312 Emerald Bay, Laguna Beach, California 92651, Laguna Beach, 92651 - 3 bed, 3 bath

312 Emerald Bay, Laguna Beach, California 92651 home-pic-0
ACTIVE UNDER CONTRACT$5,095,000
312 Emerald Bay, Laguna Beach, California 92651
3Beds
3Baths
2,107Sqft
4,606Lot

Price Vs. Estimate

The estimated value ($5,095,000) is $0 (0%) lower than the list price ($5,095,000). This property may be overpriced.

Key pros and cons

Top Pros:
Exclusive Gated Community: Located in Emerald Bay, Laguna Beach’s most exclusive gated beachside community, offering unparalleled privacy, prestige, and unmatched security.
Top Cons:
Age of Existing Structure: Built in 1949, the existing home is dated, and its primary value proposition is as a tear-down or significant renovation project rather than a move-in ready luxury residence.

Compared to the nearby listings

Price:$5.09M vs avg $3.12M (+$1,970,000)78%
Size:2,107 sqft vs avg 2,018 sqft54%
Price/sqft:$2.4K vs avg $1.6K83%

More Insights

Built in 1949 (76 years old).
Condition: The property was built in 1949, making it 75 years old. The listing description explicitly states, 'the true value lies in the long-term potential to rebuild and create a legacy home tailored to your vision,' indicating that the existing structure is considered a prime candidate for demolition and redevelopment. While the description mentions 'comfortable living,' the overall aesthetic from the images (dated terracotta-style flooring, paneled walls, older built-ins) and the agent's emphasis on rebuilding align with a property whose value is primarily in the land, not the existing structure. No images of the kitchen or bathrooms were provided, but given the age and description, they are highly likely to be outdated and require full replacement.
Year Built
1949
Close
-
List price
$5.09M
Original List price
$5.45M
Price/Sqft
$2,418
HOA
$9,563
Days on market
-
Sold On
-
MLS number
NP25172571
Home ConditionTear down
Features
Excellent View: Coastline, Ocean, Water
Deck
Patio
ViewCoastline, Ocean, Water

About this home

Live in Emerald Bay—Laguna Beach’s most exclusive gated beachside community. This rare opportunity offers the perfect canvas to build your family's custom dream home in a location that embodies privacy, prestige, and panoramic ocean views. Situated on one of the most tranquil and child-friendly one-way streets in the community, the property boasts a desirable orientation that captures coastal breezes and sunlight throughout the day. The existing 3-bedroom, 3-bathroom home provides comfortable living with multiple private outdoor spaces—all showcasing views of the Pacific. However, the true value lies in the long-term potential to rebuild and create a legacy home tailored to your vision. Emerald Bay is more than just a neighborhood—it’s a lifestyle. As a resident, you’ll enjoy access to a private white sand beach, an oceanfront pool complex, six tennis courts, sand volleyball, basketball courts, a clubhouse, lush parks, and year-round community events and children's programs. The Mediterranean-style charm and unmatched security of this gated enclave offer a sense of tranquility rarely found on the California coast. Just a short stroll from Palm Tree Circle and moments away from Laguna Beach’s world-class dining, art galleries, and surf, this is a generational opportunity to create lasting memories and long-term value in one of Southern California’s most sought-after coastal communities. Emerald Bay is where luxury meets lifestyle—and your dream home awaits.

Condition Rating
Tear down

The property was built in 1949, making it 75 years old. The listing description explicitly states, 'the true value lies in the long-term potential to rebuild and create a legacy home tailored to your vision,' indicating that the existing structure is considered a prime candidate for demolition and redevelopment. While the description mentions 'comfortable living,' the overall aesthetic from the images (dated terracotta-style flooring, paneled walls, older built-ins) and the agent's emphasis on rebuilding align with a property whose value is primarily in the land, not the existing structure. No images of the kitchen or bathrooms were provided, but given the age and description, they are highly likely to be outdated and require full replacement.
Pros & Cons

Pros

Exclusive Gated Community: Located in Emerald Bay, Laguna Beach’s most exclusive gated beachside community, offering unparalleled privacy, prestige, and unmatched security.
Panoramic Ocean Views: The property boasts panoramic ocean views of the Pacific from multiple private outdoor spaces, enhancing its desirability and value.
Extensive Community Amenities: Residents enjoy access to a private white sand beach, oceanfront pool complex, six tennis courts, sand volleyball, basketball courts, a clubhouse, lush parks, and year-round community events.
Significant Rebuild Potential: This rare opportunity provides the perfect canvas to rebuild and create a custom, legacy dream home, offering substantial long-term value creation.
Prime Coastal Location: Situated on a tranquil, child-friendly street with a desirable orientation, moments away from Laguna Beach’s world-class dining, art galleries, and surf.

Cons

Age of Existing Structure: Built in 1949, the existing home is dated, and its primary value proposition is as a tear-down or significant renovation project rather than a move-in ready luxury residence.
High Association Fees: The property carries a substantial annual association fee of $9,563, which adds significantly to the ongoing cost of ownership.
Additional Investment Required: While offering rebuild potential, realizing the property's full value as a 'custom dream home' will require a significant additional investment beyond the purchase price for construction.

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