An opportunity to own and develop this R-3 property in North Laguna Beach. Conceptual plans available that need formal Laguna Beach city updates and approvals. The current options are to build 3 condo units or 1 single family home. Spectacular 7,400 ocean view lot. Located on ocean side of N. Coast Hwy an extends to Cliff Drive across from Diver`s Cove Beach. Property currently has 2 upper level apartment units, and a retail store fronting Coast Highway below. Outstanding tenants, who generate $93,600 per year of rental income. An ideal opportunity for a builder who wants passive income while getting their plans approved with the city of Laguna Beach..