It’s not often that ocean-front lots open up on Corona del Mar’s “billionaire’s row.” And it’s rarer still for two side-by-side lots to come on the market at once.
But that’s what’s happening now on Brighton Road:
•At 4541 Brighton Rd., a three-bedroom, 2,300-square-foot house on 0.45 of an acre is selling for $12.5 million.
•Next door at 4549 Brighton Rd., another three-bedroom house on 0.36 of an acre is selling for just under $12 million.
Agents for both properties are touting the sales as a chance to combine the two lots, tear down the homes and build one big mega-mansion.
“This is truly a RARE and wonderful opportunity to build a spectacular custom oceanfront home and compound!!!” Coldwell Banker agent John Campbell wrote in his listing for 4541 Brighton Rd.
The combined size of the two lots would be 31,500 square feet, Surterre Properties agent Marlynn Howe wrote in her listing for 4549 Brighton Rd.
The street had been in the headlines in recent years as the location of Portabello Estate, a 22,000-square-foot mansion built after software magnate Frank Pritt assembled three lots and replaced the original homes. Portabello originally listed for $75 million, then sold a year ago, reportedly fetching $34.1 million.
The Cameo Shores neighborhood also is home to some of Orange County’s wealthiest residents, including Broadcom Corp. co-founder Henry Samueli.
The beach in front of Brighton Road is virtually private since there’s no public access. The road – along with Laguna Beach’s Riviera Drive and Emerald Bay – is one of the most exclusive residential beachfront streets in Orange County.
Howe said there are seven lots on Brighton Road with original homes on them that could be remodeled or rebuilt. Two of them sold recently, leaving a dwindling supply of such lots likely to come up for sale in the future.
“This is the last side-by-side (site) where there are two original residences,” she said.
Both homes now for sale were built in the 1960s. The sale price is based primarily on the land, not the houses, Howe said.
According to 4941 Brighton Rd.’s listing, the current one-story home has three bedrooms, three bathrooms, an office and a secluded courtyard pool.
“The home has direct easy access to the private sandy beach cove. With marvelous and captivating views encompassing surf, sand, sails, coastal rock formations, harbor entrance and spectacular Catalina Island sunsets,” the listing states.
The one-story home at 4949 Brighton Rd. has three bedrooms and 2.75 bathrooms, an office, formal dining, open kitchen and large private courtyard. According to the listing, it has ocean views from almost every vantage point.
Howe said a buyer could remodel the exiting home or tear it down. But for a really wealthy buyer, her listing states, there’s an “important opportunity” to buy both lots and build a “spectacular” double-lot compound on the water.
“Truly,” the listing states, “one of the best buying opportunities on California’s coast!”