Property Detail

416 Larkspur

Corona del Mar CA 92625

$1,895,000

Status: Active

Property Details

Description

Lowest priced full lot in the Village by over $200k. This attractive duplex was constructed in 1996 and exhibits a strong rental history. A buyer could grow in-place rents or substantially increase proforma rents through a conservative remodel. The front unit is a 2 bedroom plus loft with 2.5 baths totaling 2,310 square feet. The back unit is a 1 bedroom 1 bath layout totaling 691 square feet. Given the current configuration of the building, one could endeavor to condo the property as well, offering multiple unit sales or owner and tenant occupancy. A complete redevelopment of the property provides a unique opportunity for maximizing square footage on the R2 lot, given the reduced front yard setback North of PCH. Typical lots in the area have 20-foot setbacks, whereas 416 Larkspur benefits from a 10-foot front yard setback, thereby maximizing the buildable square footage. Experience the finest in Corona del Mar living close to area dining such as Zinc, Bandera, and the Quiet Woman. Pristine beaches, Fashion Island, and Newport Center are just moments away.

Map Location

Listing provided courtesy of Mary Golding of Coldwell Banker Realty. Last updated 2021-02-23 09:10:31.000000. Listing information © 2021 CRMLS.

Steele Realty Group

Steele Realty Group

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