$5,498,000

A rare harbor-view opportunity in the heart of Corona del Mar, 2516 Bayside Drive combines immediate income potential with a fully approved, permit-ready path to an exceptional new custom residence. Positioned on an approximately 3,540-square-foot lot, the property enjoys prominent harbor views and additional on-site parking while currently offering two 2-bedroom,… Read More 2-bath residences plus a studio, with projected gross rental income of approximately $14,000 per month, or $168,000 annually. Two of the three units are currently vacant, with only the larger 2-bedroom residence tenant-occupied, providing a future owner with added flexibility for leasing, personal use, or future redevelopment while determining the optimal timing for construction. The property's defining opportunity is its fully approved architectural plans for an approximately 3,500-square-foot, three-level contemporary single-family residence, with the building permit ready for pickup. Originally designed by Brandon Architects and subsequently completed and finalized by Horst Architects, the residence has been thoughtfully conceived to maximize the property's harbor views and exceptional coastal setting. Renderings included in the listing photos are conceptual architectural renderings of the approved proposed residence and are provided for illustrative purposes only. The sophisticated design features expansive glazing and seamless indoor-outdoor living, a dramatic great room with fireplace, and a large eat-in kitchen with island and pantry. The residence offers four full bedrooms and four full bathrooms, including en-suite secondary bedrooms and a luxurious primary suite with fireplace and walk-in closet, plus two additional powder rooms—one conveniently located on the main level and another on the rooftop. Additional highlights include an elevator, two-car garage, expansive outdoor living areas, and a spectacular rooftop entertaining deck complete with a covered cabana and powder room. Unlike a typical development opportunity requiring a lengthy architectural, entitlement, and approval process, 2516 Bayside offers the flexibility of income today together with a substantially advanced path toward creating a new luxury residence. Harbor views. Immediate income potential. Two units currently vacant. Fully approved plans. Building permit ready for pickup. An exceptional opportunity to create a signature coastal residence in Corona del Mar. Read Less

Listing Snapshot

Days Online

Last Updated

Oct 9, 2026

Property Type

Duplex

Beds

Full Baths

Square Ft.

2,550

Lot Size

0.08 Acres

Year Built

1972

MLS Number

OC26216438

Additional Details

Property Access

Frontage Type: CityStreet, Road Surface: Paved

Appliances & Equipment

Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, Freezer, Disposal, IceMaker, Microwave, Dryer, Washer

Building

Built in 1972, Living area: 2550.0, Living area units: SquareFeet, Building faces Northwest, 2 stories, Levels: Two, Entry level: 2, Entry location: 2, Construction Materials: Asphalt, Drywall, Stucco

Community

3 units in community, Biking, Curbs, Gutters, Park, StreetLights, Sidewalks

Cooling

CentralAir, AtticFan

Disclosures

AccessoryDwellingUnit

Accessibility Features

NoStairs, Parking, AccessibleHallways

Exterior Features

Patio/Porch Features: Deck, FrontPorch, Open, Patio, Terrace, Wood, Awnings, RainGutters

Fence

Block, Privacy

Fireplaces

None

Floors

Laminate

Foundation

Raised, Slab

Garage

2 spaces

Heating

Central

Home Owner's Association

Association Fee: $0

Interior Features

BreakfastBar, Balcony, BreakfastArea, CeilingFans, SeparateFormalDiningRoom, LaminateCounters, MultipleStaircases, Unfurnished, AllBedroomsUp, InstantHotWater, PrimarySuite

Laundry

Inside, InKitchen, UpperLevel

Lot

0.0813 acres, Dimensions: 30 X 118, TwoToFiveUnitsAcre, FrontYard, Greenbelt, Lawn, RectangularLot, SprinklersTimer, TearDown, ValueInLand

Parking

4 open parking spaces, 6 total parking spaces, DoorMulti, DirectAccess, Driveway, DrivewayUpSlopeFromStreet, GarageFacesFront, Garage, Oversized, Public, Private

Pool

None

Property

BuildingPermit, Bay, CityLights, ParkGreenbelt, Harbor, Ocean, Water

Roof

Asphalt, Composition, Flat

Security Features

SmokeDetectors

Sewer

PublicSewer

Taxes

Additional parcels description:, Parcel Number: 45911410, Tax Block: 331, Lot: 1

Utilities

CableConnected, ElectricityAvailable, ElectricityConnected, SewerConnected, WaterConnected, Water Source: Public, ElectricityOnProperty, Volts220InGarage

Water Features

OceanSideOfHighway

Windows

Blinds

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