1516 E Oceanfront, Newport Beach, California 92661, Newport Beach, 92661 - 5 bed, 4 bath

1516 E Oceanfront, Newport Beach, California 92661 home-pic-0
ACTIVE$11,875,000
1516 E Oceanfront, Newport Beach, California 92661
5Beds
4Baths
3,083Sqft
3,720Lot

Price Vs. Estimate

The estimated value ($11,096,836.69) is $778,163.31 (6%) lower than the list price ($11,875,000). 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 = 3720, living area = 3083.

Compared to the nearby listings

Price:$11.88M vs avg $4.22M (+$7,650,000)88%
Size:3,083 sqft vs avg 2,046 sqft81%
Price/sqft:$3.9K vs avg $2.8K85%

More Insights

Built in 1963 (62 years old).
Condition: Despite being built in 1963, the MLS description explicitly states the property is a 'freshly re-imagined Nantucket-style residence' with a 'turnkey remodel.' The images strongly support this, showcasing a completely updated interior. The kitchen features modern white shaker cabinets, high-end stainless steel appliances (built-in refrigerator, double oven, gas range), white countertops, and a stylish blue and white patterned backsplash. Bathrooms are fully renovated with contemporary glass-enclosed showers, new tiling, and modern fixtures. Flooring throughout (hardwood, carpet, and tile) appears new and in excellent condition. All visible components meet current quality standards, indicating an extensive renovation within the last 5 years, making it move-in ready with no deferred maintenance.
Year Built
1963
Close
-
List price
$11.88M
Original List price
$11.88M
Price/Sqft
$3,852
HOA
-
Days on market
-
Sold On
-
MLS number
NP25199245
Home ConditionExcellent
Features
Excellent View: Catalina, City Lights, Coastline, Neighborhood, Ocean, Panoramic, Water
Deck
Patio
ViewCatalina,City Lights,Coastline,Neighborhood,Ocean,Panoramic,Water

About this home

Situated on a premier, oversized oceanfront lot, this freshly re-imagined Nantucket-style residence combines timeless East Coast charm with the beauty of Newport Beach’s most iconic shoreline. Ideally located within the treasured Peninsula Point neighborhood, the home offers both a premier address and a lifestyle defined by surf, sand, and coastal sophistication. Approached through a flowering garden courtyard, the home balances warmth and privacy with the ease of indoor-outdoor living. Generous oceanfront living, dining, and kitchen spaces form the heart of the home, where windows frame whitewater views and French doors open directly to a wide beachfront patio—the perfect setting to delight in al fresco dining or a sunset glass of wine with friends. With a family friendly layout, the home boasts five bedrooms to include a thoughtful first-floor guest accommodation. Upstairs the oceanfront primary retreat enjoys a private office/sitting room, and an expansive oceanfront terrace with a panorama of sunrise to sunset views over the Pacific. There is also a spacious bonus/media room that offers additional flexibility for gatherings, work, or play. An oversized two-car garage, with additional exterior parking for two cars provides a rare convenience on the Peninsula. Life on Peninsula Point is both relaxed and vibrant: mornings at The Wedge, bike rides along the boardwalk, afternoons at the community bay beach or private tennis club, and evenings watching the sun sink into the Pacific from your own patio. With its rare oversized lot, turnkey remodel, and enduring Nantucket character, this home is a move-in ready oceanfront offering in one of Newport Beach’s most exclusive seaside communities.

Nearby schools

9/10
Newport Elementary School
Public,PK-61.7mi
7/10
Horace Ensign Intermediate School
Public,7-82.0mi
7/10
Newport Harbor High School
Public,9-122.2mi
Condition Rating
Excellent

Despite being built in 1963, the MLS description explicitly states the property is a 'freshly re-imagined Nantucket-style residence' with a 'turnkey remodel.' The images strongly support this, showcasing a completely updated interior. The kitchen features modern white shaker cabinets, high-end stainless steel appliances (built-in refrigerator, double oven, gas range), white countertops, and a stylish blue and white patterned backsplash. Bathrooms are fully renovated with contemporary glass-enclosed showers, new tiling, and modern fixtures. Flooring throughout (hardwood, carpet, and tile) appears new and in excellent condition. All visible components meet current quality standards, indicating an extensive renovation within the last 5 years, making it move-in ready with no deferred maintenance.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Premier Oceanfront Location: Situated on a rare, oversized oceanfront lot within the highly coveted Peninsula Point neighborhood, offering direct beach access and an iconic Newport Beach address.
Turnkey & Re-imagined Design: A freshly re-imagined Nantucket-style residence with timeless charm and a turnkey remodel, ensuring a move-in ready experience for the discerning buyer.
Panoramic Ocean Views: Features expansive whitewater views from main living areas and an oceanfront primary retreat with a private terrace offering panoramic sunrise to sunset views over the Pacific, Catalina, and city lights.
Exceptional Indoor-Outdoor Living: Designed for seamless indoor-outdoor living with a flowering garden courtyard, generous oceanfront living spaces, and a wide beachfront patio perfect for al fresco dining and entertaining.
Flexible & Family-Friendly Layout: Boasts a family-friendly layout with five bedrooms, including a first-floor guest accommodation, a private office/sitting room, and a spacious bonus/media room for versatile use.

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 = 3720, living area = 3083.
High Price Point: The list price of $11.875 million positions this property in an extremely exclusive market, significantly limiting the pool of potential buyers.
Age of Original Structure: While freshly re-imagined, the home was originally built in 1963, which may imply potential for older underlying infrastructure or systems not explicitly detailed as updated in the remodel.
Public Beach Proximity/Privacy: Direct oceanfront location with a wide beachfront patio, while desirable, may lead to reduced privacy from public beachgoers and potential for noise from beach activities.

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