1206 Mariners, Newport Beach, California 92660, Newport Beach, 92660 - 5 bed, 6 bath
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Newport Beach, California 92660
This Ready-to-Issue (RTI) Development Opportunity is listed at $4,600,000, carrying a premium over the $3,987,757 Fair Market Value due to its fully approved architectural plans. Located in the prestigious Dover Shores enclave, the property currently holds a Condition Rating of 6 and is sold as a teardown for a 5,660 sq. ft. luxury estate. The future residence includes a Pool, Spa, and 3-car garage, with access to elite Corona Del Mar High School and Eastbluff Elementary. This is a premier project for Luxury Developers or Owner-Users seeking a shovel-ready coastal masterpiece.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1206 Mariners Subject | $4,600,000* List Price | 5 | 6 | 2,573 | $1,524 | - |
A 1509 Anita Lane Sold | $3,845,000 | 4 | 3 | 2,441 | $1,575 | 0.4 mi |
B 1412 Santiago Dr Active | $3,800,000 List Price | 4 | 6 | 2,942 | $1,292 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is marketed as a Ready-to-Issue (RTI) development opportunity, with the list price reflecting the value of the land and fully approved architectural plans rather than the existing structure. Built in 1965, the current home is described in the listing analysis as a teardown with no immediate move-in utility, intended to be demolished to make way for a new 5,660 sq. ft. luxury residence.
Elementary School: Eastbluff Elementary School (9/10). High School: Corona Del Mar High School (9/10).
The property is sold with fully approved architectural plans and permits, saving the buyer years of design, engineering, and city approval processes.
Located in one of Newport Beach’s most coveted neighborhoods, ensuring strong long-term asset appreciation and a high-end coastal lifestyle.
The $4.6M asking price covers only the land and plans; the buyer must secure significant additional capital to fund the actual construction of the 5,660 sq. ft. home.
Permits and plans are not expected to be delivered until January 2026, creating a mandatory holding period before any physical construction can begin.
The existing 1965 structure is essentially a teardown, providing no immediate move-in value or rental potential for an occupant seeking a turnkey residence.
RARE RTI OPPORTUNITY IN PRESTIGIOUS DOVER SHORES Attention developers, investors, or owner-users looking to build the ultimate dream home in the highly coveted community. This exceptional project comes with fully approved architectural plans for a stunning two-story home featuring 5,660 sq. ft., 5 bedrooms, office, study room, secondary living room, and 5.5 baths. The thoughtfully designed main level includes a service kitchen with an oversized island and bar seating, flowing seamlessly into an expansive living area. Floor-to-ceiling glass doors open to the front patio, creating an ideal indoor/outdoor living experience. The dramatic great room impresses with its soaring ceilings and statement fireplace. Upstairs, the private primary suite offers a true retreat complete with a sauna, soaking tub, walk-in shower, dual vanities, spacious walk-in closet, and a private balcony. Three additional en-suite bedrooms complete the second level. Additional features include a pool and an oversized 3-car garage with EV-charging capability. Permits and plans are expected to be delivered in January 2026 at the close of escrow. An exceptional chance to customize and build your dream home in one of Southern California’s most desirable coastal neighborhoods. Price includes the existing house and approved plans only. Construction costs are not included.
No exterior & parking available.
Grades PK-6 • 0.7 mi
Grades PK-2 • 0.8 mi
Grades 3-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 70% |
| Baths | 6.0 | 3.0 | 85% |
| Square foot | 2,573 | 2,610 | 49% |
| Lot Size | 8,910 | 7,500 | 69% |
| Price | $4.60M | $3.97M | 61% |
| Price per sq ft | $1.8K | $1.4K | 83% |
| Built year | 1965 | 1970 | 36% |
| HOA | $0 | $375 | 33% |
| Days on market | 142 | 160 | 45% |
Dec 1, 2025
$4,600,000
Initial Listing
Jan 21, 2025
$3,525,000
Public Record