Inside a $23M European-Type Property in SoCal’s Corona del Mar – Robb Report

Corona del Mar, a brief drive south of Los Angeles, is commonly overshadowed by the higher-profile hamlet of Newport Seashore. However with its prime Pacific-front setting, Corona de Mar (which is technically a part of the Newport Seashore space) is one in all Southern California’s most enviable resort-like communities. 

Based within the Twenties and initially accessible solely by boat, Corona del Mar grew to become well-liked following the development of the Pacific Coast Highway, which linked it to the remainder of the Los Angeles space.  Right this moment, the city’s waterfront estates lure quietly rich celebs and company kingpins, a lot of whom swoon over the realm’s world-class browsing. The city is tiny, with lower than 15,000 residents, and when properties come to market, eagle-eyed consumers pounce (and pounce shortly).

One of many latest (and most covetable) properties available on the market proper now’s set at 4601 Camden Drive —a Provencal-inspired property set on a chief half-acre lot with ample water views. Unfold over almost 7,000-square-feet with four-bedrooms and five-bathrooms, the house gives a dose of European-style residing alongside a chief slice of what many name “the California Riviera.” Priced at $22,998,000, 4601 Camden Drive is a part of the Cameo Shores neighborhood, an enclave of roughly 170 single-family properties set inside a safe and personal gated group.

“Cameo Shores is dwelling to a number of the most profitable, high-profile enterprise folks within the nation,” explains itemizing agent Tara Shapiro of EQTY/Forbes World Properties. “It’s a very unique, extraordinary place to be and solely 45 miles to Los Angeles—and Cameo Shores residents have gated entry to the ocean bluff trails to Crystal Cove State Seashore.”  Certainly there are three separate seashore entry factors in Cameo Shores, Shapiro provides, “which may be very uncommon for the area.”

Set near the famed Resort at Pelican Hill, the Camden Drive property exemplifies one of the best of the Corona del Mar life-style. Perched on a pair of parcels—one for residing, the opposite with out of doors gardens—the house is outlined by azure Pacific views. The principle entryway is all about area and quantity, capped by vaulted angular ceilings that body the huge ocean past. All through the open-plan residing areas, European stonework and Venetian plaster abound, providing a way of ritual to the house’s general resort-like vibe. 

The house is anchored by an expansive nice room, which features a light-filled front room that results in a moist bar, kitchen and eating space. There are arched home windows for extra ocean views and a stone hearth, together with reclaimed picket flooring and limestone masonry.  Within the kitchen itself, there’s a pizza kitchen, walk-in pantry and heart island for casual meals and prep. 

Additional on are the quartet of bedrooms, every en suite, together with an workplace and huge media room—all of that are framed by outsized home windows to permit each the Pacific and the encircling landscaping to shine by way of.  Certainly, it’s the house’s mixture of indoor and out of doors residing that’s most compelling—because of sprawling gardens that are set on what is actually a whole separate lot. “The backyard areas are extremely majestic as is the saltwater pool and spa,” says Shapiro, “which makes it a really dream dwelling for entertaining.” All through the gardens, there are citrus, olive and melaleuca bushes, together with an al fresco hearth when evenings change into cooler. 

With its small dimension and prime waterfront location Newport Seashore and Corona del Mar have fared properly throughout the pandemic because of “excessive curiosity and low provide,” says Shapiro. “Houses right here have maintained their worth regardless of the (detrimental) financial headwinds.”  

Nonetheless, Corona del Mar has not emerged completely unscathed from the nation’s housing value slide. Certainly, in line with actual property information agency Redfin, common Corona del Mar dwelling costs are down 29.7 percent year-over-year to only over $3.6 million. What’s extra, general dwelling gross sales have slumped by simply over 14 %, entire properties are usually not taking longer to promote; a mean of 43 days in 2022, in comparison with 31 days in 2021.

One shiny gentle, the median gross sales costs has elevated since 2021, up 5.2 %. So whereas the market could also be retreating considerably, Corona del Mar’s tiny dimension and distinct location make it a chief long-term funding wager.  “The proximity to world class outlets, eating places, unparalleled well being care, and John Wayne Airport make the realm extremely fascinating,” Shapiro says. “Properties listed here are very a lot funding grade.”

See beneath for extra images of 4601 Camden Drive: