Business Real Estate

Orange County castle

Location: 770 Hillcrest Drive, Laguna Beach 92651

Asking price: $11.4 million (reduced from $15 million in September)

Size: Twelve units (plus four nonconforming units) in various sizes, including studios, one and two bedrooms, with one three-bedroom, three-bathroom penthouse. Main building, 15,000 square feet; accessory building, 3,300 square feet

Lot size: 3.7 acres

Additional features: Community pool and spa, laundry area, patio and outdoor cooking area, 28 reserved parking spaces, basement.

Around the neighborhood: Through the first three quarters of 2010, 237 existing single-family homes sold in the 92651 ZIP Code at a median price of $1,205,000 according to MDA DataQuick. That was a 2% increase from the first half of 2009.

Co-listing agents: Rick Balzer, Prudential, (949) 793-2075; Shauna Covington, Prudential (949) 395-8786

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