location, Location, LOCATION!!  This amazing custom built (completely rebuilt in '07) home is located on one of the quieter and most sought after lower Malaga Cove streets.  From the moment you walk into the front door you will immediately notice the quality and attention to detail that was given rebuilding this home.  This beautifully built home features 5 bd, 4.5 bth plus an amazing outdoor living space.  The home offers 4 fireplaces (living rm, fam rm, master & outdoor).  Commanding panoramic ocean and queen's necklace views from many rms.  3 common living areas- the liv rm, f'rm and an upstairs media rm.  The large fam rm is open to the kitchen and outdoor entertaining backyard.  The master suite offers a magnificent view from the bedroom as well as the adjacent office.  The kitchen and informal eating area are ideal for entertaining and flow directly to the fam rm as well as the fabulous outdoor space.  The backyard offers a nice sized pool and an ocean view hot tub area.  The outdoor kitchen offers a built in BBQ, fridge and sink.  The outdoor liv area includes a living space with fireplace and a built in dining area.  In addition, there is a nice sized pool, spa and a nice sized grass backyard.  Other features include numerous sets of french doors throughout the home, 1 3/4 solid mahogany doors, custom hand painted spanish tiles, heated stone flrs in 2 bths, fam rm and kitchen.  Short distance to PV Bluffs, PV Beach Club and RAT beach.  Hurry this one will not last!!