1337 Terrace Way, Laguna Beach, California 92651, Laguna Beach, 92651 - 4 bed, 4 bath
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1337 Terrace Way
Laguna Beach, California 92651
ACTIVE
CONDITION: FAIR
4Beds
4Baths
3,200Sq Ft
7,373Lot Size
Property Price
LIST PRICE$3,395,000
EST. MARKET VALUE
$3,511,295
3% BelowMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $3,395,000—positioned well below the $3,472,679 Fair Market Value by 2%. This valuation gap offers $77,679 in Instant Equity. Featuring a 4-bedroom, 4-bath layout with a versatile lower-level suite and breathtaking ocean views, the home has a Condition Rating of 4, requiring modernization. Located in the Laguna Beach Unified district with top-rated schools, this is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking a transformation project.
Estimated Market Value
$3,511,295+$116,295 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Laguna Beach.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1337 Terrace Way Subject | $3,395,000* List Price | 4 | 4 | 3,200 | $1,097 | - |
A 790 Wendt Terrace Sold | $2,400,000 | 4 | 4 | 2,371 | $1,012 | 0.2 mi |
B 1492 Temple Hills Drive Sold | $3,350,000 | 5 | 5 | 3,618 | $926 | 0.1 mi |
C 1598 Skyline Drive Sold | $4,225,000 | 3 | 4 | 3,543 | $1,192 | 0.6 mi |
D 1212 Starlit Sold | $2,499,000 | 4 | 3 | 2,117 | $1,180 | 0.5 mi |
E 2147 Crestview Drive Sold | $3,250,000 | 4 | 3 | 2,461 | $1,321 | 0.8 mi |
F 2100 Crestview Drive Sold | $3,700,000 | 3 | 3 | 2,926 | $1,265 | 0.7 mi |
G 2555 Temple Hills Drive Sold | $2,700,000 | 3 | 3 | 1,970 | $1,371 | 0.8 mi |
H 2365 Hillview Drive Active Under Contract | $2,999,000 List Price | 3 | 4 | 2,945 | $1,018 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1968 with a kitchen and sunroom expansion that appears to be 20-30 years old. While the home has updated laminate flooring, the oak cabinetry, tile countertops, and overall aesthetic are dated and require modernization. The listing description specifically identifies it as an 'opportunity to transform,' indicating it is functional but needs updates.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
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).
- Exceptional Coastal Views
The property boasts breathtaking sit-down ocean and canyon views from multiple vantage points, including the expanded kitchen, sunroom, and expansive entertaining deck.
- Versatile Floor Plan
The 3,200 sq. ft. layout includes a dedicated lower-level suite with its own entrance, kitchenette, and bathroom, providing excellent potential for multi-generational living or a guest wing.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3200, other record living area = 2744.
- Significant Updating Required
The property is marketed as a transformation opportunity, indicating that the 1968 residence likely requires a comprehensive remodel to align with modern luxury expectations.
- Potential Infrastructure Costs
Due to the home's age, buyers may face additional expenses to upgrade original electrical, plumbing, or HVAC systems to meet current standards and efficiency.
About 1337 Terrace Way
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1968
- Lot Size
- 7,373 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Laguna Beach Unified Schools
Top Of The World Elementary School
Grades K-5 • 1.0 mi
9/10
Thurston Middle School
Grades 6-8 • 0.6 mi
9/10
Laguna Beach High School
Grades 9-12 • 0.5 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.6 |
| Baths | 4.0 | 3.0 |
| Square foot | 3,200 | 2,244.917 |
| Lot Size | 7,373 | 6,150.208 |
| Price | $3.40M | $3.48M |
| Price per sq ft | $1.1K | $1.7K |
| Built year | 1968 | 1973 |
| HOA | $0 | $4.6K |
| Days on market | 65 | 73 |
Pricing History
Listed for Sale
Jul 6, 2026
$3,395,000
Initial Listing
Sold
Aug 21, 1997
$368,000
Public Record