Rarely do we see a detached single family home come on the market in Laguna Beach for under $4 million dollars but this week buyers have the opportunity to own a home directly above the sandy beach in South Laguna. 31081 Coast, Laguna Bech is currently on the market for $3,999,000. It was listed 7 days ago and is the talk of the town among local real estate agents and buyers alike. The 3 bedroom, 2 bath home features 1,536 square feet and located on a 6,750 ocean front lot that offers beach access.
A lot of buyers have been asking us what is the catch? Well, the home was built in 1956 and is being sold "as-is" and for land value which means the actual interior living space is possibly far from turnkey. This is a one level home that can be seen in the far right side of the photos featured below. The location is really ideal as it sits just south of the Montage Resort which is located at the point just north of this location. It's also located several doors down from the famous "Rock House" which just sold for $6.5 million back in November of last year.
Currently, detached ocean front single family homes start at $5,275,000 for a 3 bedroom, 3 bath home with 2,200 square feet and located just down the street from this location at 31935 Coast. In doing research on what ocean front homes have sold for in the last 6 months the range is from $4 to $10 million. The home that sold for $4 million was located at 31893 Circle Drive and was originally listed at $4,995,000. It was on the market for a total of 168 days and was negotiated down almost $1 million dollars. The next lowest sale was the Rock House as mentioned above for the $6.5 million dollars. In essence, deals do come on the market from time to time but finding something priced under $4 million dollars right out of the gate is truly exceptional. For more information on this home or an ocean front property on the market please contact us at 949-355-1622 today.
Update one month later: After posting this article the home at 31081 Coast, Laguna Beach received multiple offers and sold for $125,000 over asking price with a final sales price of $4,125,000 and closed escrow on 04/12/2017.