We really enjoyed our stay! The cottage was clean and comfortable. The kitchen was well-stocked and there's a grocery store just around the corner, so getting food was easy. The park and beach are just a couple blocks away, and you can walk to downtown, about 1/2 mile, in 10 minutes. We had a car for day-tripping (i.e., Ballast Point Brewing), but you wouldn't need a car if you just want the Laguna Beach experience. The only downside is that the back yard is right above Highway 1, so there is traffic noise on the deck. However, inside the house is nice and quiet and we slept well. Property is valuable in Laguna, and the houses and apartments are practically butted up to each other, but we had no noise from neighbors. This cottage is perfect for couple or a small family.
Restaurants near by: we had great meals at Asada, Number 3, Laguna Beach Beer Co., and Reunion Kitchen & Drink (make reservations). We also hiked many of the trails in the hills east of town.