312 Emerald Bay
About This Property
Situated on one of the most tranquil and child-friendly one-way streets in the community, the property boasts a desirable orientation that captures coastal breezes and sunlight throughout the day. The existing 3-bedroom, 3-bathroom home provides comfortable living with multiple private outdoor spaces-all showcasing views of the Pacific. However, the true value lies in the long-term potential to rebuild and create a legacy home tailored to your vision.
Emerald Bay is more than just a neighborhood-it's a lifestyle. As a resident, you'll enjoy access to a private white sand beach, an oceanfront pool complex, six tennis courts, sand volleyball, basketball courts, a clubhouse, lush parks, and year-round community events and children's programs. The Mediterranean-style charm and unmatched security of this gated enclave offer a sense of tranquility rarely found on the California coast.
Just a short stroll from Palm Tree Circle and moments away from Laguna Beach's world-class dining, art galleries, and surf, this is a generational opportunity to create lasting memories and long-term value in one of Southern California's most sought-after coastal communities.
Emerald Bay is where luxury meets lifestyle-and your dream home awaits.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 19, 2025 | Sold | ||
| Sold | |||
| Nov 14, 2025 | In contract | - | |
| In contract | |||
| Oct 8, 2025 | Listed by The Agency | $5,095,000 | |
| Listed by The Agency | |||
| Jul 17, 2025 | Price Decreased |
$5,450,000
↓ $545K
(9.1%) | |
| Price Decreased | |||
| Jun 12, 2025 | Price Decreased |
$5,995,000
↓ $400K
(6.3%) | |
| Price Decreased | |||
Property Highlights
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About Emerald Bay
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017