506 N. Coast Hwy., Laguna Beach

$10,500,000

9 Beds
9 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® #LG19104268
Price$10,500,000
Bedrooms9
Bathrooms9.00
Full Baths2
Square Footage6,000
Acres0.32
Year Built1920
TypeResidential
Sub-TypeQuadruplex
StatusActive
Community Information
Address506 N. Coast Hwy.
AreaNorth Laguna (NL)
SubdivisionNorth Laguna (NL)
CityLaguna Beach
CountyOrange
StateCA
Zip Code92651
Amenities
Parking Spaces8
# of Garages8
ViewOcean View, Trees/Woods View
PoolNone
Utilities

Electricity Available, Natural Gas Available, Sewer Connected, Water Available, Cable Connected

Interior
HeatingWall Heater
FireplaceYes
FireplacesLiving Room
# of Stories2
StoriesTwo
Interior Features

Beamed Ceilings, Block Walls, Ceiling Fan, Crown Moldings, Open Floor Plan, Pantry, Stone Counters, Storage Space, Drywall Walls, Copper Plumbing Partial

Appliances

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

Cooling

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

Exterior
Exterior FeaturesLighting
RoofComposition
Exterior

Drywall Walls, Flagstone, Stucco, Wood, Board & Batten Siding

Lot Description

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

Construction

Drywall Walls, Flagstone, Stucco, Wood, Board & Batten Siding

School Information
DistrictLaguna Beach Unified
ElementaryELMOR
MiddleTHURST
HighLAGBEA
Additional Information
Date ListedMay 6th, 2019
Days on Market167
ZoningR3
HOA Fees0.00
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 21st, 2019 at 9:02am 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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