Take advantage of this incredible remodel / investment opportunity in the heart of the Dana Point's Lantern Village. Potential to develop the existing single level home, build new or add a 2nd story to maximize panoramic 180 degree coastline, ocean, and city views! This double lot features ocean views on a flat lot, which is extremely rare in the heart of the lantern village neighborhood. This home shows investment potential as it is located .5 miles from the soon to be constructed city town center redevelopment project that will feature restaurants, shopping, entertainment and more. The property comes with a legal detached second living structure currently featuring 2 bedrooms, a large walk in closet and bathroom that could serve as a secluded master or private guest quarters. The abundance of privacy in the property is incomparable as there is no neighboring homes behind the lot, and minimal exposure both on the interior and exterior of the home to neighboring outdoor space or windows. �The large back yard features ample space to develop the dream outdoor entertainment space with ocean views and the potential of a spa or even a small pool.