Beach is 4 blocks away; very good school, shopping, restaurants, etc all walking distance. Very low crime. The town is still a great place, though I can't say the same for the rest of LA county or the State.
But for real obscene - check out this nearby charming 3,400 square foot beach cottage - now reduced to only $16.9 million - and also being sold as a "teardown"
Interesting...I looked at the taxes on this place, and mine are $2,000 more/yr with a similar assessed value.