705 Orchid Avenue, Corona Del Mar, CA 92625

$3,295,000 Asking Price

5 beds
5 baths
2,967  sqft
Built in 1969

Welcome to the gorgeous seaside community of Corona Del Mar! World class shopping, entertainment & dining, coupled with beautiful weather all year makes this coastal paradise extremely attractive to discerning homebuyers, capable developers, and savvy investors! Just a few short blocks to downtown CDM & to the beach, this beautiful duplex offers two spacious units: A 3 bedroom 3 bathroom in the picture-perfect front cottage, and 2 bedrooms & 2 bathrooms in the rear unit. The property has a two car garage, a lovely central courtyard separating the front and rear units, and community laundry in the garage (separate hookups for each unit). The property is being sold as-is. From a re-development perspective, the subject property is an ideal candidate for redevelopment. The city of Newport Beach launched an incentive program for the preservation of beach cottages on January 25, 2022, which allows owners to build substantial additions (up to 50 percent of the existing floor area or a maximum of 750 square feet) without providing the minimum code-required parking. Only the structure affected by the renovation/addition will have to comply with current building code standards. Refer to city website for more details.

Features & Amenities

Interior

Laundry:
Garage
A/C:
N/K
Fireplace:
FP in Family Room

Exterior

Pool:
None
Parking:
Parking spaces: 2

Construction

General:
2 Story

Location

HOA Amenities:
0.0
Originating MLS:
California Regional MLS
County:
Orange

Lot

Zoning:
45907213
View:
N/K

Utilities

Water:
Public
Sewer:
Public Sewer

Financial

Source:
California Regional MLS

This listing courtesy of:
Anchor West Properties, Inc., James Vanar

About Corona del Mar, CA

Housing

Number of Units
6,389
Median Home Value
$1,208,848
Median Rent
$2,070

35.33% of housing units are renter occupied.

12.81% are vacant.

Commute

Car
46.70%
Public Transportation
0.00%
Walk to Work
0.70%
Work from Home
52.46%
Other
0.02%

The median travel time to work is 11 minutes.

People

Population
11,606
Median Age
54.50
Median Household Size
2.35

Education

High School
6.68%
Associate’s Degree
6.04%
Bachelor’s Degree
40.15%
Graduate Degree
31.66%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

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