$7,275,000

A Rare Opportunity to Own a Five-Story Ocean-View Trophy Property on Laguna Beach’s Coast Highway, Steps from the Sand Rising five stories above Coast Highway, 640 Coast Highway & 641 Ramona Avenue is a rare mixed-use building moments from the beach and the Village, with panoramic ocean and Catalina Island views from its upper levels. The approximately 4,612-square-foot building holds 8 units of café, restaurant, retail, office and residential space, including two ocean-view penthouses, on a 6,643-square-foot lot with frontage on Coast Highway and Ramona Avenue. An additional space offers the potential to convert to a ninth office suite for added income, subject to City approval. Built in 1986, the building offers an elevator and 18 on-site parking spaces, rare for downtown, and the owner reports permits in place for upgrades such as new windows and flooring. Across the street, the oceanfront Pacific Edge Hotel is being reimagined by Foster + Partners as a destination resort. A rare holding for long-term investors or an owner-user seeking a place in Laguna. Buyer to verify zoning, permitted uses, unit configuration, permits and conversion potential with the City of Laguna Beach.