707 Narcissus Avenue

Description

Welcome to the fabulous seaside community of Corona Del Mar, where the allure of luxurious beach living coupled with world class shopping & dining, makes this coastal paradise extremely attractive to discerning homebuyers, capable developers, and savvy investors! Just a few short blocks to downtown CDM & to the beach, this beautiful duplex offers two spacious units: 2 bedroom 1 bathroom in the picture-perfect front cottage, and 3 bedrooms & 3 bathrooms in the rear unit. The property has a lovely central courtyard separating the front and rear units, community laundry, and a two car garage. Front unit has a lease through Summer of 2024 and rear is month-to-month. 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 705 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 705 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.

Listing information courtesy of: James Vanar, Anchor West Properties, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 11/14/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.