602 602.5 Marguerite 2, Corona Del Mar, California 92625, Corona Del Mar, 92625 - 6 bed, 6 bath
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602 602.5 Marguerite 2
Corona Del Mar, California 92625
ACTIVE
CONDITION: GOOD
6Beds
6Baths
3,032Sq Ft
3,772Lot Size
Property Price
LIST PRICE$4,995,000
EST. MARKET VALUE
$4,694,648
6% AboveMARKET VALUE
SUMMARY
This Turnkey Duplex represents a Strong Value Opportunity, listed at $4,995,000—positioned well above the $4,694,648 Fair Market Value by 6%. While priced at a premium, the property offers Turnkey Income Potential with a long-term lease through 2027 and short-term rental flexibility. Featuring Modern Upgrades, Private Patios, and a Condition Rating of 3, it sits in the Newport Mesa Unified district near top-rated schools. This asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-end coastal lifestyle.
Estimated Market Value
$4,694,648
Based on Realkey algorithm analyzing recent comparable sales in Corona Del Mar.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 602 602.5 Marguerite 2 Subject | $4,995,000* List Price | 6 | 6 | 3,032 | $1,548 | - |
A 603 Begonia Sold | $3,950,000 | 6 | 4 | 2,784 | $1,419 | 0.5 mi |
B 429 Carnation Avenue Sold | $3,675,000 | 5 | 5 | 2,645 | $1,389 | 0.5 mi |
C 603 Begonia Sold | $3,950,000 | 0 | 0 | 2,784 | $1,419 | 0.5 mi |
D 430 Goldenrod Sold | $3,775,000 | 5 | 3 | 2,225 | $1,697 | 0.3 mi |
E 429 Carnation Avenue Sold | $3,675,000 | 0 | 0 | 2,645 | $1,389 | 0.5 mi |
F 707 Larkspur Avenue Active | $5,350,000 List Price | 5 | 6 | 3,108 | $1,721 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1969, the property has undergone a recent major exterior facelift and interior refreshments. It features newer luxury vinyl flooring, stone countertops, stainless steel appliances, and updated outdoor living spaces. The condition is well-maintained and move-in ready, fitting the 5-15 year renovation profile.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Harbor View Elementary School (9/10). High School: Corona Del Mar High School (9/10).
- Prime Village Location
Situated in the heart of Corona Del Mar Village, this property offers exceptional walkability to world-class beaches, Fashion Island shopping, and top-tier dining, ensuring high desirability and long-term value.
- Turnkey Income Potential
The duplex configuration provides immediate cash flow with a back unit leased at $6,400/month through 2027 and a front unit fully furnished and optimized for high-premium short-term rentals.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =3772, other record lot size in square feet = 3539. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 3.
- Long-term Lease Encumbrance
The back unit is committed to a lease until May 2027, which may limit flexibility for owner-occupants or investors looking to immediately reposition the property at current market rates.
- Vintage Infrastructure
Originally constructed in 1969, the property may require more intensive long-term maintenance of core systems compared to newer builds in the area, despite recent cosmetic and surface-level improvements.
About 602 602.5 Marguerite 2
CHECK OUT THIS DUPLEX AT THIS GREAT PRICE!!! Located in the heart of Corona Del Mar Village, just north of Pacific Coast Highway, this fabulous duplex is a great opportunity to own income property in CDM. Both front & back units are approx 1516 sq. ft. each, with 3 bedrooms and 2.5 baths, open floor plans, newer luxury vinyl flooring throughout, stone counters in the kitchens, gas cooktops w/ovens below, stainless steel dishwashers & refrigerators, 2 sets of laundry facilities in the garage, that has new epoxy flooring. There are spacious walk-in closets in the primary suites, lots of storage cabinets for linens, and mirrored closet doors in the all secondary bedrooms. The front home is fully furnished for short term rentals at premium prices. The back home is on a long-term lease that continues through May 2027 at $6400.00 per month. The exterior of the property just underwent a major facelift with a whole new expanded front patio with sliding glass doors, leading out from the front home. There's a new firepit, BBQ, seating area for additional outdoor entertaining space, new drought tolerant landscaping and front yard fencing that adds charm to the property. Each home has its own mailbox and separate entries. The back home has newer sliding glass doors leading out to a newly extended private patio for their space too. This duplex is just minutes from Corona del Mar's world famous beaches, a local park, the areas top restaurants, boutiques, shopping at Fashion Island, Laguna Beach & John Wayne Airport. Schools are top notch in the Newport Mesa school district and one is just a few blocks away. The Oasis Senior Center is just 2 blocks from the property, offering a gym, various classes & all kinds of other social events for the senior community of 55 yrs & older.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1969
- Lot Size
- 3,772 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 6 (6 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Corona Del Mar Unified Schools
Harbor View Elementary School
Grades PK-6 • 0.4 mi
9/10
Abraham Lincoln Elementary School
Grades K-6 • 1.0 mi
7/10
Roy O. Andersen Elementary School
Grades K-6 • 1.7 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 4.0 |
| Baths | 6.0 | 2.5 |
| Square foot | 3,032 | 2,064 |
| Lot Size | 3,772 | 3,511 |
| Price | $5.00M | $3.71M |
| Price per sq ft | $1.6K | $2.1K |
| Built year | 1969 | 1959 |
| HOA | $0 | $0 |
| Days on market | 11 | 68 |
Pricing History
Listed for Sale
Aug 29, 2026
$4,995,000
Initial Listing