"The high price tag can be attributed to the home's oceanfront location in Laguna Beach and the opportunity that comes with buying a rare lot without a steep slope and with stunning views down the coast."
"The home does have a closet outside the room, though, listing agent Robert Giem told SFGATE. The home, built in 1923, sits back from the street."
"Giem said the price isn't high for this type of opportunity. He told SFGATE it's the perfect spot for someone who wants to build in the area."
"The cottage has had very few owners over the years, Giem said. The people who owned it before the 2020 purchase had used it for decades."
The 432-square-foot cabin in Laguna Beach is priced at $18.8 million, equating to $43,519 per square foot. Built in 1923, it lacks a traditional bedroom but offers stunning ocean views and a private staircase to Shaws Cove beach. The property last sold for $7.3 million in 2020 after a change in preservation laws. The new owner may choose to preserve its historic status or build a larger home. Similar properties in the area have sold for tens of millions, indicating a strong market.
Read at SFGATE
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