116 E Oceanfront, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 3 bath
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Newport Beach, California 92661
This Rare Oceanfront Value-Add Opportunity is a High-Potential Investment Opportunity listed at $6,595,000—positioned well below the $7,350,118 Fair Market Value by 10%. This valuation gap provides $755,118 in Instant Equity. While the home maintains a Functional Condition Rating, its 1977 interior offers significant upside for a luxury reimagining. Featuring Panoramic Pacific Views and proximity to 9/10 Rated Newport Elementary, this asset balances lifestyle prestige with forced appreciation. It is perfectly suited for Luxury Renovators or Owner-Occupants seeking a custom coastal masterpiece.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 116 E Oceanfront Subject | $6,200,000* List Price | 3 | 3 | 2,007 | $3,662 | - |
A 206 E Oceanfront Active | $6,595,000 List Price | 3 | 3 | 1,583 | $4,166 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1977, the property is well-maintained and functional but significantly outdated. The kitchen features older white appliances, electric cooktops, and tile countertops with wood trim characteristic of the late 70s/early 80s. Bathrooms and flooring show signs of age, and while the home is move-in ready, it lacks the modern luxury finishes and open-concept updates expected in this price bracket, making it a likely candidate for a full interior renovation.
Elementary School: Newport Elementary School (9/10).
Situated directly on the sand along the iconic Balboa Peninsula, this property offers an irreplaceable front-row coastal position with immediate beach access.
The residence captures sweeping, unobstructed views of the Pacific Ocean, Catalina Island, and the Balboa Pier, providing a stunning backdrop for daily living.
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 = 2007.
Built in 1977, the home likely requires significant capital expenditure for modern upgrades or a full renovation to meet current luxury market expectations.
At a list price of $6.595M for approximately 2,007 square feet, the acquisition cost is heavily weighted toward the land value rather than the existing improvements.
Perfectly positioned along the oceanfront of the iconic Balboa Peninsula, 116 E Oceanfront presents a rare opportunity to enjoy a true front-row coastal lifestyle. Currently configured as a 3-bedroom, 2.5-bath residence spanning approximately 2,007 square feet, the home offers a compelling blend of comfort, character, and flexibility—equally suited as a refined beach residence or a foundation for a thoughtfully reimagined coastal retreat. Set directly on the sand, the property captures sweeping ocean views, golden sunsets, and the ever-changing rhythm of the Pacific just steps from your door. Light-filled living spaces are intentionally oriented toward the water, creating a seamless indoor-outdoor flow and an immersive connection to the beachfront setting. Whether enjoyed as a full-time residence or a weekend escape, the home embodies an elevated yet relaxed coastal lifestyle—perfect for morning walks along the boardwalk, afternoons by the shore, and evenings watching the sun dip below the horizon. Located just moments from the Balboa Pier, world-class dining, boutique shopping, and all that Newport Beach has to offer, 116 E Oceanfront is more than a home—it’s a rare chance to secure an irreplaceable oceanfront position in one of Southern California’s most coveted beach communities.
No exterior & parking available.
Grades PK-6 • 0.8 mi
Grades 7-8 • 1.2 mi
Grades 9-12 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 4.0 | 42% |
| Square foot | 2,007 | 2,436.5 | 38% |
| Lot Size | 2,100 | 2,614 | 13% |
| Price | $6.20M | $5.17M | 54% |
| Price per sq ft | $3.1K | $2.6K | 67% |
| Built year | 1977 | 1959 | 54% |
| HOA | $0 | $0 | 50% |
| Days on market | 72 | 211 | 8% |
Mar 26, 2026
$6,200,000
$6,595,000
-6% Price Drop
Initial Listing
Feb 9, 2026
$6,595,000
Initial Listing