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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$4,795,000

Est. payment - /mo

4 Beds

3 Baths

2,225 SqFt

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UPDATED:

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

Subdivision Corona Del Mar South Of Pch (Cdms)

MLS Listing ID NP26054437

Bedrooms 4

Full Baths 3

HOA Y/N No

Year Built 1950

Lot Size 3,484 Sqft

Property Sub-Type Triplex

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

Rooms

Main Level Bedrooms 4

Interior

Cooling None

Fireplaces Type None

Fireplace No

Laundry Common Area, Laundry Room

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Curbs, Sidewalks

View Y/N No

View None

Total Parking Spaces 2

Private Pool No

Building

Lot Description Rectangular Lot, Street Level

Dwelling Type Triplex

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Schools

School District Newport Mesa Unified

Others

Senior Community No

Tax ID 05210317

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Steven Sergi VALIA Properties 949-292-6545, DRE #01417942

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306 Marguerite Corona Del Mar, CA 92625