Nearly four acres of oceanfront land in Laguna Beach lists for $46.5M
The cliffside property is pitched as the opportunity to build a “grand estate”
Nearly four acres of prime oceanfront dirt in Laguna Beach has hit the market for $46.5 million.
The cliffside property at 32201 Coast Highway includes 11 parcels, three small homes, and 320 feet of ocean frontage with beach access, according to the Los Angeles Daily News.
While it could remain a compound or likely be further divided, the listing from Compass’ Robert Giem pitches it as an opportunity “for a grand estate.”
“The homes presently on site are modest dwellings, and the best use of the property is to transform the site into a wonderful oceanfront estate,” the listing reads.
The property has a private road leading off the Pacific Coast Highway to its three homes. There is also a basketball court and several terraces with views from the cliffs over the Pacific Ocean.
Paths lead down the cliffs to a terrace with a saltwater pool as well.
Laguna Beach is one of the priciest real estate markets among Orange County’s already pricey cities.
There are plenty of oceanfront mansions for wealthy buyers to choose from in Laguna Beach, but most sit on relatively small parcels. The size of the Coast Highway property and its development potential stands out from the others.
The listing is currently the second-priciest in Laguna Beach. A 10,000-square-foot mansion on a half-acre on the city’s north end is asking $49 million. A similarly sized mansion nearby — also on a half-acre of land — is asking $41.5 million.
[LADN] — Dennis Lynch