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228 Merit
About This Property
Designed for comfortable, multi-functional living, the home features an abundance of living areas across three levels. The main floor offers an open-concept kitchen and living room that seamlessly connect to a private backyard, creating an ideal setting for both daily living and entertaining. The kitchen is thoughtfully upgraded with high-end stainless steel appliances, a built-in refrigerator, and a walk-in pantry that adds both convenience and storage. The backyard is hardscaped with concrete, providing a clean, low-maintenance outdoor space.
The second level includes three well-sized bedrooms along with a spacious loft area that serves as an additional living room. The primary suite enjoys peaceful views of mature greenery and features a well-appointed bathroom with dual vanities, a separate soaking tub, a walk-in shower, and a walk-in closet. A large balcony extends from the loft area, offering open views of trees and the surrounding neighborhood-perfect for relaxing or gathering.
The third level presents a full-floor loft, offering incredible flexibility for use as a media room, office, or entertainment space. This level is enhanced with custom built-in cabinetry and a built-in beverage refrigerator, along with access to another private balcony. Large windows throughout the home bring in abundant natural light while maintaining a high level of privacy, creating a bright and airy atmosphere across all levels.
With its prime location, modern upgrades, and multiple living spaces, this home delivers a rare combination of functionality, comfort, and elevated lifestyle in one of Irvine's most desirable communities.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 11, 2026 | Sold | ||
| Sold | |||
| May 14, 2026 | In contract | - | |
| In contract | |||
| May 5, 2026 | Listed by Keller Williams Realty Irvine | $1,750,000 | |
| Listed by Keller Williams Realty Irvine | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
05/05/2026
| |
3 Bed
|
2 Bath
|
2780 ft²
|
$1,750,000
3 Bed
2 Bath
2780 ft²
|
$1,730,000
-1.14%
06/11/2026
|
Irene Zhang
Pacific Sterling Realty
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017