$34,500,000

**Legacy by the Sea: A Rare Two-Residence Compound in Emerald Bay**A truly extraordinary opportunity within the prestigious guard-gated community of Emerald Bay in Laguna Beach. Situated on the highly coveted ocean side of Pacific Coast Highway, this exceptional legacy compound encompasses two separate residences on two legal parcels, creating one of the most unique offerings ever available within this world-renowned coastal enclave. Together, 157 and 159 Emerald Bay offer approximately 8,856 square feet of living space on a combined 15,706 square feet of grounds, thoughtfully designed for multi-generational living, grand-scale entertaining, and effortless coastal luxury. Sweeping ocean views, expansive indoor-outdoor living spaces, and an unmatched collection of amenities define this one-of-a-kind estate in absolute pristine condition. The main residence features elegant formal and casual living spaces, a chef's kitchen, elevator access, theater and bonus rooms, fitness area, conditioned wine room, extensive storage, and a five-car garage. The secondary residence offers contemporary coastal design, a dramatic great room with disappearing walls of glass, designer kitchen, private office, guest suite, a custom bunk room plus a two-car garage. Resort-inspired grounds include a s