1427 Abelia, Irvine, California 92606, Irvine, - bed, bath
ACTIVE$600,000
1427 Abelia, Irvine, California 92606
2Beds
2Baths
1,261Sqft
1,261Lot
Year Built
2006
Close
-
List price
$600K
Original List price
$600K
Price/Sqft
-
HOA
$185
Days on market
-
Sold On
-
MLS number
OC24174220
Home ConditionGood
Features
Good View: Neighborhood
Pool
ViewNeighborhood
About this home
Affordable Housing/First Time Buyer program. Income and purchase price limitation restricted by the City of Irvine affordable housing/first time Buyer program. Buyer must be approved by the City of Irvine as a first time Buyer to purchase this property. https://www.cityofirvine.org/affordable-housing/affordable-home-ownership
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (12 Listings) | |
|---|---|---|---|
| Beds | 2 | 2 | 50% |
| Baths | 2 | 2 | 50% |
| Square foot | 1,261 | 1,129 | 54% |
| Lot Size | 1,261 | 50,600 | 8% |
| Price | $600K | $890K | 8% |
| Price per square foot | $476 | $750 | 8% |
| Built year | 2006 | 1995 | 92% |
| HOA | $185 | $285 | 31% |
| Days on market | 421 | 158 | 92% |
Condition Rating
Good
The property was built in 2006, placing it within the 10-20 year range. The images show that the property is well-maintained. The kitchen and bathrooms appear functional and reasonably updated, but not fully renovated. The flooring looks modern and in good condition. Overall, the property appears move-in ready with no immediate major renovations required.
Pros & Cons
Pros
Affordable Housing Program: The property is part of the City of Irvine's affordable housing/first-time buyer program, making it accessible to a specific segment of the market.
First-Time Buyer Opportunity: Specifically targeted towards first-time buyers, potentially reducing competition and offering unique financing opportunities.
Location in Irvine: Located in Irvine, known for its excellent schools, safe neighborhoods, and master-planned community amenities.
Built in 2006: Relatively newer construction compared to older properties, potentially reducing immediate maintenance concerns.
Association Amenities: The association fee suggests access to community amenities, which can enhance the living experience.
Cons
Income and Purchase Price Restrictions: Strict income and purchase price limitations imposed by the City of Irvine program significantly narrow the pool of eligible buyers.
Buyer Approval Process: Buyers must be approved by the City of Irvine, adding a layer of complexity and potential delays to the purchase process.
Limited Resale Market: Resale may be restricted to eligible first-time buyers, potentially limiting future appreciation and resale options.