
Corona Del Mar, California 92625
This Shovel-Ready Development Asset is listed at $6,400,000, reflecting a premium over the $5,767,816 Fair Market Value due to its rare 35-foot-wide lot and fully approved ROST Architects plans. Currently maintaining a Good Condition Rating, the existing mid-century bungalow offers immediate utility while preparing for a 3,800 square foot luxury build. The site is specifically engineered to capture Sweeping Ocean and Harbor Views and is served by Top-Rated Schools including Roy O. Andersen Elementary and Corona Del Mar High. This is a strategic acquisition for Luxury Developers or Owner-Builders seeking an expedited coastal project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 221 Larkspur Avenue Subject | $6,400,000* List Price | 4 | 3 | 2,486 | $2,320 | - |
A 216 Poppy Avenue Sold | $5,600,000 | 3 | 2 | 2,058 | $2,721 | 0.4 mi |
B 3 Jasmine Creek Dr Sold | $4,750,000 | 3 | 3 | 2,428 | $1,956 | 0.7 mi |
C 429 Dahlia Ave Sold | $6,560,000 | 4 | 7 | 3,159 | $2,077 | 0.4 mi |
D 222 Orchid Avenue Active | $7,995,000 List Price | 4 | 5 | 3,415 | $2,341 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1956, the property has undergone extensive recent interior renovations making it move-in ready. The kitchen and bathrooms feature modern aesthetics, including white shaker cabinetry, stainless steel appliances, and contemporary gold fixtures. The home also boasts updated wide-plank flooring, recessed lighting, and a clean, mid-century modern appeal. While the listing emphasizes the land's value for redevelopment with approved plans, the existing structure is well-maintained and functional.
Elementary School: Roy O. Andersen Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Situated on a rare 35-foot-wide parcel in the highly coveted 200 block south of PCH, providing significantly more space and frontage than the standard neighborhood lot.
The property includes fully approved contemporary plans by ROST Architects for a 3,800 sqft luxury residence, offering an expedited path to redevelopment and saving years of permitting time.
Built in 1956, the current mid-century bungalow may require immediate maintenance or updates if the buyer chooses to delay the redevelopment process.
Given the $6.4M list price for what is essentially a development opportunity, a buyer will need substantial additional liquidity to fund the construction of the approved 3,800 sqft residence.
Located on a rare 35-foot-wide parcel in the highly coveted 200 block of Larkspur, this exceptional offering presents a unique opportunity to enjoy 221 Larkspur today while thoughtfully planning for the future. The existing residence is a charming mid-century modern bungalow, predominantly single-level in design, featuring 4 bedrooms and 3 bathrooms. The main level offers three bedrooms and two full baths, while a private fourth bedroom with its own en-suite is positioned above the garage—ideal for guests, a home office, or added privacy. For those looking to build, a fully approved contemporary design by ROST Architects provides a seamless and expedited path to redevelopment. The plans showcase a striking new residence spanning approximately 3,800 square feet, offering up to 5 bedrooms plus a flexible bonus space, 4.5 bathrooms, and an elevator servicing all three levels. Two thoughtfully designed rooftop decks capture sweeping ocean and harbor views, elevating both the architecture and the overall living experience. Whether enjoying the home in its current form or bringing this architecturally significant vision to life, 221 Larkspur represents a rare and compelling opportunity in one of Corona del Mar’s most sought-after neighborhoods.
No exterior & parking available.
Grades PK-6 • 0.6 mi
Grades K-6 • 1.3 mi
Grades K-6 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 51% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,486 | 2,765 | 38% |
| Lot Size | 4,130 | 7,139 | 15% |
| Price | $6.40M | $5.71M | 55% |
| Price per sq ft | $2.6K | $2.0K | 77% |
| Built year | 1956 | 1974 | 13% |
| HOA | $0 | $576 | 28% |
| Days on market | 28 | 197 | 4% |
Mar 25, 2026
$6,400,000
Initial Listing
Nov 4, 2022
$5,100,000
Public Record