1585 E Ocean, Newport Beach, California 92661, Newport Beach, 92661 - 5 bed, 5 bath

1585 E Ocean, Newport Beach, California 92661 home-pic-0
ACTIVE UNDER CONTRACT$7,300,000
1585 E Ocean, Newport Beach, California 92661
5Beds
5Baths
4,084Sqft
4,900Lot
Year Built
1931
Close
-
List price
$7.3M
Original List price
$7.3M
Price/Sqft
$1,787
HOA
-
Days on market
-
Sold On
-
MLS number
PW25264664
Home ConditionPoor
Features
Good View: Neighborhood, Peek-A-Boo
ViewNeighborhood, Peek-A-Boo

About this home

We found 4 Cons,6 Pros. Rank: price - $7.30M(73th), sqft - 4084(92th), beds - 5(96th), baths - 5(81th).

Rare double-lot opportunity on the Newport Beach Peninsula offering 4,084 square feet of living space with incredible potential for remodel or rebuild. This Spanish Colonial style residence with a partially raised foundation showcases a large enclosed front courtyard with patio, built-in BBQ, fireplace, fountain, and landscape lighting. Inside, the home features wooden ceilings, crown molding, and a blend of wood and tile flooring throughout. The spacious primary suite includes two walk-in closets, vaulted wooden ceilings, an oversized bathroom, fireplace, an attached office, and a private balcony overlooking the courtyard, along with a slight peek-a-boo ocean view. A full bathroom with shower is conveniently located downstairs for coming off the beach, and an outdoor shower adds to the coastal lifestyle. The kitchen is designed with a built-in refrigerator, large island, oversized gas range, and walk-in pantry. Additional highlights include leased solar, multiple fireplaces, and generous lot size allowing for expanded outdoor living and design flexibility. Situated in the heart of the Peninsula, this property is just steps from the sand, surf, and Newport’s vibrant coastal amenities. Welcome Home Indeed.

Nearby schools

9/10
Newport Elementary School
Public,PK-61.8mi
7/10
Horace Ensign Intermediate School
Public,7-82.1mi
7/10
Newport Harbor High School
Public,9-122.3mi

Price History

Date
Event
Price
11/25/25
Listing
$7,300,000
04/22/04
Sold
$2,200,000
06/01/01
Sold
$1,660,000
04/30/01
Sold
$1,500,000
Condition Rating
Poor

Built in 1931, this property is nearly a century old. The listing explicitly states 'incredible potential for remodel or rebuild' and highlights 'Age of Property & Required Updates' as a weakness, noting it 'may require significant investment for modernization or a full rebuild.' While the kitchen features (built-in refrigerator, large island, oversized gas range, walk-in pantry) suggest it was updated at some point, without interior images, it's impossible to confirm its current condition or style. The lack of central air conditioning is a significant functional deficiency for a property in this price range and location. The overall assessment points to a property that requires substantial repairs and rehabilitation to meet modern standards, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Coastal Location: Situated in the heart of the Balboa Peninsula, the property is just steps from the sand, surf, and Newport’s vibrant coastal amenities, offering an unparalleled beach lifestyle.
Rare Double-Lot & Development Potential: A rare double-lot opportunity with a generous 4,900 sqft lot, providing significant flexibility for extensive remodel or a complete rebuild to maximize its value and potential.
Spacious & Character-Rich Interior: Boasting 4,084 square feet of living space in a Spanish Colonial style, featuring unique architectural details like wooden ceilings, crown molding, multiple fireplaces, and a well-appointed primary suite with an attached office.
Exceptional Outdoor Living & Amenities: Includes a large enclosed front courtyard with a patio, built-in BBQ, fireplace, fountain, and landscape lighting, complemented by a downstairs full bathroom and outdoor shower for convenient beach access.
Modern Kitchen & Energy Efficiency: The kitchen is well-equipped with a built-in refrigerator, large island, oversized gas range, and walk-in pantry, further enhanced by leased solar panels for reduced energy costs.

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 = 4900, living area = 4084.
Age of Property & Required Updates: Built in 1931, the property, while charming, may require significant investment for modernization or a full rebuild to meet contemporary luxury standards and address potential maintenance needs.
Limited Ocean Views: Despite its prime coastal location, the property only offers a 'slight peek-a-boo ocean view' from the primary suite, which may not satisfy buyers expecting expansive ocean vistas at this price point.
Lack of Central Air Conditioning: The property description does not mention a cooling system, which could be a significant drawback for comfort during warmer months, especially for a luxury residence in Southern California.

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