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114 Oceanfront E, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 5 bath

114 Oceanfront E, Newport Beach, California 92661 home-pic-0
ACTIVE$7,995,000
114 Oceanfront E, Newport Beach, California 92661
3Beds
5Baths
2,640Sqft
2,100Lot

Price Vs. Estimate

The estimated value ($7,301,500.19) is $693,499.81 (8%) lower than the list price ($7,995,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Elementary School: Newport Elementary School (9/10).
Top Cons:
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2100, living area = 2640.

Compared to the nearby listings

Price:$8.00M vs avg $4.22M (+$3,770,000)77%
Size:2,640 sqft vs avg 2,046 sqft73%
Price/sqft:$3.0K vs avg $2.8K58%

More Insights

Built in 2024 (1 years old).
Condition: This property is a rare new construction built in 2024, making it virtually brand new. The description highlights a custom Cooper Pacific kitchen with marble countertops, Waterworks fixtures, and Sub-Zero and Wolf appliances, along with a 'spa-like bath' in the primary suite. All components, including flooring, light fixtures, and smart home technology, are new, high-end, and meet current luxury standards, indicating no deferred maintenance and minimal physical depreciation. The images confirm the pristine condition and modern, high-quality finishes throughout.
Year Built
2024
Close
-
List price
$8M
Original List price
$9.49M
Price/Sqft
$3,028
HOA
-
Days on market
-
Sold On
-
MLS number
NP25006320
Home ConditionExcellent
Features
Excellent View: Catalina, City Lights, Coastline, Ocean, Panoramic, Pier, Water
Deck
ViewCatalina,City Lights,Coastline,Ocean,Panoramic,Pier,Water

About this home

A rare new construction by ATP Builders, 114 E Oceanfront captures the essence of coastal luxury with panoramic views of the Pacific and Catalina Island. Spanning 2,640 sq. ft., this residence is offered fully furnished by Serena & Lily, blending modern elegance with relaxed seaside living. The custom Cooper Pacific kitchen is a showpiece with marble countertops, Waterworks fixtures, Sub-Zero and Wolf appliances, a walk-in pantry, and a built-in bar with wine and beverage refrigerators. Designed for seamless indoor-outdoor living, the home offers a built-in BBQ, fire pit, outdoor shower, and landscape design by Molly Wood Garden Design. The second floor features three en suite bedrooms, including a primary suite with ocean views, private office, spa-like bath, and custom walk-in closet. The third floor hosts a versatile media lounge or optional fourth suite, plus two rooftop terraces—the front with sweeping views, fireplace, and wet bar; the rear designed for wellness with sauna and cold plunge. Smart home technology, bespoke furnishings, and meticulous craftsmanship make this property a turnkey opportunity to own a custom coastal retreat in one of Newport Beach’s most coveted locations.

Nearby schools

9/10
Newport Elementary School
Public,•PK-6•0.8mi
7/10
Horace Ensign Intermediate School
Public,•7-8•1.2mi
7/10
Newport Harbor High School
Public,•9-12•1.5mi
Condition Rating
Excellent
This property is a rare new construction built in 2024, making it virtually brand new. The description highlights a custom Cooper Pacific kitchen with marble countertops, Waterworks fixtures, and Sub-Zero and Wolf appliances, along with a 'spa-like bath' in the primary suite. All components, including flooring, light fixtures, and smart home technology, are new, high-end, and meet current luxury standards, indicating no deferred maintenance and minimal physical depreciation. The images confirm the pristine condition and modern, high-quality finishes throughout.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Oceanfront Location & Panoramic Views: Situated directly on Oceanfront E in Newport Beach's coveted Balboa Peninsula, offering breathtaking panoramic views of the Pacific Ocean and Catalina Island.
Brand New Luxury Construction & Turnkey: A rare new construction built in 2024 by ATP Builders, offered fully furnished by Serena & Lily, providing a meticulously crafted, high-end, and ready-to-move-in luxury experience.
Exceptional Indoor-Outdoor Living & Rooftop Amenities: Designed for seamless indoor-outdoor living with a built-in BBQ, fire pit, outdoor shower, and two rooftop terraces featuring a fireplace, wet bar, sauna, and cold plunge.
Gourmet Kitchen & High-End Finishes: Features a custom Cooper Pacific kitchen with marble countertops, Waterworks fixtures, Sub-Zero and Wolf appliances, a walk-in pantry, and a built-in bar with wine and beverage refrigerators.
Smart Home Technology & Versatile Layout: Equipped with smart home technology, three en suite bedrooms, a private office, and a versatile third-floor media lounge or optional fourth suite, offering modern convenience and flexibility.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2100, living area = 2640.
Significant Price Reductions: The property has undergone substantial price reductions from its original list price of $9.495M to $7.995M, which may suggest initial overpricing or market resistance.
Compact Lot Size: With a lot size of only 2,100 sq. ft., the property offers limited ground-level outdoor space, which might be a consideration for buyers desiring a larger yard.
Premium Pricing Relative to Estimated Value: Despite price adjustments, the current list price remains significantly above the property's estimated market value, potentially impacting perceived value and buyer interest.

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