510 Iris Ave
Corona Del Mar, CA 92625

Bd   — Ba   6,400 Sqft
BEST VALUE IN CDM - PRICE REDUCTION - Now $1,650,000/ Duplex!! The Iris Flats (510 & 512 Iris Avenue CDM) is an extremely rare investment opportunity in the heart of the desirable coastal community of Corona Del Mar. This opportunity represents a solid investment option for any investor seeking a coastal investment with a huge rental upside of 40%+. Rent on these (4) 3bed/2ba ~1600 sq ft units average only $2,713/mo. Each parcel is zoned R-2. The lot sizes are 3,560 and 3,790 respectively. Must see! 4.14% proforma Cap. Now $515/sq ft Comparables $825/Sq ft. This offering consists of (2) adjacent side by side identical duplexes constructed in 1963. Each building features two comfortable and expansive three bedroom units. The upstairs units in each duplex have wood exposed vaulted-beamed ceilings throughout, skylights, abundant storage. Each unit has private deck leading to a double garage which is shared. The master Bedroom is very large featuring a sitting area and in-suite bathroom. Each of the four units has a separate interior laundry room, is separately metered and has individual water heaters. Operating expenses for any new owner could be minimal with renovations.The Seller prefers to sell them together, however would consider selling separately and closing concurrently. Submit!!
  • Zipcode: 92625
  • Days on Movoto: 217
  • Year Built: 1963
  • HOA:
  • $/Sqft: $516
  • Lot: 3,572 Sqft
  • Property Type: Multi Family
  • MLS#: NP16159678
  • MLS:
  • Listing Office: Berkadia Real Estate Advisors
  • Listed By: Steven Brombal
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Property History for 510 Iris Ave, Corona Del Mar

Status
Date
Price
Price Change
Sep 28, 2016
$3,300,000
Listed
Aug 19, 2016
$3,450,000
Active Under Contract
Aug 3, 2016
Listed
Jul 19, 2016
$3,738,000
#NP16159678

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Built in 1963, this multi family house at 510 Iris Ave, Corona Del Mar CA, 92625 is approximately 6,400 square feet and comes with 4 parking spots. It was last listed for $3,300,000 with a cost per Sqft of $516. 510 Iris Ave is located in the Newport-Mesa Unified School District. The closest school is Harbor View Elementary School.

510 Iris Ave, Corona Del Mar CA, 92625 was on the market for 217 days. The median days on the market for properties in this area is 76 with a median list price of $2,599,900 and median cost per square foot of $1,097. Its current status is removed under the MLS #NP16159678.

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