Development Opportunity with plans. Situated in the prestigious enclave of Spyglass Hill, this tastefully updated single-story home offers breathtaking sit-down panoramic views of the Pacific Ocean, Catalina Island, Newport Harbor, and city lights. Currently, the home resides as a very livable 4 bedroom home encompassing 2,916 square feet of living space on a sprawling 12,850 square foot lot, seamlessly blends comfort and elegance. The open floor plan is designed for effortless entertaining, featuring a spacious living room with a fireplace, a thoughtfully designed kitchen, and expansive windows that frame the stunning vistas. For those seeking to create an architectural masterpiece, approved plans by the esteemed Laidlaw-Schultz Architects offer a vision for a custom-built 4,000 square foot, one-story estate. This future residence is designed to maximize the home's unparalleled views, featuring a private central courtyard, an elegant primary suite, and an open-concept living, dining, and kitchen area--all oriented to capture the coastal beauty. The plans also include a luxurious pool and outdoor spaces. In one of Corona del Mar's most desirable neighborhoods, this property offers proximity to renowned shopping, fine dining, world-class beaches, blue-ribbon schools, and scenic parks. Whether enjoying the existing home or bringing the new vision to life, this is a rare opportunity to own a slice of coastal paradise.