A shoebox studio perched on a prime stretch of coastline in Laguna Beach, California, has hit the market for a staggering $18.8 million
And at just 432 square feet, the century-old seaside cottage at 1041 Marine Dr. makes for a stark contrast with the sprawling mansions surrounding it.
But what the property lacks in size, it makes up for in land, sitting on an ”extremely rare” 8,500-square-foot lot in one of Southern California’s most coveted coastal enclaves.
Nearby homes underscore the contrast. The property at 1051 Marine Dr. spans 2,183 square feet and is valued at $11 million, while neighboring 1031 Marine Dr. stretches across 4,700 square feet and is worth about $16.4 million.
Despite its tiny footprint, the cottage includes one bathroom, a sunroom, a large backyard, sweeping Pacific Ocean views and a private staircase down to the beach.
The listing describes the lot as “rare” and “oversized,” with panoramic views of a coastline “reminiscent of the French Riviera.”
“By day, enjoy endless ocean vistas; by night, the coastline sparkles with lights,” the listing says.
Listing agent Garrett Rau told The Post the property’s biggest draw is its location in North Laguna.
“Shaw’s Cove is highly regarded as being one of the top beaches along the California coastline,” he said, noting The Godfather actress Diane Keaton once owned homes in the area.
The cottage, built in 1923, is “presumed to be an artist’s cabin,” according to co-listing agent Rob Giem, who said its history adds to its appeal.
“That artistic lineage lends the property a rare sense of place and irreplaceability,” he said.
Giem said the standout feature remains the 8,500-square-foot lot, an opportunity he described as coming along “once in every 10 or 20 years.”
The property last sold for $7.35 million in 2020, less than half its current asking price.
Agents say the dramatic jump is tied to a historic preservation rule that was recently struck down, clearing the way for buyers to potentially demolish the cottage and rebuild their own mansion.
“The cottage is usable. It allows a buyer to come in and use it as a seaside, summer cottage, however they see fit until they get their plans approved and they can ultimately build whatever they decide,” Rau said.
Rau said there has already been interest, but agents are holding out for the “right buyer.”
Ultimately, both agents agreed the real prize is the land.
“I think ultimately the [cottage] is going to be replaced,” Rau said.
