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: 95
  • Year Built: 1963
  • HOA:
  • $/Sqft: $516
  • Lot: 3,572 Sqft
  • Property Type: Single Family
  • MLS#: NP16159678
  • MLS:
  • Listing Office: Berkadia Real Estate Advisors
  • Listing Broker: Steven Brombal
  • Movoto last checked CRMLS for new data 17 minutes ago
  • CRMLS last updated this listing 3 weeks ago

Home Features for 510 Iris Ave , Corona Del Mar

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Real Estate Market Statistics of 510 Iris Avenue , Corona Del Mar

Corona Del Mar, California

Total Inventory For Sale

101 Homes

+2% m/m -18% y/y

Median List Price


-2% m/m 0% y/y

Median Days On Market

64 Days

-1% m/m -9% y/y

Median House Size

2,546 Sqft

-2% m/m -5% y/y

Median Price Per Square Foot

$1,069 /Sqft

-1% m/m -1% y/y

Median Price

510 Iris Ave in 92625 is currently listed for 3,300,000. As of today, , this is 32% above the median price of $2,498,000 for the city of Corona Del Mar, CA and 32% above the median of $2,498,000 for ZIP code 92625. Right now, there are 101 properties for sale in 92625 and 101 properties listed for sale in Corona Del Mar. Those 101 properties are made up of 64 single family homes and 37 condos. The square footage of 510 Iris Ave is approximately 6,400, which is 151% above the median size of 2,546 square feet in Corona Del Mar and 151% above the median size of 2,546 Sqft in ZIP code 92625. This property's price per Sqft is $516, which is 52% below the $1,069 median in 92625 and 52% below the $1,069 Corona Del Mar median.

New Listings in Corona Del Mar

Built in 1963, this single family house at 510 Iris Ave is approximately 6,400 square feet and comes with 4 parking spots. It is listed on 07/19/2016 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 has been on the market for 95 days. The median days on the market for properties in this area is 64 with a median list price of $2,498,000 and median cost per square foot of $1,069. It's currently listed as active under the MLS #NP16159678.

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