Introduction to the Enclave: Irvine Cove is arguably California’s most prestigious coastal address. Located in the northernmost end of Laguna Beach, Irvine Cove is a 24 hour guard-gated oceanfront enclave of approximately 110 homes. A distinctly relaxed and refined atmosphere pervades, with all the residences situated within a short distance of its scenic and private cove.
Bordered By: Irvine Cove is bordered by rolling green hills and nature preserve land to the east, the private beach community of Emerald Bay to the south, the shimmering blue Pacific Ocean to the west, and El Morro Canyon & Crystal Cove State Park to the north.
Views: Residents enjoy spectacular white water and ocean views, picturesque sunsets, beautiful natural cliff formations and rock outcroppings, rolling green hillsides and surrounding city night lights views.
Homes: Many different architectural influences and styles exist in the community including Contemporary, French, Mediterranean, Tuscan and Traditional, however, the original homes were built in the 1960s, so there is still a mid-century modern architectural flair that resonates throughout the community.
History: The Cove is named after James Irvine I, founder of the Irvine Ranch, which once occupied more than 110,000 acres of prime Orange County real estate. Many of the Irvine family descendants grew up on the beach at Irvine Cove and some still call it home today. However in 1958, Irvine Cove went from being a family compound to an exclusive beachside neighborhood. Today it is home to many of the area’s most influential business leaders, philanthropists, doctors, successful entrepreneurs, and real estate developers.
How the Community has Evolved: Native American Indians such as the Juanenos and Gabrielinos once dove and fished the fertile waters off Irvine Cove. Today, it remains a beautiful spot for snorkeling, skin and scuba diving, spear fishing, surfing and sunbathing. It’s also the location of Orange County’s most sought after and expensive real estate. Entry level prices into the community start out around $4.5 million and exceed $40 million on the high end. The most coveted properties in the community are the five “front row” homes that sit right above the beach, all of which have direct steps to the sand. After your first visit, you’ll understand why Irvine Cove is Orange County’s most premier address.
Community Features/Amenities/Special Events: Residents of Irvine Cove regard the community for the security and the privacy it affords them. They also enjoy the benefits of having a secluded private beach complete with sand volleyball courts, a playground and showers. Other notable amenities include a tennis court and several grassy parks – one of which lies directly above the beach.
Current Market Activity:
The community of Irvine Cove is broken up into three different areas. Irvine Cove Crest, which lies on the east side of the community (non-oceanside); Irvine Cove (oceanside) and Abalone Point (oceanside – northernmost end). Currently there are six properties for sale. The least expensive, listed for $4,995,000, is a four bedroom, 4.5 bath home that is just under 5,000 square feet and sits on a 12,770 square foot lot. The most expensive property currently listed is a five bedroom, 6.5 bath contemporary residence built in 2007. It has 8,600 square feet and sits on a 11,242 square foot lot. Originally listed for more than $20 million, the property is currently being offered for $16,988,000 or $1,975 a square foot. Currently, the average cost per square foot of properties listed is $1,844. The only sale in the community over the past 12 months is located at 2526 Monaco Drive, which closed for $6,050,000 or $1,853 a square foot on November 17, 2010. Originally listed for $6,900,000, the newly renovated four bedroom four bath residence was approximately 3,265 square feet and was situated on an 11,564 square foot lot.
Featured Listing: 2538 Monaco Drive. Listed for $5,795,000, this three bedroom, three bath renovated mid-century modern residence occupies a premium parcel; quiet, secluded, and in close proximity to the scenic private beach. Notable highlights of the property include beautiful sit-down blue water ocean views, lush private gardens with mature fruit trees, an outdoor covered sitting room with mounted plasma TV, and a multiple car garage with motor court. For more information or to set up a private viewing of this property, contact Tad Baltzer at 949.554.4140.
Information provided by Tad Baltzer. One of the area’s most successful real estate agents is known for delivering exceptional service and results to an impressive roster of high-profile clients. Over the past few years, he has sold nearly $50 million of real estate in Irvine Cove. Visit his website at www.tadbaltzer.com. Also, contact him at 949.554.4140 or by email at tbaltzer@homgroup.com.
