Date
Details
Price
Change
Source
2/02/2026
Listed
$17,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$17,500,000
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Property Description
Opportunity Knocks. Arabella Laguna is a rare trophy property, held under the same ownership
since 1976, offering exceptional versatility and irreplaceable income potential. Currently operating as a
highly successful short-term rental compound, it may also serve as a private residence with
income, multi generational family compound, or long-term rental investment.
Located at the north end of Gallery Row, the property is minutes to Heisler Park, the beach,
downtown Laguna Beach, shopping, and dining.
Comprised of two legal parcels and four buildings, including two historic cottages listed on the City
of Laguna Beach Historic Inventory. Buyers may qualify for Mills Act benefits, subject to their own
investigation.
The Myrtle Cottage is a 3-bedroom, 3-bath historic residence configured as two units:
•Upper level: 2 bedrooms, 2 baths, kitchen, sun porch
•Lower level: 1 bedroom with caterer's kitchen and expansive veranda/sunroom, used for special
events and owner's quarters or office
The Jacaranda Cottage is a charming single-level 1-bedroom, 1-bath home with large living room,
sun porch, full kitchen, and laundry room.
Two additional rear buildings (circa 1940) include two studio apartments, three one-bedroom
apartments, and an additional sleeping room currently used as storage.
The residences surround a lush, private central courtyard. Amenities include eight garages (one
converted to laundry/storage) and three laundry areas.
Operating continuously as short-term rentals since 2001, the property benefits from a rare,
grandfathered, transferable permit that cannot be obtained again. A 14% Transient Occupancy
Tax is paid to the City of Laguna Beach on stays under 31 days.
Reservations are generated via Airbnb, Expedia, Booking.com, Visit Laguna Beach, and the
property's private website.
Seller will only sell both parcels together. Sale subject to a concurrent 1031 exchange
Full Property Details
Full Property Details for 506 N Coast Hwy
General
- Price: $17,500,000
- Status: Active
- Type: Multi-Family
- Source: MRMLS
- MLS ID: LG26020416
- Updated: 2/10/2026
- Days on Market: 18 days
- Added to Site: 18 day(s) ago
Interior
- Rooms/Areas: Galley Kitchen, Great Room, Laundry, Living Room, Main Floor Bedroom, Office, Walk-In Pantry
- Interior Features: Beamed Ceilings, Block Walls, Ceiling Fan(s), Copper Plumbing (Partial), Crown Molding, Open Floorplan, Pantry, Stone Counters, Storage
- Fireplace(s): Living Room
- Appliances: 6 Burner Stove, Barbecue, Convection Oven, Dishwasher, Double Oven, Free-Standing Range, Freezer, Disposal, Gas Oven, Gas Range, Gas Cooktop, Gas Water Heater, Indoor Grill, Microwave, Refrigerator, Tankless Water Heater, Vented Exhaust Fan, Water Heater, Water Line to Refrigerator
- Flooring: Stone, Wood
Rooms
Other Rooms
- Laundry: Community, Individual Room
Additional Information
- Pool Description: None
- Spa Description: None
Exterior
- Exterior Features: Lighting
Parking
- Garage Spaces: 8
Location
- Area: NL - North Laguna
- County: Orange
- Development Name: NL - North Laguna
- Driving Directions: on the inland North corner of Coast Hwy. and Myrtle
Heating & Cooling
- Cooling Type: Dual, Electric, High Efficiency, See Remarks, Wall/Window Unit(s)
- Heating Type: Combination, Wall Furnace
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 2
- # Gas Meters: 8
- # Electric Meters: 8
Structural Information
- Architectural Style: Bungalow
- Roof: Composition
- Doors: French Doors
- Entry Location: ground
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 5,500
- Year Built: 1920
Unit Information
Unit 1
- Number of Units: 2
- Total Bathrooms: 1
Unit 2
- Number of Units: 4
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 2
Lot Features
- Property View: Peek-a-Boo, Trees/Woods
- Lot Size (Acres): 0.3162
- Lot Size (Sq. Ft.): 13,774
- Lot Size Source: Other
- Zoning: R3
- Lot Description: Corner Lot, Front Yard, Garden, Landscaped, Lawn, Lot 10000-19999 Sqft, Sprinkler System, Sprinklers in Front, Sprinklers in Rear, Treed Lot
Financial Considerations
- Price Per Sq. Ft.: $3,181.82
- Price Per Unit: 2187500
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.
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We Value Your Privacy
Meet the listing agent
Meet the listing agent
— 506 N Coast Hwy —
CalRE#: 00482592
(714) 745-0027 mobile
(949) 644-1600 direct
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 506 N Coast Hwy
School District:Laguna Beach Unified School District
| Name | Grades | Distance |
|---|---|---|
El Morro Elementary School 8681 North Coast Highway, Laguna Beach, CA 92651 | K-5 | 2.2 mi |
Thurston Middle School 2100 Park Avenue, Laguna Beach, CA 92651 | 6-8 | 1.6 mi |
Laguna Beach High School 625 Park Avenue, Laguna Beach, CA 92651 | 9-12 | 1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 506 N Coast Hwy
Estimate the Cost
Estimate the Cost for 506 N Coast Hwy
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506 N. Coast Hwy., Laguna Beach, CA 92651 (MLS# LG26020416) is a Multi-Family property with 8 units containing 0 bedrooms and 0 full bathrooms. 506 N. Coast Hwy. is currently listed for $17,500,000 and was received on February 02, 2026. This property is listed by Connie Maxsenti from our Newport Beach Office.Want to learn more about 506 N. Coast Hwy.? Do you have questions about finding other Multi-Family real estate for sale in North Laguna? You can browse all North Laguna real estate or contact a Coldwell Banker agent to request more information.