Open House Review: 110 Coral Rose

Dec 26th, 2012  
by SMS  in Real Estate Analysis

Turtle Ridge Condo Challenge      
110 Coral Rose, $509,000

Either this condo will fit the buyer like a glove, or not at all.   That was my first impression when I drove up Coral Rose, a short distance from Newport Drive. The street is quiet, lined with three story condos, each carefully framed with well tended greenery.

Inside, the condo was humming with a steady stream of open house traffic. When I saw it the home had just been placed on the market, and 6 days later it is listed as a pending sale. Evidently it fit someone perfectly.

Significant Numbers: This 2 bedroom, 2.5 bath Ashton Green model is 1,354 sq. ft. arranged on three levels. Built in 2004, HOA dues are $238 a month and the $/sq. ft. is $376.  There are Mello Roos taxes.

CloseUp: 110 Coral Rose is the end unit with a nice band of green space along the walkway leading to the patio entrance.  The overall space has been nicely staged  with high ceilings, wood floors,  built ins and crown moldings giving the home a crisp put-together image.

On the flip side, the three levels and flights of stairs may present some challenges and will certainly shape daily living routines.

As you step inside, there are double doors straight ahead that open into one of the home’s two bedrooms with ensuite bath. The master is many steps away on the third level.

Depending on the buyer, as an individual,  couple, or perhaps two roommates, this could work.  The main floor bedroom could also function as a guest room, or become a study/office.

To the left of the entry a flight of steps takes you to the main living area with a living room/family room, built in desk corner, and nearby dining area.  Around the corner there is a powder room, and a slim slice of a kitchen with granite counters, stainless appliances, double sinks and a tiled backsplash. Opposite the kitchen there is a small covered deck.

Then up the final flight there is the master bedroom with large walk-in closet, and bath with double vanity, tile counters, and shower backsplash.

Specifics:
Bedrooms,2
Baths, 2.5
Sq. ft., 1,354
$/sq. ft. $376
HOA dues, $238
1 common wall attached
Double garage, epoxy floor
Two parking spaces.
Association pool and spa

Throughout the home there is a lot of light with well placed windows. But the views are limited, with duplicate units sitting across the way. The unit has double paned windows and a stacked washer and dryer in a laundry area on the ground floor.

What is to be considered here?  The three levels, open floor plan, overall square footage and price will all be evaluated, perhaps as an investment, or a first home in Irvine. 

Who will be moving in? Since it is a pending sale we may soon know. But it could be an individual who works in the area and wants easy access to the airport and nearby beach communities, or a busy couple who travel but need a sleek local operating base.  

Recent listing: 5 Moondust #30, $580.000.   Recent sales: 211 Lonetree sold for $580,000 in June; 231 Coral Rose sold for $450,000 in October.

Discuss on Talk Irvine: http://www.talkirvine.com/index.php/topic,3420.0.html


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