
Laguna Beach, California 92651
This High-Potential Investment Opportunity, known as the historic "Hangover House," is listed at $7,500,000—positioned well below the $7,624,472 Fair Market Value by 1.6%. This valuation gap offers $124,472 in Instant Equity. Featuring a Condition Rating of 5, the property requires interior finishing, yet offers massive upside through its 360-degree ocean views and an adjacent 10,000 sqft lot with approved plans. Ideally suited for Architectural Preservationists or Luxury Developers, this trophy asset combines historic pedigree with significant expansion potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31172 Ceanothus Drive Subject | $7,500,000* List Price | 3 | 3 | 2,462 | $3,097 | - |
A 31571 Bluff Drive Sold | $7,750,000 | 3 | 3 | 2,156 | $3,595 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1937, this property is currently an unfinished renovation project. While the structure has been reinforced and systems (plumbing/electric) are new, the home is unlivable as it lacks a functional kitchen and finished bathrooms. Per the criteria, it requires significant rehab/finishing work to be move-in ready.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19602, living area = 2462.
Elementary School: El Morro Elementary School (9/10). Middle School: Thurston Middle School (9/10). High School: Laguna Beach High School (9/10).
Known as the 'Hangover House,' this 1937 masterpiece by William Levy Alexander is a rare, historically significant example of early modern architecture featured in Architectural Record.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2462, other record living area = 2212.
The residence requires the completion of essential interior elements, including kitchen and bathroom cabinetry, fixtures, and hardware, before it is move-in ready.
As a historic concrete and steel structure, the property requires a specific type of buyer willing to manage the final stages of a specialized architectural restoration.
The Richard Halliburton | Hangover House, designed by architect William Levy Alexander, circa 1937, is a very rare example of early 20th-century modern architecture using concrete and steel. Originally built for Halliburton, an American travel writer and adventurer, the name, Hangover House, comes from its positioning: perched 600-feet above the Pacific Ocean with incredible sweeping views up and down the coast, transitioning to east-facing views overlooking Aliso Canyon. The residence features a two-bedroom, two-and-a-half-bathroom main floor with a lower-level guest suite, situated on an almost 20,000 sqft. lot. An original spiral staircase leads to the rooftop deck, which offers 360-degree elevated ocean and surrounding views, where a steel-casement window serves as a wind screen for dining, relaxing and entertainment. The entire structure has been restored (concrete and steel were reinforced), and new plumbing and electrical systems are in place. Now the home just awaits the personalized touches of its next steward. The remaining work primarily includes finishing the kitchen and bathrooms (cabinets, fixtures and hardware), in addition to completing the lower guest suite. This unique offering also includes the neighboring lot (approx. 10,000 sqft.), which comes with approved plans (designed by LA architect, Mark Whipple) for a contemporary concrete and glass guest house (1149 sqft.), with an infinity-edge pool between the two residences, all connected by concrete steps. Originally featured in a 1938 edition of Architectural Record, the Hangover House is considered by many architectural historians to be among the early masterpieces of modern residential architecture in Southern California. This is an extremely rare opportunity to own an architectural trophy property with the option to merge the iconic original residence with a side-by-side contemporary example, all overlooking the Pacific Ocean in the heart of South Laguna Beach...
No exterior & parking available.
Grades K-5 • 4.9 mi
Grades 6-8 • 2.8 mi
Grades 9-12 • 2.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.6 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,462 | 2,244.917 |
| Lot Size | 19,602 | 6,150.208 |
| Price | $7.50M | $3.48M |
| Price per sq ft | $3.0K | $1.7K |
| Built year | 1937 | 1973 |
| HOA | $0 | $4.6K |
| Days on market | 5 | 73 |
Sep 4, 2026
$7,500,000
Initial Listing
Nov 28, 2011
$1,659,500
Public Record