Rare generational opportunity to acquire a trophy asset located at 550 S. Coast Highway, a six-unit multi-tenant commercial retail property located on one of the most iconic stretches of Pacific Coast Highway in Laguna Beach, California. The 2,625 SF building sits on a 4,400 SF lot in the CBD-V (Central Business District Visitor) zoning district, surrounded by galleries, restaurants, and boutique retail that define Laguna Beach's renowned arts and tourism corridor. Offered at $3,995,000, the property presents a compelling value-add investment with current in-place rents significantly below market. The property currently generates $13,540/month in gross rental income across five occupied units. The Seller has used the sixth unit as storage and currently doesn't generate income. At market NNN rents of $84/SF annually and leasing the storage at $60/SF annually, the property achieves a stabilized Year 2 NOI of $211,527 — representing a 5.30% cap rate. The current in-place rent roll shows over 33% upside to market, providing a clear path to significant income growth through lease renewals and rent adjustments to market NNN terms. Laguna Beach is one of Southern California's most affluent and tourism-driven coastal communities, with year-round foot traffic from the Laguna Art Walk, Festival of Arts, Sawdust Art Festival, and the city's celebrated gallery district. The CBD-V zoning supports a mix of visitor-serving retail and gallery uses ideally suited to the tenant profile. With NNN lease structures eliminating landlord operating expenses, annual 3% rent escalations, and strong long-term demand for premium coastal retail space, this investment offers stable cash flow with embedded upside for a buyer seeking irreplaceable coastal California real estate.