
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 0 bd · 0 ba · 1,445 sqft · $1,549 | $2,850,000* List Price | 0 | 0 | 1,445 | $1,549 | - |
A 617 Lombardy Sold 0 bd · 0 ba · 1,939 sqft · $1,418 · 0.2 mi | $2,750,000 | 0 | 0 | 1,939 | $1,418 | 0.2 mi |
B 617 Lombardy Sold 3 bd · 3 ba · 1,939 sqft · $1,418 · 0.2 mi | $2,750,000 | 3 | 3 | 1,939 | $1,418 | 0.2 mi |
C 1494 Glenneyre Active 0 bd · 0 ba · 1,560 sqft · $2,048 · 0.4 mi | $3,195,000 List Price | 0 | 0 | 1,560 | $2,048 | 0.4 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 completely detached residences offer exceptional privacy on one R-2 lot in the heart of Laguna Village. Just a 5-minute walk to the beach, the property also offers a truly car-optional lifestyle, with coffee, restaurants, Ralphs, gyms, shopping, and downtown Laguna Beach all just a short stroll away. Two independent single-level homes, substantial private outdoor living spaces and exceptional walkability create a rare combination of privacy, flexibility and convenience. The front residence features two en-suite bedrooms, a vaulted-ceiling great room with fireplace, and an open kitchen with center island that flows directly to a large outdoor dining and BBQ patio. Both bedrooms open to a second substantial private patio, creating an easy indoor-outdoor flow and extending the home's living and entertaining spaces. The second bedroom—with built-in office cabinetry and a Murphy bed—easily functions as a bedroom, home office, or both. An outdoor shower is perfect after a day at the beach. The home also features a split system, central heat, and a whole-house fan. Set privately behind the main residence, the completely separate one-bedroom cottage features hardwood floors, a fireplace, and a charming Dutch door opening to an expansive, secluded outdoor living area. With space for dining, lounging, and a BBQ amid a fountain, fruit trees, and mature landscaping, the patio feels like a private garden retreat and substantially extends the cottage’s living space. The rear cottage also has its own split system. Two garages and four on-site parking spaces provide an unusual level of convenience for a Village property, and the oversized two-car garage serving offers substantial storage and a 220-volt outlet for EV charging. The flexible configuration is ideal as a full-time residence with separate accommodations for family and guests, a Laguna Beach second home, or an owner-occupied property with the opportunity to rent one of the residences. Two detached homes, exceptional privacy, expansive indoor-outdoor living, generous parking, and a truly walkable Village location make this a uniquely versatile Laguna Beach property.
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 | $2.85M | $2.85M |
| Price per sq ft | $2.0K | $1.5K |
| Built year | 1921 | 1943 |
| HOA | $0 | $0 |
| Days on market | 53 | 91 |
Oct 21, 2026
$2,850,000
$2,950,000
-3% Price Drop
Initial Listing
Oct 8, 2026
$2,950,000
$3,050,000
-3% Price Drop
Initial Listing
Sep 18, 2026
$3,050,000
$3,195,000
-5% Price Drop
Initial Listing
Sep 2, 2026
$3,195,000
Initial Listing
Sep 29, 2022
$2,680,000
Public Record
Feb 8, 2001
$550,000
Public Record