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

516 Iris Avenue, Corona Del Mar, California 92625 home-pic-0
ACTIVE$2,800,000
516 Iris Avenue, Corona Del Mar, California 92625
0Bed
0Bath
2,800Sqft
3,528Lot
Year Built
1963
Close
-
List price
$2.8M
Original List price
$2.8M
Price/Sqft
$1,000
HOA
-
Days on market
-
Sold On
-
MLS number
NP25105885
Home ConditionFair
Features
Deck
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. 514 Iris Ave. also available for sale and is a near duplicate property. Situated on an oversized lot, 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 1963, this duplex shows signs of regular upkeep and some cosmetic updates, such as the wood-look laminate flooring and painted vaulted ceilings with skylights. However, the visible bathroom features, including the tiled countertop vanity, basic fixtures, and older shower enclosure, are significantly outdated. The presence of a wall-mounted heater in the bathroom also suggests older systems. While the property is functional and appears maintained, it has not undergone a recent extensive renovation and requires substantial modernization to meet contemporary standards, particularly in the kitchen (which is not pictured but likely similar in age/style to the bathroom) and bathrooms.
Pros & Cons

Pros

Great Schools: Elementary School: Harbor View Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Prime Coastal Location: Situated in the highly coveted Corona del Mar Village, just steps from the sparkling sands and stunning shoreline, offering an unparalleled beachside lifestyle.
Income-Generating Duplex: A rare two-unit property providing significant investment potential, ideal for owner-occupancy with rental income, a vacation home, or a long-term investment.
Generous Lot & Outdoor Living: Positioned on an oversized lot with private entrances and ample outdoor spaces (patios/decks) for each unit, enhancing livability and entertainment options.
Exceptional Walkability: Enjoy immediate access to renowned restaurants, upscale boutiques, scenic parks, and Corona del Mar State Beach, fostering a vibrant coastal lifestyle.
Practical Amenities: Includes essential features such as an attached garage, in-unit laundry, and ample storage, adding convenience and value for residents.

Cons

Vintage Construction (1963): Built in 1963, the property may require significant modernization and updates to meet contemporary aesthetic and functional standards, potentially incurring substantial renovation costs.
Lack of Views: Despite its beach-adjacent location, the property explicitly states 'None' for views, which could be a notable drawback for buyers seeking ocean or panoramic vistas in a premium coastal market.
Potential for Deferred Maintenance: As an older duplex, there's an inherent risk of deferred maintenance or outdated systems (plumbing, electrical, HVAC) that may not be immediately apparent, requiring thorough inspection and potential future investment.

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