Two Adjacent LB Homes Sell at $6-Million Difference

Two homes in Laguna Beach have caught the attention of real estate experts for their price difference-a gap of $6 million despite having similar sizes and specs, and sitting just across the street from each other.

The homes are located in the Smithcliffs community of North Laguna Beach, one of the more upscale areas of the city. Both have almost the same lot size and have the same community HOA dues of about $385 per month.

One home, located at 15 Smithcliffs Road, has been on the market for over a year and is listed at $9.998 million-down from its original price of $11.995 million. The other, just down the road at 10 Smithcliffs, is new to the market and is going for $3.995 million.

Both homes have an impressive lot size: 10 Smithcliffs is 10,111 square feet, while 15 Smithcliffs is just slightly smaller at 10,000. The price comes down to $951 per square foot for the former and $1,351 for the latter.

They differ a bit more in floor space: 10 Smithcliffs has 4,200 square feet, 4 bedrooms and 4 baths, whereas 15 Smithcliffs offers 7,200 square feet with 4 rooms and 9 baths. The latter comes with an elevator to facilitate the large living area.

Experts are unsure what contributes to the difference, although some believe it's the homes' age difference. The less expensive home was built in 2000, while the other was built four years later.

Another notable difference is the home style: 10 Smithcliffs has a contemporary design, while 15 Smithcliffs sports a more classic Tuscan look. The latter also boasts additional features such as a 900-bottle wine room, four ovens, and a rooftop deck.

 

Earlier in Laguna Beach Real Estate News:
Government Programs Can Help Laguna Beach Homeowners
Montage Resort Plans $400 Million Utah Expansion
Emerald Bay Home Slashes Price By $1 Million