509 Diamond, Laguna Beach, California 92651, Laguna Beach, 92651 - 5 bed, 4 bath
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Laguna Beach, California 92651
Analysis of 509 Diamond, Laguna Beach, California 92651 is currently available with a list price of $4,900,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Laguna Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is new construction or fully renovated.
Although originally built in 1939, this property has undergone a meticulous and extensive recent restoration that brings it to modern standards. The home features high-end contemporary upgrades including a fully updated kitchen and bathrooms in both the main house and the separate ADU, custom tongue-and-groove ceilings, and modern electrical features like an EV charging port. The integration of vintage character with virtually new systems and finishes qualifies it for an excellent condition rating.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 14068, living area = 1864.
Elementary School: El Morro Elementary School (9/10). Middle School: Thurston Middle School (9/10). High School: Laguna Beach High School (9/10).
Situated in the highly coveted Woods Cove neighborhood, the property offers breathtaking panoramic views of the Pacific Ocean, Catalina Island, and city lights from an expansive wraparound deck.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =14068, other record lot size in square feet = 13843. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1864, other record living area = 1314. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
With a listing price of $4.9 million for approximately 1,864 square feet of living space, the property commands a significant premium that may challenge appraisal values for some buyers.
Despite the large gravel driveway and EV charging port, the absence of a formal enclosed garage may be a drawback for luxury buyers seeking secure, covered parking at this price point.
Originally built in 1939 as a classic coastal cottage, this beautifully restored home in the coveted Woods Cove neighborhood of Laguna Beach blends timeless character with thoughtful modern upgrades. Meticulously renovated while honoring its vintage roots, the residence captures the charm of Laguna’s early seaside homes while offering the comfort and functionality of contemporary living.Inside, the home showcases distinctive architectural details, including a custom tongue-and-groove ceiling in the living room that highlights the cottage’s historic character. Natural light fills the inviting living spaces, creating a warm and relaxed atmosphere that reflects the easygoing coastal lifestyle just blocks from the shoreline at Woods Cove Beach.The flexible floor plan offers four bedrooms or three bedrooms plus a dedicated office, along with three well-appointed bathrooms. Each space has been thoughtfully updated while maintaining the home’s original charm, creating an ideal balance of style, comfort, and practicality. Outdoor living is a defining feature of the property. A wraparound ocean-view deck provides the perfect setting for morning coffee, sunset gatherings, and year-round entertaining while taking in sweeping views of the Pacific Ocean, Catalina Island, and the sparkling city lights of Laguna Beach after dusk. Enchanting verandas line the pathways throughout the property, enhancing the home’s storybook feel and creating inviting spaces to relax and unwind.The backyard features a spacious veranda topped with a pergola—an idyllic retreat for afternoon lounging, outdoor dining, or enjoying the coastal breeze. Lush landscaping and charming pathways add to the peaceful garden atmosphere.A separate studio ADU offers exceptional versatility, complete with its own kitchen and bathroom—ideal for guests, extended family, a private workspace, or potential rental income.Additional conveniences include a large gravel driveway that provides ample parking and an EV charging port for electric vehicles. Located within the highly regarded Laguna Beach Unified School District, the home offers an added advantage for families seeking top-tier local schools.Just a few blocks from the sand and moments from the vibrant galleries, restaurants, and boutiques of downtown Laguna Beach, this enchanting Woods Cove property offers a rare opportunity to own a piece of Laguna’s history while enjoying the best of coastal California living.
No exterior & parking available.
Grades K-5 • 1.4 mi
Grades K-5 • 3.2 mi
Grades 6-8 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 90% |
| Baths | 4.0 | 3.0 | 68% |
| Square foot | 1,864 | 2,107 | 36% |
| Lot Size | 14,068 | 6,003 | 91% |
| Price | $4.90M | $3.10M | 79% |
| Price per sq ft | $2.6K | $1.6K | 86% |
| Built year | 1939 | 1964 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 38 | 180 | 6% |
Mar 15, 2026
$4,900,000
Initial Listing