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514 Iris Avenue, Corona Del Mar, California 92625, Corona Del Mar, 92625 - bed, bath

514 Iris Avenue, Corona Del Mar, California 92625 home-pic-0
ACTIVE$2,800,000
514 Iris Avenue, Corona Del Mar, California 92625
0Bed
0Bath
2,800Sqft
3,485Lot
Year Built
1962
Close
-
List price
$2.8M
Original List price
$2.8M
Price/Sqft
$1,000
HOA
-
Days on market
-
Sold On
-
MLS number
NP25105874
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,6 Pros. Rank: price - $2.80M(25th), sqft - 2800(83th), beds - undefined(42th), baths - undefined(42th).

Coastal Living at Its Finest – Exceptional Beach-Adjacent Duplex in Corona del Mar Welcome to this rare and remarkable opportunity in the heart of Corona del Mar Village, just steps from the sparkling sands and stunning shoreline of Southern California’s most coveted beaches. This charming duplex offers the perfect blend of investment potential and relaxed coastal lifestyle in one of Orange County’s premier seaside communities. 516 Iris Ave. also available for sale and is a near duplicate property. This two-unit property features a main floor and upstairs residence, each with private entrances, spacious living areas, and generous outdoor spaces ideal for entertaining or soaking up the ocean breeze. The upstairs unit features 3 bedrooms and 2 baths, highlighted by an inviting rear patio perfect for morning coffee or sunset gatherings. The downstairs unit, offering 3 bedrooms and 2 baths, includes a deck in the front and rear of the property. Additional amenities include an attached garage, in-unit laundry, and ample storage. Whether you're seeking a primary residence with income potential, a vacation home, or a long-term investment, this duplex delivers flexibility and exceptional value in an unbeatable location. Live the ultimate beachside lifestyle – stroll to renowned restaurants, upscale boutiques, scenic parks, and the iconic Corona del Mar State Beach. Properties like this don’t come along often. Don’t miss your chance to own a slice of paradise.

Nearby schools

9/10
Harbor View Elementary School
Public,•PK-6•0.3mi
7/10
Abraham Lincoln Elementary School
Public,•K-6•1.0mi
9/10
Roy O. Andersen Elementary School
Public,•K-6•1.7mi
9/10
Newport Coast Elementary School
Public,•PK-6•2.8mi
9/10
Corona Del Mar High School
Public,•7-12•2.5mi

Price History

Date
Event
Price
05/13/25
Listing
$2,800,000
Condition Rating
Fair
Built in 1962, this duplex shows signs of age despite appearing well-maintained. The kitchens feature outdated white tile countertops in one unit and older granite in the other, paired with older white cabinets and mixed appliances. Bathrooms also present with dated white tile countertops and vanities. While some areas have updated laminate flooring, the overall aesthetic and functionality of the key areas (kitchens and bathrooms) are significantly behind current standards, requiring substantial cosmetic renovations to appeal to modern buyers. The property is functional and livable, but not move-in ready without significant updates to its finishes and systems.
Pros & Cons

Pros

Great Schools: Elementary School: Harbor View Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Unbeatable Coastal Location: Situated in the heart of Corona del Mar Village, just steps from the sparkling sands, stunning shoreline, renowned restaurants, and upscale boutiques, offering an unparalleled beachside lifestyle.
Income-Generating Duplex: A rare two-unit property (duplex) providing significant income potential, ideal for investors or owner-occupants seeking rental revenue from two separate 3-bedroom, 2-bath residences.
Versatile Investment Opportunity: Offers exceptional flexibility as a primary residence with income, a lucrative vacation home, or a long-term investment in one of Orange County’s most coveted and high-demand seaside communities.
Practical Amenities & Outdoor Spaces: Each unit features private entrances, generous outdoor spaces (patios/decks), in-unit laundry, ample storage, and an attached garage, enhancing livability and tenant appeal.
Opportunity for Portfolio Expansion: The adjacent, near-duplicate property at 516 Iris Ave. is also available for sale, presenting a unique and rare opportunity to acquire a larger combined footprint or expand an investment portfolio.

Cons

Age of Property: Built in 1962, the property may require significant updates to its infrastructure, systems, or interior finishes to align with contemporary standards and buyer preferences, potentially leading to considerable renovation costs.
Lack of Views: Despite its prime coastal proximity, the property explicitly states 'None' for views, which could be a significant detractor for buyers expecting ocean or scenic vistas in a Corona del Mar location.
Modest Lot Size: With a lot size of 3,485 sqft, the property offers limited communal or expansive private yard space beyond the unit-specific patios/decks, which might not appeal to all buyer profiles seeking larger outdoor areas.

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