506 N. Coast Hwy., Laguna Beach

$10,500,000

0 Beds
0 Baths
6,000 Sqft
.32 Acres
8 Garages

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.

Essential Information
MLS® #LG19096378
Price$10,500,000
Bathrooms0.00
Square Footage6,000
Acres0.32
Year Built1920
TypeResidential Income
StyleBungalow
StatusActive
Community Information
Address506 N. Coast Hwy.
AreaNorth Laguna (NL)
SubdivisionNorth Laguna (NL)
CityLaguna Beach
CountyOrange
StateCA
Zip Code92651
Amenities
Parking Spaces8
# of Garages8
Interior
HeatingCombination, Wall Heater
FireplaceYes
# of Stories2
StoriesTwo
Appliances

Dishwasher, Free Standing Range, Gas Range, Gas Water Heater, Microwave, 6 Burner Stove, Barbecue, Convection Oven, Double Oven, Freezer, Garbage Disposal, Gas Oven, Grill, Gas Stove, Refrigerator, Tankless Water Heater, Vented Exhaust Fan, Water Heater Unit, Water Line to Refrigerator

Cooling

Dual, Electric, High Efficiency, See Remarks, Wall or Window Units

Exterior
RoofComposition
Lot Description

Front Yard, Lawn, Lot 10000-19999 Sqft, Garden, Landscaped, Corner Lot, Sprinklers In Front, Sprinklers In Rear, Sprinkler System, Treed Lot

Additional Information
Date ListedMay 6th, 2019
Days on Market167
ZoningR3
Listing Details
AgentConnie Maxsenti(00482592)
OfficeColdwell Banker Res Brokerage

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Based on information from California Regional Multiple Listing Service, Inc. as of October 20th, 2019 at 11:01pm 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.

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