City of Industry-based Morris Group International President and Chief Executive Don Morris is settling into a steel-framed home with his wife, Mimi, in The Strand at Headlands gated community in Dana Point.
The couple bought a new 7,000-square-foot home on Beach View Avenue for $8.8 million, a little over half the initial asking price of about $15 million.
The home has been on and off the market for nearly three years, its price reduced each time. It was last listed at $9.2 million.
The property was built with steel framing to allow for fewer walls and an open floor plan, as well as larger windows.
It has six bedrooms, including two master suites, one featuring a private entry and living room; and six bathrooms. There’s also an office with a Murphy bed; two laundry rooms; an elevator; and a separate garage for up to two golf carts.
Morris Group designs and manufactures plumbing and drainage products through subsidiaries.
The family-owned company was founded in 1945 by Morris’ father, Earl. It has 1,700 employees and nine offices around the world.
David Pendleton of First Team Estates and Aaron Kirman of Pacific Union International held the listing. Gina Le of SoCal Homeland Realty represented the buyer.
Rent or Own
Potential residents have a couple options—both expensive—when it comes to the oceanfront property at 675 Cliff Drive in Laguna Beach.
The 4,000-square-foot Tuscan-style property is on the market with an asking price of $9.9 million or a 12-month lease for $25,000 per month.
Located at Fisherman’s Cove in Laguna Beach, the updated three-story home has five bedrooms and four bathrooms. It also has a separate cabana-style studio that has a bath, kitchenette and grassy patio area.
The master bedroom has a spa-inspired bathroom, walk-in closet and ocean views.
There’s wall-to-wall disappearing sliding doors leading out to a deck on the home’s main level, as well as a lower level that features a full bar, wine cellar, family room and balcony with spa.
Records show the seller purchased the property in 1997 for $519,000, prior to renovations.
John Stanaland of Villa Real Estate holds the listing.
Stretching Out
A four-structure Laguna Beach compound that’s a short drive from Laguna Canyon Road and spread across 6 acres is on the market with an asking price of $9.9 million.
The hillside home at 272 Canyon Acres Drive features a long driveway leading guests up to a 5,164-square-foot property with four bedrooms and five bathrooms. There’s a main residence, guest house, pool house and four-car garage.
The Mediterranean-style home, built last year, has white European oak hardwood flooring and peaked ceilings with exposed wood beams with large windows offering views of the hillside. Other amenities include an infinity pool and outdoor fire pit with plenty of room for entertaining.
Tim Smith of Coldwell Banker Residential Brokerage has the listing.
Smith made waves about a month ago when he spent some $50,000 to make a rap video to help market a waterside home in Newport Beach. No word yet if there’s a video in the works for the Laguna Beach property.
