1124 Scholarship, Irvine, California 92612, Irvine, 92612 - 1 bed, 1 bath
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1124 Scholarship
Irvine, California 92612
ACTIVE
CONDITION: FAIR
1Beds
1Baths
734Sq Ft
134,548Lot Size
Property Price
LIST PRICE$520,000
EST. MARKET VALUE
$537,006
3% BelowMARKET VALUE
SUMMARY
This Condominium represents a Strong Value Opportunity, listed at a List Price of $545,888—positioned well below the $545,344 Fair Market Value by a negligible margin, reflecting a stable, market-aligned price. Featuring a Granite Kitchen, Private Patio, and In-Unit Laundry, the property maintains a Fair Condition Rating consistent with its 2005 build. While the Santa Ana Unified school district alignment may impact long-term family appeal, the strategic location near UC Irvine and major transit hubs makes this an ideal acquisition for Buy-and-Hold Investors or first-time buyers.
Estimated Market Value
$537,006+$17,006 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Irvine.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1124 Scholarship Subject 1 bd · 1 ba · 734 sqft · $732 | $520,000* List Price | 1 | 1 | 734 | $732 | - |
A 2448 Watermarke Sold 1 bd · 1 ba · 868 sqft · $712 · 0.2 mi | $618,000 | 1 | 1 | 868 | $712 | 0.2 mi |
B 2220 Watermarke Place Sold 1 bd · 1 ba · 648 sqft · $815 · 0.2 mi | $528,000 | 1 | 1 | 648 | $815 | 0.2 mi |
C 2448 Scholarship Sold 1 bd · 1 ba · 895 sqft · $749 · 0.1 mi | $670,000 | 1 | 1 | 895 | $749 | 0.1 mi |
D 2219 Scholarship Sold 1 bd · 1 ba · 610 sqft · $877 · 0.1 mi | $535,000 | 1 | 1 | 610 | $877 | 0.1 mi |
E 2414 Watermarke Sold 1 bd · 1 ba · 648 sqft · $856 · 0.2 mi | $555,000 | 1 | 1 | 648 | $856 | 0.2 mi |
F 3458 Watermarke Sold 1 bd · 1 ba · 868 sqft · $726 · 0.1 mi | $630,000 | 1 | 1 | 868 | $726 | 0.1 mi |
G 3131 Watermarke Sold 1 bd · 1 ba · 648 sqft · $818 · 0.2 mi | $530,000 | 1 | 1 | 648 | $818 | 0.2 mi |
H 3241 Watermarke Sold 1 bd · 1 ba · 835 sqft · $701 · 0.2 mi | $585,000 | 1 | 1 | 835 | $701 | 0.2 mi |
I 3202 Watermarke Active 1 bd · 1 ba · 746 sqft · $737 · 0.2 mi | $550,000 List Price | 1 | 1 | 746 | $737 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 2005, the property is just over 20 years old, placing it in the Fair category based on age. While it features granite countertops and a well-maintained exterior, the interior finishes and core systems are likely original and reaching the end of their typical lifespan, indicating a need for minor updates.
PROSSTRENGTHS & OPPORTUNITIES
- Strategic Location
Situated in the heart of Irvine's Airport Area, the property offers exceptional proximity to UC Irvine, John Wayne Airport, and major business hubs, making it highly desirable for professionals and students.
- Modern Interior Features
The residence boasts a contemporary open-concept layout featuring granite countertops, a private patio, and the high-demand convenience of in-unit laundry facilities.
- Investment Versatility
With its competitive price point and location near major transit corridors and shopping, this unit serves as an excellent entry-level purchase or a high-yield opportunity for savvy rental investors.
CONSRISKS & DEFICIENCIES
- High Association Fees
The $420 monthly HOA fee adds a significant recurring cost to the ownership, which may impact the overall affordability and debt-to-income ratio for some buyers.
- School District Alignment
Despite the Irvine address, the property is served by the Santa Ana Unified School District rather than the highly-rated Irvine Unified, which could influence long-term appreciation and appeal to families.
About 1124 Scholarship
Welcome to beautiful Avenue One! This stylish residence features an open-concept floor plan, granite kitchen countertops, and a sun-filled living area that opens to a private patio. The spacious bedroom offers generous closet space, complemented by a relaxing soaking tub and convenient in-unit laundry. Enjoy an exceptional location just steps from dining and shopping, and minutes from John Wayne Airport, UC Irvine, the 405 Freeway, and so much more. Perfect for first-time buyers, savvy investors, or those looking to downsize without sacrificing comfort and luxury.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 2005
- Lot Size
- 134,548 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $420.0 / Month
Neighborhood Insights
Irvine Unified Schools
Monroe Elementary School
Grades K-5 • 3.2 mi
4/10
Mcfadden Intermediate School
Grades 6-8 • 4.0 mi
3/10
Century High School
Grades 9-12 • 4.3 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.7 |
| Baths | 1.0 | 3.0 |
| Square foot | 734 | 1,685.105 |
| Lot Size | 134,548 | 42,358.594 |
| Price | $520.0K | $1.21M |
| Price per sq ft | $708 | $740 |
| Built year | 2005 | 2010 |
| HOA | $420.0 | $280 |
| Days on market | 30 | 61 |
Pricing History
Listed for Sale
Oct 15, 2026
$520,000
$545,888
-5% Price Drop
Initial Listing
Price Change
Sep 25, 2026
$545,888
Initial Listing
Sold
Oct 2, 2013
$330,000
Public Record
Sold
Jan 30, 2008
$253,500
Public Record