1201 E Balboa, Newport Beach, California 92661, Newport Beach, 92661 - 5 bed, 5 bath
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Newport Beach, California 92661
This Rare Oceanfront Corner Residence is a Strong Value Opportunity, listed at $10,895,000—positioned well below the $11,548,700 Fair Market Value by 5%. This valuation gap provides $653,700 in Instant Equity. Boasting an Excellent Condition Rating, the home features 41 feet of beach frontage, a three-level elevator, and rare six-vehicle parking. Located in the Newport Mesa Unified district with access to the 9/10 rated Newport Elementary, this property balances a coastal lifestyle with significant financial upside. It is an ideal acquisition for Luxury Homebuyers or Owner-Occupants.
Property is move-in ready.
The property is move-in ready and exceptionally well-maintained for its 1991 build date. It features high-end architectural details such as a three-level elevator, a wine cellar, and pristine parquet wood flooring. While the exterior and some window styles reflect its 1990s origin, the interior has been refreshed with modern recessed lighting, clean white walls, and an open-concept flow that meets contemporary luxury standards without requiring immediate renovation.
Elementary School: Newport Elementary School (9/10).
Situated on a rare oversized corner lot with 41 feet of direct beach frontage, providing unparalleled unobstructed views of the Pacific Ocean, bay, and coastline.
The property features a rare combination of garage and carport parking for up to six vehicles, a significant and highly sought-after advantage in the high-density Balboa Peninsula area.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 4.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 3178, living area = 4111.
Built in 1991, the residence may require modern aesthetic updates or system overhauls to meet the expectations of contemporary ultra-luxury buyers.
Set directly on the sand along one of Newport Beach’s most sought-after stretches of coastline, this exceptional oceanfront residence sits on a rare oversized corner lot with 41 feet of beach frontage, capturing sweeping, unobstructed views of the Pacific, bay, and coastline beyond. The home is defined by its seamless indoor-outdoor flow, opening to an expansive beachfront patio where the sand and sea feel like a natural extension of the living space. Light-filled interiors showcase an open-concept design with walls of glass, a statement fireplace, and a versatile layout featuring a main-level primary suite with ocean views, two additional guest bedrooms, separate staff quarters, and a private upper-level retreat, all connected by an elevator servicing three interior levels. A rooftop deck offers panoramic views in every direction, ideal for entertaining or relaxing above it all, while a lower-level wine cellar adds a refined touch. With garage and carport parking for up to 7 vehicles, this property delivers a rare blend of scale, architectural pedigree, and effortless beachfront living in an irreplaceable location.
No exterior & parking available.
Grades PK-6 • 1.5 mi
Grades 7-8 • 1.8 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.5 | 83% |
| Baths | 5.0 | 4.0 | 75% |
| Square foot | 4,111 | 2,561.5 | 92% |
| Lot Size | 3,178 | 2,614 | 63% |
| Price | $10.89M | $5.17M | 88% |
| Price per sq ft | $2.7K | $2.6K | 54% |
| Built year | 1991 | 1959 | 58% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 211 | 4% |
Apr 8, 2026
$10,895,000
Initial Listing