1337 Terrace Way, Laguna Beach, California 92651, Laguna Beach, 92651 - 4 bed, 4 bath
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Laguna Beach, California 92651
This property presents a High-Potential Investment Opportunity with a List Price of $3,395,000—positioned well below the $3,327,038 Fair Market Value by -2%. While the home carries a Condition Rating of 5, the expansive 3,200 sqft floor plan and panoramic ocean and canyon views provide a rare foundation for luxury modernization. Located in the prestigious Laguna Beach Unified district with 9/10 rated schools, this asset is ideal for Value-Add Investors or Owner-Occupants seeking to customize a premier coastal residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1337 Terrace Way Subject | $3,395,000* List Price | 4 | 4 | 3,200 | $1,040 | - |
A 1492 Temple Hills Drive Sold | $3,350,000 | 5 | 5 | 3,618 | $926 | 0.1 mi |
B 1212 Starlit Sold | $2,499,000 | 4 | 3 | 2,117 | $1,180 | 0.5 mi |
C 2555 Temple Hills Drive Sold | $2,700,000 | 3 | 3 | 1,970 | $1,371 | 0.8 mi |
D 2365 Hillview Drive Active | $3,750,000 List Price | 3 | 4 | 2,945 | $1,273 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1968, this 56-year-old home is marketed as an 'opportunity to transform,' which is industry shorthand for a property needing a full rehab. While the interior shows some newer laminate flooring, the dated sunroom, exterior finishes, and original 1960s era systems require significant modernization and structural updates to meet current luxury standards.
Elementary School: Top Of The World Elementary School (9/10). Middle School: Thurston Middle School (9/10). High School: Laguna Beach High School (9/10).
The property boasts breathtaking sit-down ocean and canyon views from the expanded kitchen, sunroom, and expansive deck, providing a quintessential Laguna Beach backdrop.
With 3,200 square feet of living space, the home includes a lower-level bonus suite with a private entrance, kitchenette, and bathroom, offering excellent potential for multi-generational living or guest quarters.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3200, other record living area = 2744.
The property is positioned as a transformation opportunity, suggesting that the 1968 structure requires substantial modernization and capital investment to reach its full potential.
Given the original construction date and the 'fixer' nature of the listing, buyers may face additional costs related to updating older electrical, plumbing, or mechanical systems.
Situated on an expansive, private lot perched just above the Village in Lower Temple Hills, this home presents an exceptional opportunity to transform a spacious residence in an incredible setting. Showcasing breathtaking sit-down ocean and canyon views, the home spans approximately 3200 square feet and features four bedrooms plus a lower-level bonus room or potential mother-in-law suite complete with its own entrance, bathroom, kitchenette, and covered patio and deck area with unforgettable views. The expanded kitchen and sunroom area were thoughtfully designed to take full advantage of the spectacular views, while an expansive deck offers the perfect setting for entertaining against the stunning coastal backdrop. Generous square footage, a flexible floor plan, and an exceptional homesite provide the foundation to create something truly special. Ideally located just moments from downtown Laguna Beach and the renowned beaches that make this community so special.
No exterior & parking available.
Grades K-5 • 1.0 mi
Grades 6-8 • 0.6 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 3,200 | 2,351 |
| Lot Size | 7,373 | 6,231 |
| Price | $3.40M | $3.25M |
| Price per sq ft | $1.1K | $1.7K |
| Built year | 1968 | 1969 |
| HOA | $0 | $3.0K |
| Days on market | 16 | 71 |
Jul 6, 2026
$3,395,000
Initial Listing
Aug 21, 1997
$368,000
Public Record