1427 Abelia, Irvine, California 92606, Irvine, 92606 - 2 bed, 2 bath
ACTIVE$600,000
1427 Abelia, Irvine, California 92606
2Beds
2Baths
1,261Sqft
1,261Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Affordable Housing Opportunity: Offers a unique opportunity for eligible first-time buyers to enter the highly competitive Irvine market at a restricted price point.
Top Cons:
Restrictive Buyer Eligibility: The property is subject to strict income and first-time buyer limitations imposed by the City of Irvine, significantly narrowing the potential buyer pool.
Compared to the nearby listings
Price:$600.0K vs avg $940.0K ($-340,000)7%
Size:1,261 sqft vs avg 1,261 sqft50%
Price/sqft:$476 vs avg $7507%
More Insights
Built in 2006 (19 years old).
Condition: The property, built in 2006, is 18 years old, fitting within the 'Good' category's age range. Visible areas, such as the living room and hallway, feature modern LVP flooring and recessed lighting, indicating recent updates and a move-in ready condition. The laundry area includes modern appliances. While images of the kitchen and bathrooms are not provided, the overall impression from the available photos suggests a well-kept home with functional systems and minimal wear and tear, consistent with a property of its age that has received some updates.
Year Built
2006
Close
-
List price
$600K
Original List price
$600K
Price/Sqft
$476
HOA
$185
Days on market
-
Sold On
-
MLS number
OC24174220
Home ConditionGood
Features
Deck
ViewNeighborhood
About this home
Affordable Housing/First Time Buyer program. Income and purchase price limitation restricted by the City of Irvine affordable housing/first time Buyer program. Buyer must be approved by the City of Irvine as a first time Buyer to purchase this property. https://www.cityofirvine.org/affordable-housing/affordable-home-ownership
Condition Rating
Good
The property, built in 2006, is 18 years old, fitting within the 'Good' category's age range. Visible areas, such as the living room and hallway, feature modern LVP flooring and recessed lighting, indicating recent updates and a move-in ready condition. The laundry area includes modern appliances. While images of the kitchen and bathrooms are not provided, the overall impression from the available photos suggests a well-kept home with functional systems and minimal wear and tear, consistent with a property of its age that has received some updates.
Pros & Cons
Pros
Affordable Housing Opportunity: Offers a unique opportunity for eligible first-time buyers to enter the highly competitive Irvine market at a restricted price point.
Desirable Irvine Location: Situated in Irvine, a city renowned for its top-rated schools, safety, and high quality of life, enhancing long-term value.
Modern Construction: Built in 2006, the property benefits from relatively modern construction standards, potentially reducing immediate maintenance concerns.
Low Association Fee: The association fee of $185.00 is notably low for a condominium in Irvine, contributing to more affordable monthly housing costs.
Top-Rated School District: Located within the highly acclaimed Irvine Unified School District, a significant draw for families and a factor in property value.
Cons
Restrictive Buyer Eligibility: The property is subject to strict income and first-time buyer limitations imposed by the City of Irvine, significantly narrowing the potential buyer pool.
Complex Approval Process: Buyers must undergo a mandatory approval process by the City of Irvine, which can add time and complexity to the transaction.
Limited Resale Market: Future resale will be subject to the same affordable housing restrictions, potentially impacting market liquidity and long-term appreciation for non-eligible buyers.