306 Marguerite Ave, Corona Del Mar, CA 92625 (MLS # NP26054437)

Price $4,959,000
Status Active
Beds 4
Baths 3 Baths
Home size 2,225 sqft
Lot Size 3,485 sqft
Days on Market 1
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.
Property Type(s): Single Family
Last Updated 3/12/2026 Tract Corona del Mar South of PCH (CDMS)
Year Built 1950 Community CS - Corona Del Mar - Spyglass
Garage Spaces 2.0 County Orange

Additional Details

AIR None
AREA CS - Corona Del Mar - Spyglass
GARAGE Attached Garage, Yes
LOT 3485 sq ft
LOT DESCRIPTION Rectangular Lot
LOT DIMENSIONS 3485
PARKING Attached
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 2
SUBDIVISION Corona del Mar South of PCH (CDMS)
VIEW DESCRIPTION None
WATER Public

Location

Listed with VALIA Properties

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