PROPERTY DETAILS | LAGUNA BEACH HOMES FOR SALE | MILLS ACT HOMES
Mills Act properties in the downtown core are a popular topic on the LALoftBlog.com . It is a great place to find a valuable property in an amazing historic building that qualifies for the mills act tax savings. Some are fixer uppers that need some work others are already luxury lofts in a turnkey state. We want to point out to everyone that eligible properties can be found all over the state. It is fun to see them in other locations. A breathtaking beachfront home in Laguna Beach, once owned by Betty Davis, is one of these showcase properties.
The two-time Academy Award winner was at the pinnacle of her formidable career when she bought the home in 1947 as an escape from the Hollywood paparazzi, living there until 1950.
Sitting on a bluff overlooking rocky Woods Cove, a five-minute drive south of Laguna, this 5,400-square-foot, six-bedroom French Normandy-style house perches high above the cove, with private-access steps leading to a sandy beach.
A $3 million price chop might help Bette Davis’ former Laguna Beach home finally sell.
Canadian investment manager Richard Wernham has put the 5,472-square-foot home at 1991 Ocean Way on the market for $16.995 million, according to Dirt.
The oceanfront mansion, built in 1929, was added to the National Register of Historic Places in 1982. Being a historic home, the property comes with a renewable 10-year Mills Act contract that allows homeowners to receive attractive benefits, including substantially reduced property taxes, in exchange for preserving the home. #millsact #bettedavis
Fill out the online form to get Mills Act Properties on the market in DTLA or any area.
The former Davis property is not the only home in the prestigious coastal city to see price reductions in recent months. This month, a 1998-built home in Laguna Beach sold for $37.5 million after it was first put on the market in July for $48.9 million, in what was the third-priciest deal across Orange County this year.
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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.