705 Orchid Avenue

Corona del Mar, CA 92625

$3,295,000

List Price

5

bed Beds

5

shower Baths

2,967 sqft

straighten / sqft

1969

calendar_month Built

Property Description

Welcome to the gorgeous seaside community of Corona Del Mar! World class shopping, entertainment & dining, coupled with beautiful weather all year makes this coastal paradise extremely attractive to discerning homebuyers, capable developers, and savvy investors! Just a few short blocks to downtown CDM & to the beach, this beautiful duplex offers two spacious units: A 3 bedroom 3 bathroom in the picture-perfect front cottage, and 2 bedrooms & 2 bathrooms in the rear unit. The property has a two car garage, a lovely central courtyard separating the front and rear units, and community laundry in the garage (separate hookups for each unit). The property is being sold as-is. From a re-development perspective, the subject property is an ideal candidate for redevelopment. The city of Newport Beach launched an incentive program for the preservation of beach cottages on January 25, 2022, which allows owners to build substantial additions (up to 50 percent of the existing floor area or a maximum of 750 square feet) without providing the minimum code-required parking. Only the structure affected by the renovation/addition will have to comply with current building code standards. Refer to city website for more details.

Listing Information

List Price $3,295,000
Status Active
MLS OC24196512
HOA $0
Type Residential
Subtype Duplex
Year Built 1969
Lot Size 3,385
Structure Size 2,967
DOM 6
Courtesy Of Anchor West Properties, Inc.
Listing Agent James Vanar DRE#01389279

Interior Features

Laundry Information
Location(s) In Garage
Total Bedroom
Bedrooms 5
Total Bathroom
Bathrooms 5
Fireplace Information
Features Family Room
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: James Vanar, Anchor West Properties, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 5:46 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.