514 Iris Avenue, Corona Del Mar, California 92625, Corona Del Mar, - bed, bath

home-pic
ACTIVE$2,800,000
514 Iris Avenue, Corona Del Mar, California 92625
0Bed
0Bath
2,800Sqft
3,485Lot
Year Built
1962
Close
-
List price
$2.8M
Original List price
$2.8M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NP25105874
Home ConditionFair
Features
Deck
Patio
View-

About this home

Coastal Living at Its Finest – Exceptional Beach-Adjacent Duplex in Corona del Mar Welcome to this rare and remarkable opportunity in the heart of Corona del Mar Village, just steps from the sparkling sands and stunning shoreline of Southern California’s most coveted beaches. This charming duplex offers the perfect blend of investment potential and relaxed coastal lifestyle in one of Orange County’s premier seaside communities. 516 Iris Ave. also available for sale and is a near duplicate property. This two-unit property features a main floor and upstairs residence, each with private entrances, spacious living areas, and generous outdoor spaces ideal for entertaining or soaking up the ocean breeze. The upstairs unit features 3 bedrooms and 2 baths, highlighted by an inviting rear patio perfect for morning coffee or sunset gatherings. The downstairs unit, offering 3 bedrooms and 2 baths, includes a deck in the front and rear of the property. Additional amenities include an attached garage, in-unit laundry, and ample storage. Whether you're seeking a primary residence with income potential, a vacation home, or a long-term investment, this duplex delivers flexibility and exceptional value in an unbeatable location. Live the ultimate beachside lifestyle – stroll to renowned restaurants, upscale boutiques, scenic parks, and the iconic Corona del Mar State Beach. Properties like this don’t come along often. Don’t miss your chance to own a slice of paradise.

Nearby schools

9/10
Harbor View Elementary School
Public,PK-60.3mi
7/10
Abraham Lincoln Elementary School
Public,K-61.0mi
9/10
Roy O. Andersen Elementary School
Public,K-61.7mi
9/10
Newport Coast Elementary School
Public,PK-62.8mi
9/10
Corona Del Mar High School
Public,7-122.5mi

Price History

Date
Event
Price
05/13/25
Listing
$2,800,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (19 Listings)
Beds00
Baths00
Square foot2,8001,931
75%
Lot Size3,4853,540
45%
Price$2.8M$3.51M
15%
Price per square foot$1,000$1,802.5
10%
Built year19629760981
60%
HOA
Days on market177183
40%
Condition Rating
Fair

Built in 1962, this duplex is well-maintained and functional, but the kitchens and bathrooms are significantly dated. The upstairs kitchen features white tile countertops and flooring, while the downstairs kitchen has granite counters and white appliances, reflecting styles from 15-30 years ago. Bathrooms also show older tile work. While some updates like laminate flooring are present, the property requires minor updates, particularly in the wet areas, to meet current aesthetic and quality standards.
Pros & Cons

Pros

Exceptional Coastal Location: Situated in the highly desirable Corona del Mar Village, this property is just steps from pristine beaches, renowned restaurants, upscale boutiques, and scenic parks, offering an unparalleled lifestyle.
Significant Income & Investment Potential: As a duplex, this property presents a rare opportunity for substantial income generation, ideal for owner-occupancy with rental income, a lucrative vacation rental, or a long-term investment in a premium market.
Flexible Duplex Configuration: The two-unit property features distinct main floor and upstairs residences, each with private entrances, spacious living areas, and generous outdoor spaces, maximizing versatility for various living arrangements or rental strategies.
Dedicated Outdoor Living Spaces: Both units benefit from private outdoor areas, including an inviting rear patio for the upstairs unit and front/rear decks for the downstairs unit, enhancing the coastal living experience.
Practical Amenities: The property includes an attached garage, in-unit laundry facilities, and ample storage, providing essential conveniences and adding practical value for residents.

Cons

Property Age (1962 Build): Constructed in 1962, the property's age suggests that major systems and aesthetics may be original or dated, potentially requiring significant capital investment for modernization to meet current market expectations.
Absence of Views: Despite its prime coastal proximity, the property explicitly states 'None' for views, which is a notable disadvantage in a high-value area where ocean or city views are highly sought after and command a premium.
Potential for Dated Interiors/Systems: The property description does not highlight recent renovations or upgrades, implying that interior finishes and core infrastructure may be original or in need of updating, which could impact immediate move-in readiness or future maintenance costs.

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