LONG-TERM ($40,000/mo) OR SHORT-TERM ($80,000/mo) FURNISHED RENTAL. From its exclusive setting on the ocean side of Pacific Coast Highway in Laguna Beach's guard-gated Emerald Bay collection, this luxurious European-stye villa reveals tranquil ocean, bay, Catalina Island and sunset views. Offering three levels of sublime living space in approximately 3,719 square feet, the custom five-bedroom, four-and-one-half-bath residence easily caters to your preferences, whether you enjoy relaxing at home with loved ones, hosting extravagant gatherings, or weaving a bit of both together into one incomparable lifestyle. Stunning crystal chandeliers are featured throughout and make an especially grand first impression in a formal entry. The main level effortlessly combines a fireplace-warmed family room with built-ins and surround sound, an ocean-view dining room, and a remodeled kitchen into a borderless space that opens to a large view terrace, an intimate Juliet balcony, and covered ocean-view deck with fireplace. Showcasing custom mocha Shaker cabinetry, the island kitchen is characterized by a full backsplash, stone countertops, and top-of-the-line appliances including a six-burner range with griddle and custom hood. An elevator and a dramatic staircase provide easy access to all three levels. Tray ceilings, stone and wood flooring, patterned carpet, marble bath finishes, indoor/outdoor audio, designer wall treatments, and fashionable gold hardware and plumbing fixtures shine throughout. A romantic ocean-view balcony enhances the primary suite, which hosts a sitting room with fireplace, two sinks, and a multi-head shower. Residents of Emerald Bay enjoy exclusive access to the enclave's private beach, heated pool, soothing spa, tennis and basketball courts, scenic parks, playgrounds, and a picturesque location next to the beautiful Laguna Coast Wilderness Park. Home to its own fire station, the community is just minutes from acclaimed schools, downtown Laguna Beach, Crystal Cove, Newport Coast, Corona del Mar and Newport Beach.