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1727 Galatea Terrace, Corona Del Mar, California 92625, Corona Del Mar, 92625 - 3 bed, 2 bath

1727 Galatea Terrace, Corona Del Mar, California 92625 home-pic-0
ACTIVE UNDER CONTRACT$7,499,000
1727 Galatea Terrace, Corona Del Mar, California 92625
3Beds
2Baths
2,320Sqft
13,050Lot
Year Built
1958
Close
-
List price
$7.5M
Original List price
$7.5M
Price/Sqft
$3,232
HOA
$75
Days on market
-
Sold On
-
MLS number
NP25267624
Home ConditionPoor
Features
Excellent View: Catalina, Ocean
Patio
ViewCatalina, Ocean

About this home

Fairly Priced:The estimated price is in line with the list price. We found 3 Cons,7 Pros. Rank: price - $7.50M(73th), sqft - 2320(34th), beds - 3(50th), baths - 2(32th).

Experience sweeping views of Catalina Island, Newport Harbor, Pacific Ocean and city lights from this rare offering in Irvine Terrace! Available for the first time in decades, this home sits on a quiet street atop an expansive lot in excess of 13,000 square feet. The home currently offers 3 bedrooms, 2 bathrooms, and approximately 2,323 square feet of living space presenting a remarkable opportunity to remodel or design and build your dream custom estate. A spacious private courtyard provides a tranquil retreat, while the backyard showcases dramatic sunsets and endless views. Ideally situated near Fashion Island, Corona del Mar Village, top rated schools, and some of Southern California’s most beautiful beaches, this property combines unmatched potential with an ideal location!

Nearby schools

9/10
Harbor View Elementary School
Public,•PK-6•0.7mi
7/10
Abraham Lincoln Elementary School
Public,•K-6•1.3mi
9/10
Roy O. Andersen Elementary School
Public,•K-6•1.8mi
9/10
Newport Coast Elementary School
Public,•PK-6•3.4mi
9/10
Corona Del Mar High School
Public,•7-12•2.1mi

Price History

Date
Event
Price
12/01/25
Listing
$7,499,000
Condition Rating
Poor
Built in 1958, this property is significantly aged with interiors that appear to have seen no major renovations in over 50 years. The kitchen features extremely dated white appliances, basic flat-panel cabinets, and old countertops, requiring a complete overhaul. Both bathrooms are also severely outdated with old fixtures, tiling, and lighting, indicative of their original or very early renovation state. While the structure appears intact, the property requires substantial repairs and rehabilitation, including likely extensive system replacements (electrical, plumbing, HVAC) to meet modern standards. The listing itself highlights an 'opportunity to remodel or design and build,' reinforcing that the current state is functionally obsolete and very uncomfortable, necessitating a full gut renovation rather than minor updates.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13050, living area = 2320.
Great Schools: Elementary School: Roy O. Andersen Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Panoramic Views: The property boasts sweeping views of Catalina Island, Newport Harbor, the Pacific Ocean, and city lights, offering a highly desirable and valuable amenity.
Prime Location: Ideally situated in Corona del Mar, near Fashion Island, Corona del Mar Village, top-rated schools, and Southern California's beautiful beaches, enhancing its appeal and convenience.
Expansive Lot Size: Sitting on a generous lot in excess of 13,000 square feet, this property provides ample space for potential expansion, landscaping, or a custom estate.
Redevelopment Potential: Presents a remarkable opportunity to remodel the existing structure or design and build a custom dream estate, offering significant upside for a discerning buyer.
Exclusive Offering: A rare offering in the prestigious Irvine Terrace subdivision, available for the first time in decades, indicating a unique and sought-after investment opportunity.

Cons

Age of Property: Built in 1958, the existing home is significantly older and likely requires extensive modernization or a complete rebuild to meet contemporary luxury standards and maximize its potential.
Outdated Structure: The current 3-bedroom, 2-bathroom layout and 2,323 sqft living space may be considered modest for a property of this lot size and location, suggesting the primary value lies in the land and views.
Significant Additional Investment: The description highlights the 'opportunity to remodel or design and build,' implying that substantial additional investment beyond the purchase price will be necessary to realize the property's full value and potential.

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