724 Malabar Drive, Corona Del Mar, California 92625, Corona Del Mar, 92625 - 3 bed, 3 bath

724 Malabar Drive, Corona Del Mar, California 92625 home-pic-0
ACTIVE$5,495,000
724 Malabar Drive, Corona Del Mar, California 92625
3Beds
3Baths
2,018Sqft
8,615Lot

Price Vs. Estimate

The estimated value ($4,128,070.27) is $1,366,929.73 (24%) lower than the list price ($5,495,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8615, living area = 2018.
Top Cons:
Substantial Price Premium: The listing price of $5.495M is significantly higher (24% above) the estimated property value of $4.128M, which may require strong justification to potential buyers and could impact market appeal.

Compared to the nearby listings

Price:$5.50M vs avg $5.10M (+$395,000)58%
Size:2,018 sqft vs avg 2,555 sqft24%
Price/sqft:$2.7K vs avg $2.0K81%

More Insights

Built in 1962 (63 years old).
Condition: Built in 1962, this mid-century modern home has been 'improved and appreciated by a true MCM enthusiast,' featuring 'modern touches like stainless steel appliances, central AC,' and 'beautifully preserved original features.' While the property is older, these descriptions, along with the well-maintained exterior visible in the image, suggest it is move-in ready with functional, updated major systems and desirable aesthetic elements. The lack of interior photos prevents a full assessment of kitchen and bathroom specifics beyond the mention of stainless steel appliances, but the overall tone indicates a well-cared-for home that does not require immediate renovation, aligning with the 'Good' category.
Year Built
1962
Close
-
List price
$5.5M
Original List price
$5.5M
Price/Sqft
$2,723
HOA
$75
Days on market
-
Sold On
-
MLS number
NP25076517
Home ConditionGood
Features
Excellent View: Bay, Catalina, City Lights, Ocean
ViewBay,Catalina,City Lights,Ocean

About this home

This is a truly rare opportunity! Nestled in the prestigious Irvine Terrace neighborhood, this spectacular example of mid-century modern architecture boasts sweeping ocean and harbor views from the living area and showcases the absolute best design elements of the period. Designed with Eichler-inspired essentials, this 3 bedroom, 3 bath residence has been improved and appreciated by a true MCM enthusiast. Modern touches like stainless steel appliances, central AC, tongue-in-groove beamed ceilings, and louvered windows combine form with function for the discerning buyer. Stunning living spaces include an ocean / bay view living room, a sunny family room with courtyard views, a light infused kitchen with dual access and bar seating, and even a cozy alcove for relaxation, reading or recreation. Featuring two separate outdoor spaces, the central atrium serves as a perfect showcase of California living, blending indoor and outdoor spaces seamlessly. The huge, private backyard, with its mature landscaping, offers a fantastic canvas for expansion while still leaving room for ample yard space. World-class beaches, shopping, dining, entertainment, and top-rated schools just minutes away, this home truly has it all. Additionally, it offers easy access to the community’s exceptional amenities, including tennis courts, parks, playgrounds, and basketball courts. The home showcases beautifully preserved original features that highlight its timeless appeal. Special note this site is comprised of two separate contiguous lots.

Nearby schools

9/10
Harbor View Elementary School
Public,PK-60.7mi
7/10
Abraham Lincoln Elementary School
Public,K-61.2mi
9/10
Roy O. Andersen Elementary School
Public,K-61.6mi
9/10
Newport Coast Elementary School
Public,PK-63.3mi
9/10
Corona Del Mar High School
Public,7-121.9mi
Condition Rating
Good

Built in 1962, this mid-century modern home has been 'improved and appreciated by a true MCM enthusiast,' featuring 'modern touches like stainless steel appliances, central AC,' and 'beautifully preserved original features.' While the property is older, these descriptions, along with the well-maintained exterior visible in the image, suggest it is move-in ready with functional, updated major systems and desirable aesthetic elements. The lack of interior photos prevents a full assessment of kitchen and bathroom specifics beyond the mention of stainless steel appliances, but the overall tone indicates a well-cared-for home that does not require immediate renovation, aligning with the 'Good' category.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8615, living area = 2018.
Great Schools: Elementary School: Harbor View Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Panoramic Ocean & Harbor Views: The property offers sweeping ocean and harbor views from the living area, including Bay, Catalina, and City Lights, significantly enhancing its desirability and value.
Prestigious Location & Amenities: Nestled in the highly sought-after Irvine Terrace neighborhood, providing exclusivity, easy access to community amenities like tennis courts and parks, and proximity to world-class beaches, shopping, and top-rated schools.
Unique Mid-Century Modern Architecture: A spectacular and well-preserved example of Eichler-inspired mid-century modern architecture, showcasing timeless design elements and appealing to buyers who appreciate unique character.
Significant Expansion Potential: Comprised of two separate contiguous lots with a huge, private backyard, offering an exceptional canvas for substantial expansion or the creation of additional luxury amenities.
Seamless Indoor-Outdoor Living: Features a central atrium and multiple outdoor spaces that seamlessly blend California indoor-outdoor living, ideal for entertaining and relaxation.

Cons

Substantial Price Premium: The listing price of $5.495M is significantly higher (24% above) the estimated property value of $4.128M, which may require strong justification to potential buyers and could impact market appeal.
Age-Related Considerations: Built in 1962, despite modern touches, the property's age may lead to concerns about the condition of underlying systems or require ongoing maintenance typical of older homes.
Modest Interior Square Footage: At 2018 sqft, the interior living space is relatively modest for a property in this luxury price bracket and neighborhood, potentially limiting appeal for buyers desiring more expansive indoor areas.

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