This is an extraordinary opportunity to live steps to Cress Street Beach in world famous Laguna Beach, or a builders dream property, and build up to 6, 1500sf luxury ocean view condos, easily valued at $16,500,000 combined. Currently, there are 2 ocean view homes on 1 oversized lot. The first home is a 3 Bedroom 2.5 bath 1400sf, completely detached, single level, and the second home is an 1800sf Duplex with amazing ocean views. The 3 elegantly appointed, and fully furnished ocean-view villas, 120, 130, & 150 Cress Street are set on an expansive and meticulously hardscaped lot. Perfectly suited for an exquisite owner-occupied residence, or for the most discerning real estate investor. This remarkable property allows the owner to enjoy one of the most coveted beach house locations in Southern California, with the option to occupy both homes, or rent the duplex. What's more impressive, all 3 Villas are permitted for vacation rentals. Currently operating as an investment property, earning in excess of $400,000 annually, or perfect for the buyer that wants to live in paradise, while effortlessly earning $250,000+ from the duplex. The short term lodging permits will never expire! The centerpiece of this extraordinary ensemble, is of course, the primary villa, 150 Cress Street, it is a sophisticated single-level residence offering 3 spacious bedrooms and 2.5 opulent baths. This villa includes a private 1-car garage and a gated driveway accommodating up to 3 vehicles. The Duplex features 3 bedrooms and 2 baths, and 2 bedrooms with 1 bath respectively, they share a separate two-car garage, accessed from an entirely different street, ensuring privacy and tranquility for the primary villa. This is a once in a lifetime opportunity. Your dream of owning a piece of paradise awaits, motivated seller, will not last long.
For sale
Listing Provided by:
Derek Larson DRE #01294200 949-677-4121,
California Dream Luxury Homes & Investments
Price cut: $1.2M (8/23)
$8,249,000
150 Cress St, Laguna Beach, CA 92651
8beds
3,300sqft
Est.:
Triplex
Built in 1955
-- sqft lot
$8,660,300 Zestimate®
$2,500/sqft
$-- HOA
What's special
Amazing ocean viewsSeparate two-car garageSophisticated single-level residenceGated drivewaySingle levelOpulent baths
- 47 days
- on Zillow |
- 773 |
- 15 |
Zillow last checked: 7 hours ago
Listing updated: August 23, 2025 at 05:42pm
Listing Provided by:
Derek Larson DRE #01294200 949-677-4121,
California Dream Luxury Homes & Investments
Source: CRMLS,MLS#: OC25149921
Originating MLS: California Regional MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 6
- Full bathrooms: 5
- 1/2 bathrooms: 1
- Main level bathrooms: 3
- Main level bedrooms: 3
Rooms
- Room types: Bedroom, Primary Bedroom
Primary bedroom
- Features: Main Level Primary
Bedroom
- Features: Bedroom on Main Level
Cooling
- Ductless
Appliances
- Laundry: Stacked
Features
- Bedroom on Main Level, Main Level Primary
- Has fireplace: Yes
- Fireplace features: Family Room
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 3,300 sqft
Video & virtual tour
Property
Parking
- Total spaces: 3
- Parking features: Garage - Attached
- Attached garage spaces: 3
Features
- Levels: One
- Stories: 1
- Entry location: Street
- Pool features: None
- Has view: Yes
- View description: Ocean
- Has water view: Yes
- Water view: Ocean
Lot
- Size: 7,241 Square Feet
- Features: Corner Lot
Details
- Parcel number: 64407406
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Condition
- New construction: No
- Year built: 1955
Utilities & green energy
- Sewer: Sewer Tap Paid
- Water: Public
Community & HOA
Community
- Features: Biking, Hiking
Location
- Region: Laguna Beach
Financial & listing details
- Price per square foot: $2,500/sqft
- Tax assessed value: $8,250,000
- Annual tax amount: $86,172
- Date on market: 7/7/2025
- Listing terms: Cash,Cash to New Loan,Conventional
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