
Laguna Beach, California 92651
This property presents a High-Potential Investment Opportunity with a List Price of $4,795,000—positioned well below the $4,440,248 Fair Market Value by -7%. While the primary residence maintains a Fair Condition Rating due to its 1923 origins, the inclusion of Design Review Approved plans for a 3,100 sq. ft. custom estate provides a clear path to value creation. Featuring a renovated ADU and an expansive 13,791 sq. ft. lot, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a redevelopment project in Laguna Beach.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 603 Pearl Street Subject 4 bd · 4 ba · 2,752 sqft · $1,613 | $4,795,000* List Price | 4 | 4 | 2,752 | $1,613 | - |
A 499 Legion Sold 4 bd · 3 ba · 2,335 sqft · $1,632 · 0.9 mi | $3,810,000 | 4 | 3 | 2,335 | $1,632 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property consists of a 1923 main residence and a recently renovated ADU. While the ADU features excellent modern finishes and updated systems (electrical/plumbing), the primary home is over 100 years old and likely dated, as evidenced by the listing's emphasis on approved plans for a new custom residence. The overall condition is functional but positioned for significant updating or redevelopment.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13791, living area = 2752.
The property includes Design Review Approved plans for a 3,100 sq. ft. custom residence, saving the buyer years of bureaucratic hurdles and providing a clear path to a modern luxury estate.
Situated on a rare 13,700+ square foot lot in Woods Cove, this 'garden compound' offers an exceptional level of privacy and outdoor space that is highly uncommon for Laguna Beach.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =13791, other record lot size in square feet = 42336. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2752, other record living area = 1174. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
Built in 1923, the main residence may require significant maintenance or modernization to meet contemporary standards if the new construction plans are not immediately utilized.
The list price heavily reflects the value of the approved plans and lot size, which may be a deterrent for buyers seeking a turnkey primary residence without the desire for a construction project.
Tucked away behind lush, mature landscaping in the heart of Laguna Beach, 603 Pearl Street feels like a world of its own. Set on an expansive 13,700+ square foot lot, this private garden compound offers a rare combination of space, seclusion, and proximity, with beaches, restaurants, shops, and galleries just a few blocks away. The main residence features three bedrooms and three bathrooms, along with an ocean-view deck that brings the coastal setting into everyday life. Winding pathways, mature trees, and layered gardens surround the home, creating a sense of privacy that is increasingly hard to find in Laguna Beach. A beautifully reimagined barn-style garage includes a fully renovated ADU with an updated kitchen, bathroom, electrical, plumbing, flooring, and lighting, offering flexibility for guests, a private workspace, or potential rental income. The property also includes Design Review Approved plans for a European-inspired custom residence with four bedrooms, four-and-a-half bathrooms, approximately 3,100 square feet, and panoramic ocean views. With the design review process already complete, a significant part of the work has already been done. A hidden garden compound with ocean views, generous grounds, and the best of Laguna Beach just a few blocks away.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.5 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,752 | 2,265.258 |
| Lot Size | 13,791 | 6,028.677 |
| Price | $4.79M | $3.56M |
| Price per sq ft | $1.7K | $1.7K |
| Built year | 1923 | 1971 |
| HOA | $0 | $3.7K |
| Days on market | 17 | 74 |
Oct 8, 2026
$4,795,000
Initial Listing
May 14, 2020
$2,200,000
Public Record