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Listed by Steven Sergi • VALIA Properties
$4,795,000
Est. payment /mo
4 Beds
3 Baths
2,225 SqFt
Price Dropped by $164K
306 Marguerite Corona Del Mar, CA 92625
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,225 sqft
Price per Sqft $2,155
MLS Listing ID NP-26054437
Bedrooms 4
Full Baths 3
Year Built 1950
Lot Size 3,485 Sqft
Property Sub-Type Triplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Positioned in the coveted 300 block of the Corona del Mar Flower Streets, south of Pacific Coast Highway, 306 Marguerite Avenue presents a rare permit-ready development opportunity in one of the most desirable locations in The Village. The existing 1950 triplex is being offered with fully approved plans, allowing the next owner to break ground immediately while bypassing the lengthy approval process with the City of Newport Beach and the Coastal Commission. Designed by Teale Architects, the approved plans envision a thoughtfully designed new construction condominium development that maximizes both livability and outdoor space. The proposed front residence (Unit A) offers approximately 2,130 square feet with 3 bedrooms and 3.5 baths, complemented by a private 1-bedroom / 1-bath ADU with kitchenette of approximately 304 square feet, for a combined total of approximately 2,434 square feet. The proposed rear residence (Unit B) is designed as a spacious 1,423 square foot 2-bedroom, 2.5 bath condominium. Both homes feature generous outdoor living areas including expansive patios and rooftop decks, creating seamless indoor-outdoor living environments that embrace the coastal lifestyle. An additional advantage of this particular location is its zoning, which allows for a greater overall height limit than typically permitted within much of the Corona del Mar Village. This allowance provides the opportunity for enhanced ceiling heights throughout the residence, including notably higher ceilings on the third level, a feature that is uncommon among many Flower Street properties and contributes to a more open, light-filled living environment. Located in the heart of the Corona del Mar Village, the Flower Streets are widely regarded as one of the most desirable neighborhoods in Newport Beach. Residents enjoy exceptional walkability to local boutiques, cafés, and restaurants along Pacific Coast Highway, while the scenic paths of Ocean Boulevard and multiple beaches are just moments away. With approved architectural plans in place and an irreplaceable Village location, 306 Marguerite Avenue offers a unique opportunity to begin construction immediately and deliver a premier coastal development in one of Orange County's most sought-after communities.
Location
State CA
County Orange
Area Cs - Corona Del Mar - Spyglass
Interior
Cooling None
Fireplaces Type None
Laundry Community, Individual Room
Exterior
Garage Spaces 2.0
Pool None
Community Features Curbs, Sidewalks
View Y/N No
View None
Building
Lot Description Level with Street, Rectangular Lot
Sewer Public Sewer
NEARBY SCHOOL & BUSINESS
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