Welcome to 222 Wave Street, a once-in-a-generation opportunity in the heart of North Laguna Beach. Nestled just off Pacific Coast Highway and moments from the iconic shores of Shaws Cove and Crescent Bay, this exceptional coastal triplexcomplete with a bonus studiohas been cherished by the same family for nearly 40 years. Not offered for sale since the 1980s, it now presents a rare chance to own a piece of paradise in one of Laguna's most coveted areas. Set on an expansive lot with two distinct buildings, the front structure features two spacious units. On the upper level, a two-bedroom, two-bath home boasts unobstructed ocean views. Whether you're relaxing in the living room or enjoying the sunset on the private deck, the endless ocean is your constant backdrop. Inside, the vaulted beamed ceilings elevate the open-concept living room and kitchen and offers two bedrooms and two updated bathrooms. Below, the ground-floor three-bedroom, two-bath unit is ideal for those who prefer single-level living without compromising proximity to the ocean. Between the two buildings lies a sitting area, a tranquil courtyard setting perfect for morning coffee or entertaining guests. At the rear of the property, the second building includes a one-bedroom, one-bath unit with a bonus loftan ideal spot for an additional sleeping area or storage. Tucked behind is a fully equipped bonus studio featuring its own kitchenette, bathroom, and lofted sleeping space. The property has been thoughtfully improved over the years with modern touches, including updated flooring, quartz countertops, stainless