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535 Mystic Way, Laguna Beach, California 92651, Laguna Beach, 92651 - 4 bed, 3 bath

535 Mystic Way, Laguna Beach, California 92651 home-pic-0
ACTIVE UNDER CONTRACT$3,275,000
535 Mystic Way, Laguna Beach, California 92651
4Beds
3Baths
2,181Sqft
7,227Lot

Price Vs. Estimate

The estimated value ($2,881,474.595) is $393,525.405 (12%) lower than the list price ($3,275,000). This property may be overpriced.

Key pros and cons

Top Pros:
Panoramic Ocean & City Views: The property offers breathtaking ocean and city lights views, with Main Beach’s waves visible in the distance, significantly enhancing its desirability and value.
Top Cons:
Age of Property (1963): Built in 1963, the home's age may imply original or aging infrastructure (plumbing, electrical, roof) that could require significant updates or maintenance in the near future.

Compared to the nearby listings

Price:$3.27M vs avg $3.12M (+$150,000)54%
Size:2,181 sqft vs avg 2,018 sqft57%
Price/sqft:$1.5K vs avg $1.6K46%

More Insights

Built in 1963 (62 years old).
Condition: Built in 1963, this property features significantly outdated kitchens, particularly the downstairs unit which appears to have had no major renovations in 30-50 years, exhibiting very old cabinetry, countertops, and appliances. The upstairs kitchen, while slightly less severe, also shows dated wood cabinets, laminate countertops, and older black appliances. No images of bathrooms were provided, but given the age and kitchen conditions, they are likely in similar outdated states. While the mid-century modern architecture with wood beams and large windows offers good bones, the interior finishes, especially in the critical kitchen areas, require substantial rehabilitation and modernization. The MLS listing itself notes the 'Age of Property (1963)' as a weakness, implying potential aging infrastructure that could require significant updates or maintenance.
Year Built
1963
Close
-
List price
$3.27M
Original List price
$3.9M
Price/Sqft
$1,502
HOA
-
Days on market
-
Sold On
-
MLS number
LG25041777
Home ConditionPoor
Features
Excellent View: Catalina, City Lights, Coastline, Neighborhood, Ocean, Panoramic, Water
Deck
Patio
ViewCatalina,City Lights,Coastline,Neighborhood,Ocean,Panoramic,Water

About this home

This four-bedroom, three-bathroom home in Lower Mystic Hills, Laguna Beach offers breathtaking ocean and city lights views, with Main Beach’s waves visible in the distance. Conveniently located near Laguna Village, it provides easy access to shops, restaurants, and local amenities.Designed for multi-generational living, the property features two bedrooms and two bathrooms upstairs, alongside the kitchen, dining, and living areas, while the lower level includes two additional bedrooms, one bathroom, and a second kitchen, dining, and living space.The mid-century modern architecture is highlighted by natural wood beams, high ceilings, and tall glass windows, creating a bright and airy atmosphere. Additional features include air conditioning units on both levels, a spacious backyard with a built-in barbecue, and a quiet lot with two historical homes below offers privacy and tranquility, complemented by the refreshing coastal breeze.The over 7,000 square foot lot includes a 35-foot retaining wall and room for an ADU, providing potential for extra living space or rental income. A large laundry room with ample storage space and a unique bonus room excluded from the square footage add even more flexibility, perfect for a home office, gym, or creative space.This is a prime opportunity to craft your ideal coastal retreat in one of Laguna Beach’s most desirable neighborhoods.

Nearby schools

9/10
Top Of The World Elementary School
Public,•K-5•1.4mi
9/10
El Morro Elementary School
Public,•K-5•2.2mi
9/10
Thurston Middle School
Public,•6-8•0.8mi
9/10
Laguna Beach High School
Public,•9-12•0.2mi
Condition Rating
Poor
Built in 1963, this property features significantly outdated kitchens, particularly the downstairs unit which appears to have had no major renovations in 30-50 years, exhibiting very old cabinetry, countertops, and appliances. The upstairs kitchen, while slightly less severe, also shows dated wood cabinets, laminate countertops, and older black appliances. No images of bathrooms were provided, but given the age and kitchen conditions, they are likely in similar outdated states. While the mid-century modern architecture with wood beams and large windows offers good bones, the interior finishes, especially in the critical kitchen areas, require substantial rehabilitation and modernization. The MLS listing itself notes the 'Age of Property (1963)' as a weakness, implying potential aging infrastructure that could require significant updates or maintenance.
Pros & Cons

Pros

Panoramic Ocean & City Views: The property offers breathtaking ocean and city lights views, with Main Beach’s waves visible in the distance, significantly enhancing its desirability and value.
Prime Location: Conveniently located near Laguna Village, providing easy access to shops, restaurants, and local amenities in a highly sought-after Laguna Beach neighborhood.
Multi-Generational Living Layout: Designed for multi-generational living with separate living spaces, kitchens, and bedrooms on both levels, offering exceptional flexibility and privacy.
ADU Potential & Large Lot: An over 7,000 square foot lot with room for an Accessory Dwelling Unit (ADU) presents significant potential for additional living space or rental income.
Mid-Century Modern Architecture: Features distinctive mid-century modern architecture with natural wood beams, high ceilings, and tall glass windows, creating a bright and airy atmosphere.

Cons

Age of Property (1963): Built in 1963, the home's age may imply original or aging infrastructure (plumbing, electrical, roof) that could require significant updates or maintenance in the near future.
Significant Price Reduction: A substantial price reduction from $3.9M to $3.275M could indicate initial overpricing, market resistance, or potential underlying issues, which may raise buyer scrutiny.
Unpermitted Bonus Room: The 'unique bonus room excluded from the square footage' suggests it may not be permitted, potentially complicating appraisal, financing, or requiring costly legalization/modification.

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