An 8,718-square-foot home in the small, gated community of Lagunita in Laguna Beach traded last month for nearly $26 million.
The sale of the property, located at 16 Lagunita Drive, marks the priciest deal for the community since 2018, when 9 Lagunita traded for $17.5 million in 2014.
The oceanfront, Mediterranean-style home was once owned by actors Ozzie and Harriet Nelson, who won national fame in the 1950s for their television show.
Douglas Elliman’s Josh and Matthew Altman negotiated the deal on behalf of the seller. Ann Ngo of Coastal Investments represented the buyer. Neither the buyer nor the seller was identified.
Listing Price Slash
The 16 Lagunita property saw multiple price cuts before it closed escrow.
It hit the market last July at an asking price of $42.5 million. After a brief stint off the market, the home returned with a list price $38 million. The property then entered escrow in April at $32 million, before both the buyer and seller settled at $25.98 million.
Despite the price cuts, the home remains the priciest trade in the community of Lagunita.
The five-bedroom, eight-bathroom property offers sizable living space in addition to proximity to the beach, the Montage Hotel as well as other retail hot spots in Laguna Beach, Livel Real Estate’s Meital Taub noted.
“When the tide is low, you can walk from the beach below to the Montage,” Taub told the Business Journal.
Victoria Beach, which is nestled under the bluffs the property sits on, is also a popular destination for beachgoers. The 16 Lagunita Drive home comes with a staircase that leads down from the bluffs directly to the sand.
Other amenities of the home include a waterfall pool, hot tub, custom fire pits, an outdoor pizza oven, a home theater and a wine cellar.
Lagunita Community
It’s unclear if 16 Lagunita Drive’s new owner is using the property as a second home.
Many of the neighborhood’s houses serve as vacation homes, according to Taub.
“It’s a great community for those who want a quiet neighborhood that offers luxury, privacy and access to Laguna Beach’s vibrant restaurant and retail scene,” Taub said.
Properties in Lagunita range from $3.8 million to nearly $35 million, given the recent listing of 18 Lagunita Drive.
The neighborhood is often overlooked by Laguna Beach’s other gated communities.
“Everyone talks about Emerald Bay and Three Arch Bay, but they forget about this small, secret, hidden gem,” Taub said.
