There are nearly 10 million second homes in the U.S. and the majority sit unoccupied for 10 to 11 months a year. Meanwhile, millions of people dream of owning and enjoying a second home. To solve this, Austin Allison and Spencer Rascoff of Zillow created Pacaso, a service to expand second home ownership. Whether you prefer the chic Malibu scene, a relaxed San Diego vibe, or a vibrant Miami lifestyle, through Pacaso, you can own a share of a second home, from 1/8 to 1/2, and experience real estate ownership in any one of these luxury waterfront properties.
Ocean Blvd – Corona del Mar, CA (pictured above)
Price: $8.69 million; for $1.26 million for 1/8 ownership
Gracious coastal living awaits along Corona del Mar’s famed Ocean Boulevard. With classic columns and a grand turret, this masterfully crafted 4-bedroom, 5-bath home offers luxurious spaces while feeling intimate and inviting. The formal living room faces the ocean, with light pouring through doors leading to a front patio. The adjoining dining space is nestled in a window-filled curved alcove. Climb the grand, curved staircase to four suites. The relaxing master includes a fireplace, private balcony and a curved sitting room with an ocean view. The spa-like bathroom has a steam shower and soaking tub. The other bedrooms feature private baths, vaulted ceilings and patios. At the back of the home are a laundry room and 3-car garage. Corona del Mar, CA, is close to multiple beaches and restaurants. The home comes fully furnished and professionally decorated.
Fairhaven – Miami, FL
Price: $6.85 million; $1.017 million for 1/8 ownership
Cool and crisp, this contemporary Coconut Grove waterfront home is in the tree-lined Fairhaven neighborhood. The fully renovated 4-bedroom, 4.5-bathroom home has 50 feet of water frontage with a private dock and direct ocean access. Three levels of luxury await behind an Oolite stone and Ipe wood gate. The design elements include three balconies and walls of glass overlooking the water, multiple entertaining and living spaces inside and out, and an inviting dockside plunge pool. A beautiful floating staircase artfully connects the levels for a seamless flow between floors. The open plan main floor is bright and spacious, featuring a glass-doored seating area, dining space and gourmet kitchen with high-end appliances. The stunning primary bedroom is highlighted by a wall of windows with water views and a massive closet. The spa-like en suite bathroom has stone-clad walls and floor, dual-sink vanity, oval soaking tub, separate shower and sauna. The home, which includes a 2-car garage and smart-home features, comes fully furnished and professionally decorated.
Plaza Del Sur – Newport Beach, CA
$5.7 million home; $840,000 for 1/8 ownership
Just minutes from Balboa Pier Beach, this completely renovated and redesigned 4-bedroom, 4.5-bath home makes a perfect coastal retreat. Perched on a corner lot, the three-story home is filled with light, relaxing spaces to enjoy with family and friends. Topping it off is an expansive rooftop deck with stunning ocean views.
Aquamarine – Malibu, CA
$5.6 million; $812,000 for 1/8 ownership
You can’t beat the show-stopping views in this 3-bedroom, 3-bath Malibu retreat, as massive windows and glass doors frame vistas stretching from Palos Verdes to Point Dume. This artful beachside home is located in a coveted cove, with the beach literally a stone’s throw away. The beachside chic-meets-modern vibe resonates through the newly remodeled home. French oak floors throughout unify the space, and the main level is lined with floor-to-ceiling glass doors to let the sunshine in and offer effortless access to the balcony overlooking the ocean.
Sunset Bay – San Diego, CA
$4.2 million; $633,000 for 1/8 ownership
This new-construction Mission Beach home is just steps from the sand and designed with entertaining in mind. The 4-bedroom, 3.5-bathroom coastal contemporary offers four levels of relaxed luxury, including nearly 750 square feet of decks. The great room is bathed in natural light and features polished concrete floors and a built-in bar and media wall with a sleek fireplace. A window wall opens to an enclosed patio space with BBQ grill, stunning water views and access to the bay.
Pacaso operates in more than 30 top second home destinations across the U.S. and in Spain.