Laguna Beach beachfront compound with 11 parcels is on the market for million.
A premier development opportunity in Laguna Beach has recently entered the real estate market with an asking price of million. This comes shortly after a historic sale in the nearby community of Emerald Bay, where a property sold for 0 million. The nearly four-acre coastal compound offers significant development potential, making it a highly sought-after investment.
Situated above a secluded cove, the property boasts expansive views of the Pacific Ocean, Catalina Island, and the surrounding coastline. It spans 11 contiguous parcels, stretching from the Coast Highway to the shore, featuring approximately 320 feet of waterfront footage at the southern end of Thousand Steps Beach. This expansive footprint provides prospective buyers with a unique opportunity to construct either a private family estate or multiple high-end residential units in a market where supply is limited, leading to higher pricing.
Public records indicate that the property was acquired for million in July 2025, concluding nearly three decades of ownership by Gary Lee Groves, the founder of Pacific Physician Services. Originally purchased for million in November 1996, Groves sought to capitalize on its prime location and development potential through various listing strategies, including an earlier attempt to sell it for .5 million in August 2021.
The property is currently owned by two entities: MSM Land LLC, which holds 79 percent, and MSM Homes LLC, with a 21 percent stake. Both entities are managed by Mark Moshayedi, the founder and CEO of MSM Global Ventures LLC, a Newport Beach-based real estate investment firm.
Marketing efforts emphasize the site’s unique potential to create a landmark coastal residential development. The listing includes advanced planning considerations, which are already under investigation. Furthermore, architectural plans and conceptual renderings have been prepared for either multi-unit housing or a private compound layout. This flexibility allows room for custom luxury residences, premium condominiums, or an innovative mixed-use residential village.
Currently, the property features three newly renovated residences, complemented by a sports court, expansive gardens, and terraces. The existing homes not only provide immediate rental income but also serve as executive housing options while development plans and approvals are being finalized.
Stairways leading down the bluff grant access to a gated beach, complete with sand, caves, and a unique saltwater swimming pool nestled within the coastal rocks, ensuring an idyllic coastal living experience. The property is being listed by Rob Smith at Compass, marking a significant opportunity for investors looking to enter the upscale Laguna Beach market.
Investors seeking a lucrative venture in one of California’s most coveted coastal areas will find this property an intriguing prospect, with its blend of natural beauty, strategic planning possibilities, and high potential for return on investment.
