Joe Francis’ Father Sold SoCal Beach House for $25 Million – Rob Report
Although it has never been officially put on the market, this lavish residence in Laguna Beach has long been owned by businessman Raymond Francis and his wife, Maria, the parents of… Girls gone wild Its founder, Joe Francis, sold to a neighbor for $25 million, a big figure for Orange County’s guarded Emerald Bay enclave and among the largest sums ever paid for an Emerald Bay home without direct beach access.
Records show the buyer is veteran mortgage lender/entrepreneur Evan M. Stone — co-founder and CEO of Champions Funding, a company that provides non-traditional mortgage financing services — who also bought a smaller home in Emerald Bay last summer, paying $8.5 million. . Stone also serves as Chairman of Community Savings Bank, as well as co-owner and partner of Rep 1, a sports agency for professional athletes such as Los Angeles Rams receiver Cooper Kupp and Detroit Lions quarterback Jared Goff that was recently acquired by Excel Sports. administration.
The Francis family paid $2.2 million for the Emerald Bay property about 27 years ago, in May 1996, before completely leveling and rebuilding an existing house on the site. Completed in 2007 and set on approximately a quarter-acre, the resort-style home features five bedrooms and seven bathrooms spread across nearly 7,600 square feet of two-story living space with sweeping views of the Pacific Coast and surrounding cliffs.
Once inside, the interiors are graced with high coffered ceilings, custom millwork, ornate stair railings, handcrafted chandeliers and clerestory windows. Luxurious amenities range from two wood-paneled offices and a wine tasting room to a wet bar, screening room and sauna-equipped gym.
Additional features include formal living and dining rooms, plus a gourmet kitchen equipped with custom cabinetry, stone countertops, a center island, top-notch stainless appliances, a butler’s pantry, and an accompanying breakfast nook. There’s also a lavish master retreat with a fireplace, sliding glass doors that open to a private ocean-facing patio, a walk-in closet, and a spa-inspired bath featuring a double vanity, dressing area, deep soaking tub, and separate shower.
Outdoors, the landscaped grounds host several terraces decorated with fire features, as well as a fountain, built-in barbecue and putting green. Almost all of it: an attached two-car garage, plus an $8,200 annual HOA fee that allows Emerald Bay residents access to a private beach, a small Olympic-sized pool, tennis courts, parks and playgrounds.
The listing is maintained by Tim Smith of Coldwell Banker Realty. Maura Short and Michelle Cormier of Compass represented the buyer.
Click here for more photos of 145 Emerald Bay.