
Newport Beach, California 92661
This High-Potential Investment Opportunity is a shovel-ready homesite listed at $3,998,000, positioned well below the $4,139,127 Fair Market Value by 3%. This valuation gap offers $141,127 in Instant Equity. Featuring fully approved plans for a 3,052 sqft luxury residence with rooftop terraces and an elevator, the property carries a Condition Rating of 2. Located in the Newport Mesa Unified district near Newport Elementary (9/10), this is an ideal acquisition for Custom Home Builders or Owner-Occupants seeking a premium coastal lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1589 E Ocean Boulevard Subject | $3,998,000* List Price | 4 | 5 | 3,052 | $1,356 | - |
A 1585 Miramar Sold | $4,050,000 | 4 | 3 | 2,630 | $1,540 | 0.0 mi |
B 1743 Miramar Active | $4,150,000 List Price | 4 | 5 | 3,017 | $1,376 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This is a brand-new construction project with a 2026 build date. As a new luxury residence, it features mint condition finishes, modern coastal architecture, and state-of-the-art HVAC and electrical systems with no maintenance required.
Elementary School: Newport Elementary School (9/10).
The property is delivered with fully approved plans and entitlements, allowing the buyer to bypass the lengthy and complex Newport Beach planning process and begin construction immediately.
Situated just one door from the sand in the highly coveted Balboa Peninsula neighborhood, this location offers an elite coastal lifestyle with immediate beach access.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3052, other record living area = 1664. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2450, living area = 3052.
The property was recently sold within the past year on 2025-10-14. The sold price is $3,200,000.00.
A rare opportunity to create a brand-new coastal-inspired luxury residence in one of Newport Beach's most desirable neighborhoods. Being delivered with fully approved plans, this premier homesite offering - located one door from the sand - allows the next owner to immediately begin construction, eliminating the time and uncertainty often associated with the planning and entitlement process. The approved plans showcase a thoughtfully designed four-bedroom, four-and-one-half-bath residence that blends timeless coastal architecture with sophisticated modern living. Conceived to maximize natural light, comfort, and seamless indoor-outdoor flow, the proposed home offers expansive living and entertaining spaces on three levels. The design is highlighted by a versatile third-floor bonus room and spectacular covered and uncovered rooftop terraces that create an extraordinary setting for sunset gatherings, coastal breezes, and year-round outdoor enjoyment. Additional features include an elevator, a two-car garage, dedicated golf cart parking, and carefully curated spaces that reflect the relaxed yet elevated lifestyle synonymous with Newport Beach. Whether envisioned as a primary residence or coastal retreat, this offering represents a unique opportunity to build a distinctive new construction home with a fully vetted design already in place—allowing the buyer to focus on the excitement of creating an exceptional customized residence in one of Newport Beach's most coveted beachside communities.
No exterior & parking available.
Grades PK-6 • 1.8 mi
Grades 7-8 • 2.1 mi
Grades 9-12 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 5.0 | 4.0 |
| Square foot | 3,052 | 2,868 |
| Lot Size | 2,450 | 6,914 |
| Price | $4.00M | $4.44M |
| Price per sq ft | $1.3K | $1.6K |
| Built year | 2026 | 1970 |
| HOA | $0 | $430 |
| Days on market | 13 | 59 |
Jul 9, 2026
$3,998,000
Initial Listing
Oct 14, 2025
$3,200,000
Public Record