14 Rainbow, Irvine, California 92603, Irvine, 92603 - 2 bed, 2 bath

14 Rainbow, Irvine, California 92603 home-pic-0
ACTIVE$1,275,000
14 Rainbow, Irvine, California 92603
2Beds
2Baths
1,523Sqft
Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Great Schools: Elementary School: Turtle Rock Elementary School (9/10). Middle School: Rancho San Joaquin Middle School (9/10). High School: University High School (9/10).
Top Cons:
Condominium Ownership & HOA Fees: As a condominium, the property is subject to a significant monthly association fee of $450, which adds to the overall cost of ownership and implies shared common areas.

Compared to the nearby listings

Price:$1.27M vs avg $1.33M ($-55,000)41%
Size:1,523 sqft vs avg 1,532 sqft48%
Price/sqft:$837 vs avg $86741%

More Insights

Built in 1979 (46 years old).
Condition: While the property benefits from recent updates such as new flooring, fresh paint, modern ceiling lights and fans, and central air conditioning, the kitchen and bathrooms show signs of being outdated. The kitchen features dated white tile countertops, an older white dishwasher, and cabinets that are not contemporary. Similarly, the bathroom's tiled shower and vanity countertop style appear to be from an earlier renovation, likely 15-25 years ago, rather than a recent modern update. These key areas would likely require significant aesthetic updates to meet current buyer expectations, placing the property in the 'Fair' category despite other recent improvements.
Year Built
1979
Close
-
List price
$1.27M
Original List price
$1.27M
Price/Sqft
$837
HOA
$450
Days on market
-
Sold On
-
MLS number
NP25227784
Home ConditionFair
Features
Good View: None
Patio
View-

About this home

Newly updated single-level home with no interior steps, in the heart of Turtle Rock. This large, two-bedroom, two-bath home features a spacious, open living plan with a shared living room/dining room, as well as an adjacent den or office space (which could be converted to a third bedroom). The living space opens to a large stone patio, enclosed by a wooden fence and an additional storage closet. The primary and secondary bedrooms are both oversized, with their own baths, and there is also an inside laundry area. The kitchen features a garden window with excellent sun exposure from two sides and a designated area for an eat-in table. The home has recently been updated with new flooring, ceiling lights, ceiling fans, window treatments, an updated fireplace, and central air conditioning. The house was just painted, along with the oversized two-car garage, which also has new epoxy flooring and ample built-in storage. The private, park-like setting, located on the greenbelt, offers a view of lush trees and is within a short distance of the community spa, pool, and other nearby amenities, including tennis and basketball courts, Turtle Rock Community Park, and Bomber Canyon hiking trails. Located for easy access and proximity to UCI, shopping centers, minutes to award-winning schools, John Wayne International Airport, and the beaches.

Nearby schools

8/10
Bonita Canyon Elementary School
Public,K-60.7mi
9/10
Turtle Rock Elementary School
Public,K-61.3mi
9/10
Rancho San Joaquin Middle School
Public,7-81.8mi
9/10
University High School
Public,9-121.6mi
Condition Rating
Fair

While the property benefits from recent updates such as new flooring, fresh paint, modern ceiling lights and fans, and central air conditioning, the kitchen and bathrooms show signs of being outdated. The kitchen features dated white tile countertops, an older white dishwasher, and cabinets that are not contemporary. Similarly, the bathroom's tiled shower and vanity countertop style appear to be from an earlier renovation, likely 15-25 years ago, rather than a recent modern update. These key areas would likely require significant aesthetic updates to meet current buyer expectations, placing the property in the 'Fair' category despite other recent improvements.
Pros & Cons

Pros

Great Schools: Elementary School: Turtle Rock Elementary School (9/10). Middle School: Rancho San Joaquin Middle School (9/10). High School: University High School (9/10).
Extensive Modern Updates: The property boasts comprehensive recent updates including new flooring, central air conditioning, fresh paint, updated fixtures, and an epoxy-floored garage, ensuring a move-in ready and contemporary living experience.
Premier Irvine Location: Situated in the highly desirable Turtle Rock area of Irvine, offering excellent proximity to top-rated Irvine Unified schools, UCI, shopping centers, John Wayne Airport, and beaches.
Exceptional Community Amenities: Residents benefit from immediate access to a private park-like greenbelt setting, community spa, pool, tennis/basketball courts, and nearby hiking trails.
Single-Level & Versatile Layout: Features a desirable single-level floor plan with no interior steps, an open living concept, oversized bedrooms with en-suite baths, and a flexible den/office space convertible to a third bedroom.
Private Outdoor & Functional Spaces: Includes a large, private stone patio for outdoor enjoyment, an inside laundry area, and an oversized two-car garage with ample built-in storage.

Cons

Condominium Ownership & HOA Fees: As a condominium, the property is subject to a significant monthly association fee of $450, which adds to the overall cost of ownership and implies shared common areas.
Original Construction Year: Built in 1979, despite extensive updates, the underlying structure's age may present long-term considerations for some buyers regarding potential future maintenance of non-renovated components.
Limited View: While offering a pleasant greenbelt setting, the property lacks panoramic or city views, which can be a significant draw and value-add in the Irvine market.

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