Do not miss the second opportunity in over 50 years to make this residence yours. Perched in one of the most coveted neighborhoods in Corona Del Mar sits 428 Cabrillo Terrace with unobstructed panoramic ocean and Catalina island views. Enjoy a quick walk to the stunning private beach or walk to the charming Corona Del Mar village in minutes. Evening ocean and Catalina sunsets are shared with nature sounds, at times you hear the waves crashing with barking seals, frogs, birds etc. This single story home is turn key and recently renovated throughout. Open concept with family room fireplace, wood floors, all new white oak cabinetry, Solitaj quartz countertops throughout and new Thermador appliances. Ample outdoor space with tons of luscious greenery giving a true sense of serenity upon arrival. Massive opportunity! Enjoy the home as is and continue to hold value or have the rare opportunity to develop. This lot has approximately 14 foot elevation difference from Serra Dr to Cabrillo Terrace. Current peak of structure height is under 11.5 ft, opportunity to go up even higher. Lot is a site area coverage of 60% with no square footage maximum. Possibility to build a complete subterranean garage/basement of over 3,700 sq ft and a residence of over 7500 sq ft.