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5042 Scholarship, Irvine, California 92612, Irvine, 92612 - 1 bed, 2 bath

5042 Scholarship, Irvine, California 92612 home-pic-0
ACTIVE$935,000$1,349/sqft
5042 Scholarship, Irvine, California 92612
1Bed
2Baths
1,349Sqft
49,632Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location & Accessibility: Situated in Irvine’s premier Financial District, minutes from Fashion Island, Newport Beach, UCI, John Wayne Airport, and Orange County beaches, offering unparalleled convenience and a desirable lifestyle.
Top Cons:
High Association Fees: The monthly association fee of $1,413 is substantial and significantly adds to the overall cost of ownership, which may deter some potential buyers.

Compared to the nearby listings

Price:$935.0K vs avg $975.0K ($-40,000)45%
Size:1,349 sqft vs avg 1,444 sqft47%
Price/sqft:$693 vs avg $74627%

More Insights

Built in 2007 (19 years old).
Condition: Built in 2007, this condominium falls within the '10 to 20 years' age range for a 'Good' rating. The property is move-in ready and exceptionally well-maintained, with no immediate renovation needs. The kitchen features stainless steel appliances, Italian wood cabinetry, and granite countertops, all in excellent condition, though the style reflects its 2007 build rather than a very recent renovation. Bathrooms are similarly well-kept with quality finishes. All systems appear functional with minimal wear and tear, aligning perfectly with the criteria for a 'Good' condition score.
Year Built
2007
Close
-
List price
$935K
Original List price
$935K
Price/Sqft
$693
HOA
$1,413
Days on market
-
Sold On
-
MLS number
PW25256792
Home ConditionGood
Features
ViewNeighborhood, Trees/Woods

About this home

Experience elevated living in this spacious 1,349 sq. ft. corner-unit condominium located in the heart of Irvine’s premier Financial District. Designed with an open-concept layout, the home features a beautifully appointed kitchen with stainless steel appliances, Italian wood cabinetry, and a large center island, perfect for both everyday living and entertaining. The expansive living room is warm and inviting, highlighted by a cozy fireplace and an additional half bath, ideal for guests. The residence offers a generous primary bedroom complete with an en-suite bathroom and walk-in closet, providing a private and comfortable retreat. A versatile den functions seamlessly as a home office or guest bedroom and is equipped to accommodate a fold-out Murphy bed, adding flexibility to the floor plan. One of the standout features of this property is the 24-hour concierge service, offering convenience and peace of mind with assistance for package deliveries, guest access, and everyday needs. Residents enjoy access to the luxury amenities at Plaza, including two resort-style swimming pools and spa, a state-of-the-art fitness center, billiards room, club room, catering kitchen, conference room, and on-site retail, restaurants, and services. Ideally located just minutes from Fashion Island, Newport Beach, UCI, John Wayne Airport, and the stunning beaches of Orange County, this exceptional condominium offers the perfect blend of luxury, convenience, and an elevated lifestyle.

K
Kurt Galitski
Listing Agent

Nearby schools

4/10
Monroe Elementary School
Public,•K-5•3.3mi
3/10
Mcfadden Intermediate School
Public,•6-8•4.0mi
3/10
Century High School
Public,•9-12•4.4mi

Price History

Date
Event
Price
08/06/20
Sold
$635,000
05/11/07
Sold
$590,500
Condition Rating
Good
Built in 2007, this condominium falls within the '10 to 20 years' age range for a 'Good' rating. The property is move-in ready and exceptionally well-maintained, with no immediate renovation needs. The kitchen features stainless steel appliances, Italian wood cabinetry, and granite countertops, all in excellent condition, though the style reflects its 2007 build rather than a very recent renovation. Bathrooms are similarly well-kept with quality finishes. All systems appear functional with minimal wear and tear, aligning perfectly with the criteria for a 'Good' condition score.
Pros & Cons

Pros

Prime Location & Accessibility: Situated in Irvine’s premier Financial District, minutes from Fashion Island, Newport Beach, UCI, John Wayne Airport, and Orange County beaches, offering unparalleled convenience and a desirable lifestyle.
Extensive Luxury Amenities: Residents benefit from 24-hour concierge service and access to resort-style pools, spa, state-of-the-art fitness center, billiards room, club room, catering kitchen, conference room, and on-site retail/restaurants.
Modern & High-End Interior Finishes: The condominium features an open-concept layout, a beautifully appointed kitchen with stainless steel appliances, Italian wood cabinetry, a large center island, and a primary suite with an en-suite bathroom and walk-in closet.
Versatile Corner Unit Floor Plan: A spacious 1,349 sq. ft. corner unit with a versatile den that can function as a home office or guest bedroom (equipped for a Murphy bed), providing flexibility and enhanced natural light/privacy.
Contemporary Construction: Built in 2007, this relatively new construction offers modern design standards and infrastructure, reducing immediate concerns for major renovations or updates.

Cons

High Association Fees: The monthly association fee of $1,413 is substantial and significantly adds to the overall cost of ownership, which may deter some potential buyers.
Limited Bedroom Count: As a 1-bedroom plus den unit, the property's appeal may be limited to single individuals, couples, or those not requiring multiple dedicated bedrooms, potentially narrowing the buyer pool.
Non-Premium Views: While offering pleasant 'Neighborhood, Trees/Woods' views, the property lacks the more sought-after panoramic ocean, city lights, or dramatic landscape views often associated with luxury condominiums in this price range.
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