3,695,000


$1,847.50 per sqft

Active

4 Beds

4 Baths

2,000 sqft

Multi-family

Built in 1946

Listed by Tim Smith with Coldwell Banker Realty 949.478.2295

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.

NP23225178

MLS ID

January 2, 2024

Listed

December 5, 2024

Updated

Map

385 Mermaid Street
Laguna Beach CA, 92651

Interior Features

Total Stories

4


Bedrooms

4


Total Bathrooms

4


Full Bathrooms

4


Interior Features

Beamed Ceilings, Furnished, Recessed Lighting


Appliances

Dishwasher, Freezer, Gas Cooktop, Refrigerator, Range Hood


Laundry Description

Inside, Stacked


Floor Description

Wood


Fireplace

No


Fireplace Description

None


Cooling

Yes


Cooling Description

Central Air, Wall/Window Unit(s)


Heating

Yes


Heating Description

Forced Air

Exterior/Building Features

Lot Size

0.06 Acres


Lot Features

0-1 Unit/Acre


Sewer

Public Sewer

School Information

School District

Laguna Beach Unified


High School

Laguna Beach


Elementary School

El Morro

Other Property Details

Area Name

LV - Laguna Village


Days on Market

337


Garage

Yes


Garage Spaces

4


Parking

Garage Faces Front, Garage


Parking Total

6


View

Yes


View Description

City Lights


County

Orange


Water Source

Public


Pool

No


Pool Features

None

Listing History

Date

Event

Price

10/21/2024

Price change

$3,695,000

-3%

6/3/2024

Price change

$3,795,000

-6%

Listing Contact: 949-644-1600 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 12/5/2024 at 3:19 AM UTC

 

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