705 Narcissus Avenue,Corona del Mar,Orange

Description

Welcome to the stunning seaside community of Corona Del Mar, where the perfect blend of coastal charm and luxurious living makes this coastal paradise extremely attractive to discerning homebuyers, capable developers, and savvy investors!

Nestled amidst palm-fringed streets and just a short walk into town or to the beach, this exceptional duplex offers two spacious 2 bedroom 1 bathroom units, with a beautiful central courtyard separating the front and rear units, community laundry, and a two car garage. Both units have leases through Summer of 2024 (front and rear). The property is being sold as-is.

This duplex is being offered for sale individually, or with the truly unique opportunity to purchase the neighboring duplex at 707 Narcissus at the same time! Our firm has both properties listed for sale so please call to discuss this option.

From a re-development perspective, the subject property is an ideal candidate for redevelopment individually or simultaneously with neighboring 707 Narcissus. The city of Newport Beach launched an incentive program for the preservation of beach cottages on January 25, 2022, which allows owners to build substantial additions (up to 50 percent of the existing floor area or a maximum of 750 square feet) without providing the minimum code-required parking. Only the structure affected by the renovation/addition will have to comply with current building code standards. Refer to city website for more details.

Showings will only be scheduled with qualified offers, and will be made by appointment only, do not disturb tenants.