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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
Property Type(s):
Residential Income
| Last Updated | 2/2/2026 | Tract | North Laguna (NL) |
|---|---|---|---|
| Year Built | 1920 | Community | NL - North Laguna |
| Garage Spaces | 8.0 | County | Orange |
Additional Details
| AIR | Dual, Electric, Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Convection Oven, Dishwasher, Disposal, Double Oven, Free-Standing Range, Freezer, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, Indoor Grill, Microwave, Refrigerator, Tankless Water Heater, Vented Exhaust Fan, Water Heater |
| AREA | NL - North Laguna |
| CONSTRUCTION | Board & Batten Siding, Stone, Stucco, Wood Siding |
| EXTERIOR | Barbecue, Garden, Lighting |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| INTERIOR | Beamed Ceilings, Ceiling Fan(s), Crown Molding, Open Floorplan, Pantry, Stone Counters, Storage |
| LOT | 0.3162 acre(s) |
| LOT DESCRIPTION | Corner Lot, Front Yard, Garden, Landscaped, Sprinklers In Front, Sprinklers In Rear, Wooded |
| LOT DIMENSIONS | 13774 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Bungalow |
| SUBDIVISION | North Laguna (NL) |
| UTILITIES | Cable Connected, Electricity Available, Natural Gas Available, Sewer Connected, Water Available |
| VIEW | Yes |
| VIEW DESCRIPTION | Trees/Woods |
| WATER | Public |
Location
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Listed with Coldwell Banker Realty
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