1438 W CORAL REEF Drive, Gilbert, AZ 85233, Gilbert, 85233 - 4 bed, 3 bath
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Gilbert, AZ 85233
This Premium Waterfront Townhouse is a High-Potential Investment Opportunity, listed at $588,888—positioned well below the $712,715 Fair Market Value by 17%. This valuation gap offers $123,827 in Instant Equity. Featuring a Condition Rating of 3, the home includes newer HVAC systems and a modernized kitchen. With unobstructed panoramic lakeside views, a private dock, and proximity to Downtown Gilbert, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey lifestyle sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1438 W CORAL REEF Drive Subject | $588,888* List Price | 4 | 3 | 2,289 | $286 | - |
A 1426 W Coral Reef Drive Sold | $590,000 | 2 | 3 | 2,048 | $288 | 0.0 mi |
B 1426 W CORAL REEF Drive Sold | $590,000 | 2 | 3 | 2,048 | $288 | 0.0 mi |
C 1421 W CORAL REEF Drive Pending | $550,000 List Price | 3 | 3 | 2,289 | $240 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2001 (23 years old), the property exceeds the 'Fair' category due to significant recent updates. It features two newer HVAC systems, updated kitchen cabinets with stainless steel appliances, and modern wood-look flooring. While some bathroom elements like the tile countertops appear original/dated, the home is well-maintained, functional, and move-in ready.
This property occupies one of the best lots in the community, featuring a private dock and expansive lakeside views that facilitate a luxury lifestyle of boating, fishing, and sunset viewing.
The home is offered fully furnished and features significant capital improvements, including two newer HVAC units and a modernized kitchen with updated cabinetry and stainless steel appliances.
With 2,289 square feet, soaring ceilings, a bonus loft, and multiple balconies, the interior provides a sense of volume and flexibility rarely found in standard townhouse configurations.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The lot size of 1,673 square feet is smaller than the interior living area, indicating a lack of traditional yard space for pets or gardening beyond the dock and balconies.
While the elementary school is well-rated, the assigned middle and high schools currently hold lower ratings (4/10), which may be a consideration for families prioritizing top-tier academic districts.
PREMIUM FURNISHED !! WATERFRONT W/EXPANSIVE LAKESIDE VIEWS! This Waterfront has One of the best lots; extended & private dock to enjoy breathtaking sunsets, evening boat cruises or morning kayak trips, fishing too, and steps from the community pool! Inside, dramatic soaring ceilings greet you. Kitchen w/updated cabinets, stainless-steel appliances, RO system. Convenient half bath downstairs and under-stair storage. Your oversized main suite features multiple upgrades & Balcony w/ Lake views 2 other upstairs bedrooms have balconies, PLUS loft Acts as a perfect bonus room. ,2 newerHVAC, . Abundant community amenities & events. Bike to Downtown Gilbert. COME LIVE THE SWEET LIFE
No exterior & parking available.
Grades PK-6 • 0.2 mi
Grades PK-6 • 1.3 mi
Grades 6-8 • 1.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 0.0 |
| Baths | 3.0 | 0.0 |
| Square foot | 2,289 | - |
| Lot Size | 1,673 | - |
| Price | $588.9K | $372.4K |
| Price per sq ft | $257 | $268 |
| Built year | 2001 | 0 |
| HOA | $230 | $0 |
| Days on market | 50 | 2991 |
Jun 2, 2026
$588,888
Initial Listing