424 Mendoza Terrace, Corona Del Mar, California 92625, Corona Del Mar, - bed, bath

home-pic
ACTIVE$4,950,000
424 Mendoza Terrace, Corona Del Mar, California 92625
3Beds
3Baths
2,800Sqft
7,139Lot
Year Built
1952
Close
-
List price
$4.95M
Original List price
$4.95M
Price/Sqft
-
HOA
$385
Days on market
-
Sold On
-
MLS number
OC25174597
Home ConditionPoor
Features
Excellent View: Catalina, City Lights, Coastline, Canyon, Ocean, Panoramic
ViewCatalina,City Lights,Coastline,Canyon,Ocean,Panoramic

About this home

Newly listed, high on a hill in Corona Highlands, is a super prime residential home, on one of the Highlands most spectacular view lots. Featuring over 200 degrees of wide Pacific Ocean views from the waters off South County, to a full-on view of Catalina, boating activity, Newport Harbor, city lights and more. This prime location is suitable for updating the existing residence of approximately 2800 square feet, or starting anew on the approximately 7200 square foot useable lot, that goes all the way through to the street below Mendoza Terrace. Corona Highlands is now going through a metamorphosis of many new spectacular new home construction projects. Just a short walk down the hill are all of the conveniences that Coast Highway has to offer, including fine dining, banks, boutiques, specialty stores and more. Heading south on Coast Highway leads to the gateway of South Orange County, including Crystal Cove, Laguna Beach, Dana Point and San Clemente-on.

Nearby schools

9/10
Harbor View Elementary School
Public,PK-60.7mi
9/10
Corona Del Mar High School
Public,7-122.9mi

Price History

Date
Event
Price
08/08/25
Listing
$4,950,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (55 Listings)
Beds33
50%
Baths33
50%
Square foot2,8002,610
59%
Lot Size7,1397,881
38%
Price$4.95M$5.03M
50%
Price per square foot$1,768$1,962
30%
Built year19529840984
14%
HOA$385$770.5
39%
Days on market90170
13%
Condition Rating
Poor

The property, built in 1952, is explicitly described as suitable for 'updating the existing residence' or 'starting anew,' indicating the current structure is not the primary value. The bathroom images confirm a highly dated interior with white square tiles, glass block windows, and gold-framed shower, suggesting a renovation from 30-40 years ago. This condition requires substantial rehabilitation, including a full gut renovation of key areas like the bathroom and likely the kitchen, to meet modern standards. While not stated as unlivable, its age and outdated features make it uncomfortable for a high-end market, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Unparalleled Panoramic Views: Offers over 200 degrees of wide Pacific Ocean views, including Catalina, Newport Harbor, and city lights, from a prime elevated position.
Exclusive Corona Highlands Location: Situated in the highly desirable Corona Highlands, a neighborhood undergoing significant new luxury home development, ensuring strong future value.
Significant Development Potential: The large, usable 7200 sqft lot provides flexibility for a substantial remodel of the existing 2800 sqft home or new construction of a custom estate.
Convenient Walkability: Enjoy easy walking access to Coast Highway amenities, including fine dining, boutiques, and specialty stores.
Proximity to Coastal Destinations: Located at the gateway to South Orange County's premier coastal attractions like Crystal Cove, Laguna Beach, and Dana Point.

Cons

Age and Condition of Existing Structure: Built in 1952, the current 2800 sqft residence likely requires extensive updating or is considered a tear-down, necessitating significant additional investment.
Substantial Renovation/Rebuild Required: The property is marketed as a site for 'updating' or 'starting anew,' indicating it's not a move-in ready luxury home and will incur considerable construction costs.
High Entry Price for a Development Opportunity: The $4.95 million list price is for a property primarily valued for its land and view potential, requiring a buyer with substantial capital for both acquisition and subsequent development.

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