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Key Details
Sold Price $3,150,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,900 sqft
Price per Sqft $1,086
Subdivision Corona Del Mar North Of Pch (Cnhw)
MLS Listing ID OC24117204
Sold Date 07/12/24
Bedrooms 6
Full Baths 2
Half Baths 2
HOA Y/N No
Year Built 1973
Lot Size 3,489 Sqft
Property Description
Welcome to 613 Marigold Avenue, a charming duplex built in 1973 that's nestled in the heart of Corona del Mar's vibrant Village. PRIME LOCATION: Situated on a much-sought-after, quiet, tree-lined street with excellent walkability, just a few short blocks to downtown Corona del Mar and the beach. SPACIOUS LIVING: Both units are mirror images of each other, featuring 3 spacious bedrooms and 3 bathrooms. Each unit is filled with plenty of natural light, beamed ceilings and fireplaces in the family rooms, and cathedral ceilings in all bedrooms. FRONT UNIT: Double-wide French doors in the family room seamlessly blend indoor and outdoor spaces, leading to a fenced-off private courtyard that's perfect for entertaining and breathing in the ocean breeze. BACK UNIT: Features an expansive rooftop deck over the garage, facing west to capture those beautiful sunsets and cotton-candy skies. INVESTORS: This exceptional property is competitively priced...and offers an array of possibilities; whether you're looking to redevelop into two condos, enjoy one unit while renting out the other, or simply invest in a prime coastal location. It's a perfect “hybrid property” giving the investor the option to renovate now and rent out each unit between $6K-$8K per month, depending on the extent of the remodel. Proforma setup showing 4% cap rate is available upon request. Alternatively, it may be more suitable to tear-down and rebuild sometime in the future allowing for a bigger payout to the investor…ideally if/when interest rates, labor & material costs decline. NOTE: This duplex is being offered for sale as-is and represents a rare gem in a highly desirable location. Don't miss this opportunity to own a piece of coastal luxury in Corona del Mar. Contact us today to explore the potential of this versatile property! Showings will be scheduled with qualified offers by appointment only. Please do not disturb tenants.
Location
State CA
County Orange
Area Cs - Corona Del Mar - Spyglass
Interior
Interior Features Beamed Ceilings, Ceiling Fan(s), Cathedral Ceiling(s), Granite Counters, Tile Counters, All Bedrooms Up
Heating Forced Air, Fireplace(s)
Cooling None
Fireplaces Type Electric, Family Room
Fireplace Yes
Appliance Dishwasher, Gas Cooktop, Disposal, Gas Oven, Gas Water Heater, Microwave, Water Heater
Laundry Washer Hookup, Gas Dryer Hookup, In Garage
Exterior
Parking Features Garage, On Street
Garage Spaces 2.0
Garage Description 2.0
Fence Vinyl, Wood
Pool None
Community Features Curbs, Storm Drain(s), Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition
Porch Front Porch, Rooftop
Attached Garage No
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Schools
Elementary Schools Harbor View
Middle Schools Corona Del Mar
High Schools Corona Del Mar
School District Newport Mesa Unified
Others
Senior Community No
Tax ID 45906417
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Cash,Trade
Special Listing Condition Standard, Trust
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Bought with Ramzi Ataya • Engel & Voelkers Newport Beach