
Laguna Beach, California 92651
This Dual-Dwelling Residential Income property is a unique High-Potential Investment Opportunity, listed at $3,195,000—positioned above the $2,727,392 Fair Market Value. While priced for the premium Laguna Village market, the R-2 Zoning and Versatile Dual-Dwelling Configuration provide significant long-term utility. Featuring a Condition Rating of 3, the property includes modern upgrades like a Tankless Water Heater and EV-ready garage. This asset is ideal for Buy-and-Hold Investors seeking rental income or Owner-Occupants looking to offset costs through a secondary cottage.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 382 Thalia Subject | $3,195,000* List Price | 0 | 0 | 1,445 | $1,887 | - |
A 464 Agate Street A/b Sold | $2,750,000 | 3 | 3 | 1,633 | $1,684 | 0.5 mi |
B 464 Agate Street A/b Sold | $2,750,000 | 0 | 0 | 1,633 | $1,684 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1921 but extensively updated; the main house features a modern kitchen with stone counters and stainless appliances, while systems are highly upgraded with a newer roof, tankless water heater, and individual split HVAC units. The property is well-maintained and move-in ready, though the secondary cottage kitchen remains more dated.
The R-2 lot features two detached homes, offering exceptional flexibility for rental income, multi-generational living, or a private guest cottage setup in a high-demand coastal market.
Boasting a high walkability score, the property is situated just steps from Thalia Street Beach and within easy reach of downtown Laguna’s world-class galleries, dining, and shopping.
Rare for the area, the property provides four total parking spaces including an oversized garage with an EV outlet, alongside significant upgrades like a newer roof, tankless water heater, and whole-house filtration.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1445, other record living area = 488.
With only 1,445 square feet of living space divided between two separate structures, the individual rooms and overall interior scale may feel restrictive for the $3M+ price point.
Originally built in 1921, the property’s age may necessitate ongoing specialized maintenance and could present structural limitations common to historic coastal residences.
Two Detached Homes in Laguna Village. A short walk to Thalia Street Beach, 380 and 382 Thalia offer two detached, single-level homes on one R-2 lot in the heart of Laguna Village. Set among mature landscaping, fountains, fruit trees and stone pathways, the property offers privacy while remaining close to beaches, restaurants, galleries and downtown. The front home has two en-suite bedrooms, vaulted ceilings, a large living area with fireplace and built-ins, an updated kitchen with center island, and several private patios. An oversized two-car garage provides substantial storage and a 220-volt EV outlet, with two additional on-site parking spaces. The separate rear cottage has hardwood floors, a fireplace, Dutch-door entry, and a private stone patio. The two-home configuration works well for extended family, guests, rental income, or an owner who wants to live in one home and rent the other. Other features include separate electric meters, individual split systems, a newer roof, a tankless water heater, whole-house water filtration, a whole-house fan, an outdoor shower, and well-maintained landscaping. The R-2 zoning may provide additional possibilities, subject to buyer investigation and City approval. Partially staged. Buyer and buyer’s agent to independently verify square footage, permits, included appliances, schools, property features, zoning, and all other information deemed important to buyer.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.8 |
| Baths | 0.0 | 3.5 |
| Square foot | 1,445 | 1,840 |
| Lot Size | 5,000 | 5,677.545 |
| Price | $3.19M | $3.03M |
| Price per sq ft | $2.2K | $1.5K |
| Built year | 1921 | 1943 |
| HOA | $0 | $0 |
| Days on market | 7 | 86 |
Sep 2, 2026
$3,195,000
Initial Listing
Sep 29, 2022
$2,680,000
Public Record
Feb 8, 2001
$550,000
Public Record