116 E Oceanfront, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 3 bath

116 E Oceanfront, Newport Beach, California 92661 home-pic-0

116 E Oceanfront

Newport Beach, California 92661

ACTIVE
CONDITION: FAIR
3Beds
3Baths
2,007Sq Ft
2,100Lot Size

Property Price

LIST PRICE$6,595,000
EST. MARKET VALUE
$7,350,118
10% BelowMARKET VALUE

SUMMARY

Analysis of 116 E Oceanfront, Newport Beach, California 92661 reveals a Prime Investment Opportunity with a current list price of $6,595,000—significantly undercutting the $7,350,118 Fair Market Value by 10%. This valuation gap indicates a +$755,118 Instant Equity potential for buyers. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Newport Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.

Estimated Market Value

$7,350,118 +$755,118 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Newport Beach.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
116 E Oceanfront
Subject
$6,595,000*
List Price
332,007$3,662-
A
206 E Oceanfront
Active
$6,595,000
List Price
331,583$4,1660.1 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Fair
TeardownExcellent

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Built in 1977, the property is well-maintained and functional but significantly outdated.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.

PROSSTRENGTHS & OPPORTUNITIES

  • Great Schools

    Elementary School: Newport Elementary School (9/10).

  • Prime Oceanfront Location

    Situated directly on the sand along the iconic Balboa Peninsula, this property offers an irreplaceable front-row coastal position with immediate beach access.

  • Exceptional Panoramic Views

    The residence captures sweeping, unobstructed views of the Pacific Ocean, Catalina Island, and the Balboa Pier, providing a stunning backdrop for daily living.

CONSRISKS & DEFICIENCIES

  • 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 = 2007.

  • Dated Construction

    Built in 1977, the home likely requires significant capital expenditure for modern upgrades or a full renovation to meet current luxury market expectations.

  • High Price per Square Foot

    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.

About 116 E Oceanfront

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.

Property Details

Public Facts

Property Type
Single Family Residence
Year Built
1977
Lot Size
2,100 Sq. Ft.

Interior

Total Bedrooms
3
Total Bathrooms
3 (3 Full, 0 Half)

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Newport Beach Unified Schools

Newport Elementary School

Grades PK-6 • 0.8 mi

9/10

Horace Ensign Intermediate School

Grades 7-8 • 1.2 mi

7/10

Newport Harbor High School

Grades 9-12 • 1.5 mi

7/10

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds3.03.0
50%
Baths3.04.0
45%
Square foot2,0072,053
45%
Lot Size2,1002,614
16%
Price$6.59M$4.50M
65%
Price per sq ft$3.3K$2.5K
74%
Built year19771980
48%
HOA$0$0
50%
Days on market26177
3%

Pricing History

Listed for Sale

Feb 9, 2026

$6,595,000

Initial Listing

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