In a bit of interesting property news from California, the auction of an exclusive beachfront estate, The Beach House at Dada Point, brings to mind days gone by. The roaring 20's, Hollywood movie moguls, and the first inklings of what Southern California would resemble today.
Located in the city developed in 1923 by Los Angeles Times publisher Harry Chandler and General M.H. Sherman, Director of the Pacific Electric Railway Company, the so called "Dana Point Syndicate" invited all the heavy hitters of the day to invest in buying the original 1,388 acres beachfront and inland property for the project.
Fast forward past many developments and much history, and some of the original "Woodruff Homes" are still occupied. The Capistrano Beach affair, Teapot Dome, this area of California is not only charming, but full of intrigue as well.
Aside the area history, and onward to the live auction to be held on November 11th, Concierge Auctions and First Team Real Estate, are selling the beach property formerly listed for $10.5 million on the bloc with only a reserve of half that amount. Designed by James Glover, the property consists of a 4,000 square foot beach house with 4 bedrooms, 5 bathrooms, a movie theater, wine cellar, four interior and two outdoor fireplaces, and stunning panoramic views.
Looking out over San Clemente Pier to Dana Point Harbor, the property also offers the new owners a seafront courtyard which includes its own stone fireplace and BBQ area. The property is expected to bring excess of the $5 million reserve, somewhere in the neighborhood of the current owners $8.5 million purchase price. The property was recently renovated too, to the tune of an additional $1 million.
The property will be available for viewing daily from 1 to 4 pm by appointment, according to the press release. for more information, please visit DanaPointAuction.com or call 866-605-7287.