Discover the potential in this three-bedroom, two-bathroom residence located in the prestigious Irvine Terrace, a prime seaside enclave, offering a canvas for personalization and enhancement. The appx. 7,098 SF homesite offers ocean vistas from the comfort of the primary suite and main living area, with views stretching from Catalina Island to Newport Harbor and beyond. The interiors span approximately 1,510 square feet and feature a spacious fireplace-warmed living room, a formal dining area, and a functional kitchen, now adorned with pristine new quartz countertops and backsplash. Sliding glass doors unveil a spacious backyard, offering ample room and potential to create your personalized dream outdoor oasis. Additional upgrades include new carpeting in the living areas and two bedrooms, new vinyl plank flooring in the kitchen, the hall bath, and one of the bedrooms' en suites. Completing the home is an attached two-car garage and driveway. Perfectly positioned just a stone's throw from Fashion Island's exclusive shopping, fine dining, vibrant Newport Harbor, and expansive sandy beaches, 1427 Serenade Terrace stands as a beacon of luxury and convenience.