$10,500,000 - 506 N. Coast Hwy., Laguna Beach

  • 0Beds
  • Baths
  • 6,000SQ. Feet
  • 0.32Acres

Opportunity knocks! This unique property under the same ownership since 1976 accommodates many different uses. Currently it operates as short term rentals, it could be a home with income, family compound or long term rentals. It is located at the North end of gallery row and minutes to Heisler Park, beach, town and shopping. Comprised of two legal parcels,4 buildings & 2 historic homes. The Myrtle Cottage is 3 bedrooms, 3 baths split into 2 units upstairs is 2 bedrooms, 2 baths, kitchen and sun porch. The downstairs complete with caterer's kitchen and large Verandah,/sun room is rented for special events and owners quarters/office. This structure is K rated. The Jacaranda Cottage is a one bedroom one bath single level cottage with large living room, sun porch, kitchen and laundry room it is E rated. They are listed on the inventory of the City of Laguna Beach. They may qualify for Mills Act buyer to do their own investigation. There are two back buildings built in @1940 one with 2 studio apartments and a sleeping room. The other one with 3 one bedroom apartments. There are 8 garages one is converted to laundry and storage. There are 2 other laundry rooms. They surround a large lushly landscaped courtyard that affords great privacy. Seller will only sell the two parcels together. It has been operating as short term rentals since 2001 and pays bed tax to the City of Laguna Beach at 14% of the gross income under 31 days. The permit is grandfathered.

Sales Agent

Sam Smith TeamLaguna Beach Realtors ®Phone: 949-355-1622Cell: 949-355-1622Contact Agent Now

Essential Information

  • MLS® #:LG19096378
  • Price:$10,500,000
  • Bathrooms:0.00
  • Square Footage:6,000
  • Acres:0.32
  • Year Built:1920
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:506 N. Coast Hwy.
  • Area:North Laguna (NL)
  • Subdivision:North Laguna (NL)
  • City:Laguna Beach
  • County:Orange
  • State:CA
  • Zip Code:92651

Amenities

  • Parking Spaces:8
  • # of Garages:8

Interior

  • Appliances:Dishwasher, Garbage Disposal, Refrigerator, 6 Burner Stove, Barbecue, Convection Oven, Double Oven, Free Standing Range, Freezer, Gas Oven, Gas Range, Grill, Gas Stove, Gas Water Heater, Microwave, Tankless Water Heater, Vented Exhaust Fan, Water Heater Unit, Water Line to Refrigerator
  • Heating:Wall Heater
  • Cooling:None
  • Fireplace:Yes
  • # of Stories:2
  • Stories:Two

Exterior

  • Lot Description:Front Yard, Garden, Lawn, Landscaped, Lot 10000-19999 Sqft, Corner Lot, Sprinklers In Front, Sprinklers In Rear, Sprinkler System, Treed Lot
  • Roof:Composition

Additional Information

  • Date Listed:May 6th, 2019
  • Days on Market:12
  • Zoning:R3

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Provided By: Connie Maxsenti(00482592), Coldwell Banker Res Brokerage.

Based on information from California Regional Multiple Listing Service, Inc. as of May 19th, 2019 at 1:57pm PDT. 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, 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.