323 Iris AVE Corona Del Mar, CA 92625
Sale
$3,695,000
2 Units
6 Beds
4 Baths
2,492 Area(sq.ft.)
4,356 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 3 | 2 | No | $ 3,695 | $ 3,695 | $ 4,695 |
| Unit 2 | 1 | 3 | 2 | No | $ 4,600 | $ 4,600 | $ 4,995 |
| 2 | 2 | 6 | 4 | $ 8,295 | $ 8,295 | $ 9,690 |
| MLS #: | NP24045926MR |
| Days On Market: | 1 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,483 |
| Price per unit: | $ 1,847,500 |
| Year Built: | 1977 |
Property Details
Welcome to a rare and exceptional opportunity in the heart of Corona Del Mar village, where coastal living meets investment potential. This cosmetically remodeled duplex, nestled in a prime location south of Pacific Coast Hwy and Bayside Drive, offers an unparalleled lifestyle with close proximity to the renowned beaches of CDM. Zoned R2, this property boasts a commanding view of the park/playground below, the charming neighborhood, and the picturesque hills of Newport Coast. At the end of a tranquil cul-de-sac, this duplex provides a peaceful retreat while being within walking distance of the sun-soaked shores. Both units, currently occupied on a month-to-month basis, feature a desirable 3-bedroom, 2-bathroom layout with upgraded kitchens and bathrooms. The large balcony upstairs presents an idyllic spot to soak in the panoramic views of the park and surrounding neighborhood. This spacious duplex not only offers a comfortable residence but also unlocks various income opportunities. With excellent walkability, residents can explore world-class dining options in the village, access renowned schools, indulge in shopping, traverse scenic hiking trails, and tee off at nearby golf courses. Whether you're considering redevelopment or seeking to enhance the revenue of a trophy cash-flowing asset, this property is primed for success. Seize the chance to own a piece of Corona Del Mar's coveted real estate, where every day is an opportunity for coastal bliss and investment prosperity.Interested in this Listing?
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Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 11,972 |
| Net Operating Income: | $ 87,568 |
| Actual Gross Rent: | $ 99,540 |
Structure
| Amenities: | Hiking Trails |
| Community Features: | Curbs, Fishing, Hiking, Park, Sidewalks, Street Lights, Urban |
| Sewer: | Public Sewer |
| View Description: | Bluff, City Lights |
| Water: | Public |
Land & Parking
| Land Lease Type: | Fee |
Interior
| Cooking Appliances: | Range |
| AC/Cooling: | None |
| Equipment: | In Closet, Inside |
| Heating: | Forced Air |
| Fireplace Rooms: | Living Room |
| Laundry: | In Closet, Inside |
Exterior
| Exterior Construction: | Stucco |
| Pool: | No |
| Roof: | Shingle |
| Spa: | No |
Detailed Map
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Income
