705 Orchid AVE Corona Del Mar, CA 92625

Active

$3,295,000

Units

5 Beds

5 Baths

2,967 Area(sq.ft.)

3,385 Lot Size(sq.ft.)

Type	# of Units	Bedroom	Bath	Furnished	Rent	Actual Rent	Projected Rent
0	0				$ 0	$ 0	$ 0

MLS #:	OC24196512MR
Days On Market:	60
County:	Orange County
Property Type:	Residential Income
Price per ft²:	$ 1,111
Year Built:	1969

Income Details / Structure / Land & Parking / Interior Features / Exterior Features

Property Details

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.