Tiny Seaside Cabin in Laguna Beach Is Listed for Huge Price of $18.8 Million—Despite Offering Just 432 Square Feet of Living Space

When a property hits the market with an asking price of $18.8 million, the home in question typically offers thousands of square feet, opulent decor, and perhaps the expected touch of marble.

But in Laguna Beach, that very large sum affords you a quaint studio housed inside a 100-year-old cabin that is perched over the ocean.

The pint-sized abode, which was built in 1923, offers just 432 square feet of living space—yet its location on one of Laguna Beach’s most coveted coves makes it a once-in-a-lifetime opportunity. That opportunity comes at quite a price.

Just six homes sit along the stretch of oceanfront land where 1041 Marine Drive is located, some of which are believed to be among the oldest homes in the area.

“There’s no record of the structure’s history,” says listing agent Rob Giem, of Plus Real Estate. “It predates city records but is presumed to be an artist’s cabin, brought to the site around 1915.” 

The property comes with an artistic legacy: The block on which it sits was a preferred location for many of California’s notable impressionist painters, including Guy Rose, William Wendt, Edgar Payne, and Anna Hills.

“That artistic lineage lends the property a rare sense of place and irreplaceability,” says Giem. 

He describes the studio-sized cottage as a “single-wall, board and batten construction.” It comes with a small bedroom, living room, bath, and kitchen—all recently remodeled and modernized. 

But what truly distinguishes this property is what lies beyond the threshold.

“The outdoors is exceptional,” Giem says. “It features one-of-a-kind coastline and city-light views across most of Laguna Beach.” 

The relatively large lot of 8,500 square feet features a rolling lawn that terminates at the bluff overlooking a serene cove—which can be easily accessed by the property’s private staircase. 

“The home is situated directly above Shaws Cove, which is quite special as it is smaller and harder to find,” he says. “Also, its orientation makes it so that, on many days, the waters here are almost still and it looks like a large swimming pool.”

Properties on Marine Drive rarely come to market, according to Giem. “Some of these homes have only ever had one or two owners in over 100 years.” 

According to records, those lucky enough to secure a spot on the street paid quite a premium for the privilege. One adjacent dwelling was sold for $11 million in 2013, while another went for $4.9 million in 2017. Another is currently on the rental market for $19,500 a month.

This home last changed hands in 2020 for $7.4 million, so the seller stands to see a staggering $11 million profit if they get their asking price.

Still, the scarcity of homes available on the street, coupled with the ability to build anew, makes this property a rare offering indeed. The next owners will have the possibility of renovating or expanding the home, especially given the lot size. 

“It’s an enchanting cottage, really, reminiscent of those found on Cape Cod,” says Giem. “There’s miles of uninterrupted coastline and even a 100‑year‑old clothesline still standing in the backyard.”