A Rare Coastal Compound in SoCal’s Orange County Just Hit the Market for $50 Million

A seaside compound that’s been inhabited by the same family for nearly three decades has popped up for sale in the Paradise Cove neighborhood, just north of Three Arch Bay, in Southern California’s affluent Orange County, along the Laguna Beach coastline.

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Originally purchased by retired doctor Gary Groves for a mere $5 million back in November 1996—not too long after the Redlands-based Pacific Physicians Services group he co-founded was acquired by the physician-management firm MedPartners/Mullikin Inc. for $332 million in stock—the property encompasses 11 separate parcels of land stretching to the water’s edge and is asking a hefty $50 million; and should the place go for anywhere near that amount, it would be one of the most expensive O.C. residential real estate transactions ever recorded.

Tucked away on an almost 4-acre parcel laced with gardens, palm trees, grassy terraced lawns, and “hidden” stairways leading down to 320 feet of waterfront footage, the beachside spread is accessible via gated entrance and exit gates and a private road off South Coast Highway and could be subdivided into seven lots “free of HOA oversight and limitations” per the listing , which is held by Lindsay Clark Shields of Engel & Völkers Laguna Beach.

Dubbed Seashore Serenity, the land features three residential structures, with other notable amenities including a gated pathway leading to a secluded beach, plus a large deck known as The Ledge that’s been used for family gatherings and special events. There’s also an outdoor kitchen, as well as a fire pit, a sports court, and a saltwater swimming pool on the beach that was built out of rocks.

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“After holding this estate for 28 years, the family is entering into a new chapter of life, which opens the opportunity for a buyer to realize their own vision for this legacy property,” says Shields. “For those who want all that Orange County has to offer and also seek a pristine, private retreat from the world, this rare opportunity to craft and define the last significant landholding in Southern California may never come again.”

Eight homes topping the $50 million mark are currently for sale in Orange County per Redfin , including a Newport Beach estate in the exclusive Crystal Cove pocket on the market for $60 million ; a nearby residence on ultra-exclusive Harbor Island that was first listed for $74 million and has since been reduced to $64 million ; and the most expensive by far, a 42-acre hilltop compound in San Juan Capistrano listed for a whopping $150 million . The area’s highest-priced sale to date is still a $70 million oceanfront mansion in Laguna Beach’s Irvine Cove community that sold to hedge-fund manager Joseph Edelman in 2021.

Click here for more photos of Seashore Serenity.

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