Rare North Laguna Compound -- Ocean Views and Endless Possibilities! Discover an exceptional opportunity in highly desirable North Laguna. This flexible, ocean-view, coastal compound offers approximately 1,999 sq. ft. of total living space, comprising a 1,758 sq. ft. duplex and a 241 sq. ft. detached guest unit (currently in process for ADU approval). Featuring 4 bedrooms and 3 bathrooms, along with the studio, this property is thoughtfully configured for flexibility offering a variety of possibilities such as an owner user, owner-occupancy with income, multigenerational living, or a premium long-term investment. Both residences offer comfortable living spaces with abundant natural light, coastal breezes, and a strong connection to the surrounding outdoor areas. The upper residence enjoys elevated neighborhood and expansive ocean views, while the lower residence opens to shared front and rear yards with ocean views and city lights from the outdoor spaces. Each residence offers its own appeal while providing the relaxed indoor-outdoor lifestyle that defines North Laguna. The detached rear guest unit (potential future ADU), with its own private garden adds another layer of versatility, creating additional space for guests, a home office, creative studio, or rental income. The flat lot and shared outdoor areas provide room for entertaining, dining, relaxing, and enjoying the coastal setting--an increasingly valuable feature in North Laguna. Additional features include a garage, driveway parking, rear alley access, shared laundry, and on-site storage. Located near Diver's Cove, Fisherman's Cove, Heisler Park, beaches, restaurants, galleries, shops, and coastal trails, this property places the best of North Laguna within easy reach. With its rare combination of multiple residences, a future detached ADU, outdoor space, views, and location, this is an exceptional opportunity to own a flexible coastal property in one of Laguna Beach's most desirable neighborhoods.