Corona Del Mar - Beach Property For Sale #7395096

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 property is currently improved with a 1950 triplex and 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 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 three bedrooms, complemented by a private one-bedroom ADU 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 two-bedroom 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. 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, cafes, and restaurants along Pacific Coast Highway and nearby 17th Street, 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.