A landmark property in the Laguna Beach Village that’s home to both surf shops and ocean-view apartments is now for sale.

The 1936-built property is listed for $6,350,000 and houses Billabong’s Second Reef Surf Shop, Vans Shoes, Thalia Surf Shop and Goko Café on the lower level. The 10,114-square-foot building has five luxury apartments on the upper level – one studio and four 2-bedroom/2-bathroom units.

The English Tudor style property is on the city of Laguna Beach’s Historical Register with an ‘E’ rating, the highest rating given by the city, according to listing agent Dean Lueck of First Team Estates. Lueck says that the rating should qualify the structure for up to 50 percent property tax relief.

Not only is the landmark well known to the Laguna Beach community, but the property also has a strong occupancy history – Lueck said the retail spaces haven’t seen a vacancy in 18 years.

Though the property hearkens back to the 1930s, the current owners spent nearly $1 million restoring and renovating the property in 2007, according to Lueck.

The listing description describes this structure at 903 South Coast Highway as “a prime investment opportunity with excellent ROI, long term appreciation and cash flow from stable retail/residential tenants.”

Located in the heart of Laguna Beach and just 50 feet from the beach, the property is in a prime location to draw business from both locals and tourists. Lueck said that tenants will not be impacted by the sale as they have long term leases in place.

Contact the writer: khart@ocregister.com or 949-454-7391