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$590,000
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Property Description
LAKEFRONT LUXURY IN THE ISLANDS - YOUR DREAM HOME AWAITS! Step into a fully reimagined waterfront masterpiece in the coveted Gilbert community of The Islands, where every sunset paints the sky and the lake becomes your backyard. This stunning 2-bedroom townhome with a large office that easily converts to a 3rd bedroom has been lavishly transformed with over $100K in loss is your golden opportunity. The expansive great room welcomes you with soaring vaulted ceilings and walls of windows that flood the space with natural light. French doors glide open to a private patio perched over the serene lake, perfect for morning coffee or evening wine, while panoramic water views stretch from nearly every angle. Flow seamlessly... into the gourmet kitchen and dining area, where a breakfast bar frames shimmering lake vistas. Enjoy brand-new KitchenAid top oven, microwave, dishwasher, vent hood and refrigerator, alongside refinished cabinetry with sleek hardware, a large pantry, and new faucets. The open layout is ideal for entertaining. Retreat to your primary suite sanctuary upstairs, complete with a private balcony showcasing mesmerizing lake sunsets, a huge walk-in closet, and a spa-like ensuite featuring a deep soaking tub, glass-enclosed walk-in shower, double vanities, and a dedicated makeup station. Convenience meets style with a laundry room including a sink and new Electrolux washer and dryer, located just off the 2-car garage. Every detail is brand new from 2024 and 2025: fresh interior and exterior paint, luxury vinyl plank flooring throughout, new HVAC, roof, and hot water heater, plus all-new ceiling fans, recessed lighting, door hardware, closet doors, towel bars, upgraded window treatments, toilets, and bathroom fixtures. Live the Islands lifestyle with kayaking, fishing, or boating from your doorstep, while top-rated schools, boutique shops, and downtown Gilbert's vibrant dining scene are just a short walk away. This unbeatable location blends serene lake living with urban convenience. This is more than a home; it's a lifestyle upgrade. Priced for immediate sale, don't let this rare waterfront gem slip away.
Full Property Details
Full Property Details for 1426 W Coral Reef Dr
General
- Sold For: $590,000
- HOA FEE: $64/month
- HOA FEE FREQ.: Semi-Annually
- Taxes: $2,641 (2024)
- Status: Closed
- Type: Townhouse
- Source: ARMLS_Arizona_MLS_Phoenix_Area
- MLS ID: 6947403
- Added to Site: 109 day(s) ago
Interior
- Interior Features: Walk-in Pantry, High Speed Internet, Double Vanity, Upstairs, Eat-in Kitchen, Vaulted Ceiling(s), Full Bth Master Bdrm, Separate Shwr & Tub
- Appliances: Dryer, Washer, Reverse Osmosis, Refrigerator, Built-in Microwave, Dishwasher, Disposal, Electric Cooktop
- Flooring: Vinyl, Tile
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 2
- Half Bathrooms: 1
Bedrooms
- Total Bedrooms: 2
Exterior
- Exterior Features: Balcony
Parking
- Garage: Yes
- Garage Spaces: 2
- Parking Features: Garage Door Opener, Circular Driveway, Attch'd Gar Cabinets, Common
Location
- County: Maricopa
- Township: 1S
- Subdivision: TOWNHOMES ON CORAL REEF
- Cross Streets: Elliot & McQueen
Community
- Association: Yes
- Assoc. Name: The Islands
- Assoc. Fees Include: Insurance, Pest Control, Maintenance Grounds, Front Yard Maint, Trash, Maintenance Exterior
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air
- Heating Type: Electric
Utilities
- Water: City Water
Structural Information
- Architectural Style: Spanish,
- Builder: Scremin Builder
- Exterior Const.: Stucco, Wood Frame
- Roof: Tile, Foam
- Windows: Solar Screens
- Sq. Ft. Source: Assessor
- Year Built: 2000
Lot Features
- Property View: Lake
- Lot Size (Acres): 0.05
- Lot Size (Sq. Ft.): 2,030
- Lot Size Source: Assessor
- Lot Features: North/South Exposure, Waterfront Lot, Desert Front, Grass Back, Auto Timer H2O Front, Auto Timer H2O Back
- Fencing (Description): None
Water Features
- Water Front: Yes
- Water View: Yes
Financial Considerations
- Association Fee: $381
- Assoc Fee Freq.: Semi-Annually
- Other Assoc Fees: $224
- Tax Amount: $2,641
- Tax Year: 2024
- Terms: Cash, Conventional, FHA, VA Loan
Disclosures and Reports
- Ownership: Fee Simple
- Legal Description: LOT 22 TOWNHOMES ON CORAL REEF MCR 028348
- Property ID: 302-30-578
- Range: 5E
- Section: 14
- Lot Number: 22
Listed by RE/MAX Excalibur
Sold by My Home Group Real Estate
Get Pre-Approved Today
Schools
Schools serving 1426 W Coral Reef Dr
School District:Gilbert Unified District
| Name | Grades | Distance |
|---|---|---|
Islands Elementary School 245 South McQueen Road, Gilbert, AZ 85233 | PK-6 | 0.2 mi |
Mesquite High School 500 South McQueen Road, Gilbert, AZ 85233 | 9-12 | 0.5 mi |
Mesquite Jr High School 130 West Mesquite Street, Gilbert, AZ 85233 | 7-8 | 1.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1426 W Coral Reef Dr
Date
Details
Price
Change
Source
2/12/2026
Sold
$590,000
-0.84%
MLS
1/08/2026
Price Reduced
$594,999
-0.83%
MLS
11/15/2025
Listed
$599,999
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1426 W Coral Reef Drive, Gilbert, AZ 85233 (MLS# 6947403) is a Townhouse property that was sold at $590,000 on February 12, 2026. Want to learn more about 1426 W Coral Reef Drive? Do you have questions about finding other Townhouse real estate for sale in Gilbert? You can browse all Gilbert real estate or contact a Coldwell Banker agent to request more information.

