Million dollar backyard

A 100-year old beach shack offering just a living room and tiny bathroom in Laguna Beach, California has this week hit the market with a staggering price tag of US$18.8 million (AU$26.5).

The value, inevitably, lies in the home’s 8,500-square-foot (790sq m) lot with sweeping views of the Pacific Ocean. Oh, and a private staircase down to the beach. Image: CRMLS