
Newport Beach, California 92660
Analysis of 1542 Galaxy Drive, Newport Beach, California 92660 is currently available with a list price of $8,995,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. 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 Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
The property is a 1964 original structure marketed primarily for its land value. The listing focuses on conceptual plans for a new 8,000 sqft residence, and aerial photos show the existing building and pool in a state of significant neglect, meeting the criteria for a structure over 50 years old with no renovations.
Elementary School: Eastbluff Elementary School (9/10). High School: Corona Del Mar High School (9/10).
The property boasts a rare 18,321-square-foot lot with a depth of nearly 200 feet, offering a massive and versatile canvas for a world-class estate that is uncommon for bluff-front locations.
Situated directly above the Upper Newport Bay Ecological Reserve, the site provides permanent, unobstructed views of the water, wetlands, and Newport Center skyline that cannot be built out.
The property was recently sold within the past year on 2025-09-30. The sold price is $6,350,000.00.
The existing 1964 structure is primarily a teardown or major remodel opportunity, meaning the nearly $9 million list price covers the land and potential rather than a move-in-ready home.
The provided plans are conceptual and remain subject to strict governmental approvals and permitting, which may result in modifications to the envisioned scale or design.
You can build a home. You cannot build this lot. On the bluff above the Back Bay in Dover Shores, 1542 Galaxy Drive is 18,321 square feet of land - approximately 93 feet wide and nearly 200 feet deep - with panoramic, unobstructed views across Upper Newport Bay to the bluffs and the Newport Center skyline. Here, the land is the luxury. What lies in the sightline is the Upper Newport Bay Ecological Reserve: protected open space of water, wetlands, bluffs, and sky. Morning fog over the marsh, egrets along the shallows, golden evening light across the water - the everyday backdrop of life here. The land is where the story begins. The 1964 residence on it is an opportunity to reimagine the site, and a complete design vision has already been created by architect Rory Foubister, with interiors by Lindye Galloway and construction envisioned by Well Done Builders. That concept is conceived as a reveal. From the street, almost nothing - a low stone wall, olive trees, a screened gate. Inside, a courtyard opens to the sky around a mature olive tree. Beyond it, the house gives way to a wall of glass, pool and lawn, and the whole bay. Envisioned at approximately 8000 square feet - five bedrooms, seven bathrooms, a gym and wellness center, a subterranean level with car turntable, and an ADU or executive office. The sequence is only possible because of the depth. Nearly 200 feet buys a courtyard at the heart of the plan, real separation between arrival, entertaining, and retreat, and outdoor rooms that work as rooms. For a buyer with a different vision, the opportunity is equally compelling. The value is not one set of plans. It is the scale, proportion, and setting of the land itself. Dover Shores is the quiet side of Newport - wide curving streets, mature landscaping, and a generation of new custom homes rising above the Back Bay. Launch a kayak at dawn, run the Back Bay Loop Trail from the edge of the neighborhood, and reach Newport Harbor, the beaches, Corona del Mar, and Fashion Island in minutes. Homes can be remodeled. Homes can be replaced. What cannot be recreated is the land beneath them, the scale around them, and a setting like this. APN 117-663-08. Existing residence built 1964. Plans and renderings are conceptual, subject to change and to governmental approvals. Buyer to independently verify all dimensions, square footage, views, development potential, permits, approvals, schools, and other details.
No exterior & parking available.
Grades PK-6 • 0.7 mi
Grades PK-2 • 0.9 mi
Grades K-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 7.0 | 4.0 |
| Baths | 5.0 | 3.8 |
| Square foot | 5,218 | 2,729.518 |
| Lot Size | 18,321 | 6,677.813 |
| Price | $8.99M | $4.20M |
| Price per sq ft | $1.7K | $1.6K |
| Built year | 1964 | 1972 |
| HOA | $1286.52 | $414 |
| Days on market | 7 | 63 |
Sep 2, 2026
$8,995,000
Initial Listing
Sep 30, 2025
$6,350,000
Public Record