787/797 S. Coast Hwy (ocean side of Coast), a one-of-a-kind property, gives you - the smart investor/creator - a way of showcasing your innovative thinking. One of Laguna Beach's most sought-after micro-markets - south side of the Village District and entrance to the Historic and Interesting Places (HIP) District. This is "the" destination for trendsetters, surf enthusiasts, artisans, and all who take pride in residing in a sustainable seaside community. Featuring a charming 101-year-old beach cottage board and batten construction, exposed wood-gable ceiling, open floor plan, allowing you to hear the waves crashing 50 steps from St. Ann's Beach. A charming open plan with tranquil shaded patio and carriage unit and bath (room for a kitchenette). The expansive garden is communing with nature at its finest – overlooking the ocean and featuring three different gathering spots, patio hardscape, artisan pavers, lush grassy lawn, and storage shed. Underlying C1 zoning, extraordinary long-term investment opportunity, with jewel-home improvements, providing the luxury of time to dream up the property's next 100-year chapter. Immediately across St. Ann's, the landmark Laguna Riviera Hotel is undergoing a planned multi-million-dollar renovation to a contemporary/"Scandi-boho" design and holistic hospitality offering. This location is famous for its distinctive surf scene and gateway to a string of renowned surf beaches. Two separate parcels: 787 S. Coast (the "cottage" APN: 644-023-06) and 797 S. Coast (the "garden" APN: 644-023-07). Each parcel features 2,500 sf of land area (25' by 100'), 5,000 sf combined, offered for sale together. The existing cottage pre-dates underlying zoning and is defined by the City as a "legal nonconforming use." Two car parking (three if you add the carriage unit), steps to the beach, groceries, farmer's markets, shopping, restaurants, and more – "walk, bike or skateboard to everything" fully immersed in an artist community like none other. **DISCLOSURE NOTE: According to County Assessor records the property is 640 livable sf. Listed square feet of 1,250 is based on an approximate measurement of the existing residence (including the finished garage). Buyer to satisfy themselves. Additionally, it is not known if the finished garage space was legally permitted. Non-historic, according to City of Laguna Beach records.**