
Newport Beach, California 92660
This Versatile Three-Story Residence presents a Prime Investment Opportunity with a List Price of $3,295,000—positioned well below the $3,375,019 Fair Market Value by 2%. This valuation gap offers $80,019 in Instant Equity. Featuring a Condition Rating of 4, the home offers significant upside through cosmetic updates. With 5 bedrooms, dual 2-car garages, and sweeping views, it is an ideal Buy-and-Hold Investor asset or a spacious home for Owner-Occupants seeking top-tier schools like Eastbluff Elementary.
Property is moderate renovation needed.
Originally built in 1963 with a substantial renovation/addition that appears to be 20-30 years old. While the home is functional and offers significant square footage, the interior finishes—including oak cabinetry, older tile flooring, red carpeting, and dated jetted tubs—require comprehensive cosmetic updates to meet modern luxury standards.
Elementary School: Eastbluff Elementary School (9/10). High School: Corona Del Mar High School (9/10).
The unique three-story floor plan with a dedicated penthouse retreat and 5.5 bathrooms offers exceptional flexibility for multigenerational families, work-from-home setups, or potential rental income.
Rare for the area, the property features two separate 2-car garages and an oversized driveway suitable for RV parking, providing significant value for car enthusiasts and hobbyists.
The three-story configuration may be a deterrent for buyers seeking single-level living or those with mobility concerns, as it necessitates frequent stair use.
Built in 1963, the residence may require more intensive maintenance or system updates compared to newer luxury developments in the Newport Beach market.
Situated on a prominent corner lot in one of Orange County’s most connected locations, this thoughtfully designed three-story residence offers exceptional flexibility, privacy, and income potential in the heart of Newport Beach. Spanning approximately 3,904 square feet, the home features 5 bedrooms and 5.5 bathrooms, carefully designed to accommodate multigenerational living, guest privacy, work-from-home lifestyles, or potential rental opportunities. At the top of the home, a third-story penthouse retreat captures sweeping views and offers the perfect private suite. Throughout the home, thoughtful details elevate everyday living, including five jetted bathtubs for a true spa-like experience and abundant storage space rarely found in today’s homes. Car enthusiasts, hobbyists, and adventurers alike will appreciate the two separate 2-car garages, including a detached garage structure with an oversized driveway suitable for RV parking, additional vehicles, or flexible use potential. Ideally located in the heart of Orange County, the property places Newport Beach, Irvine, Costa Mesa, and Tustin just moments away. Enjoy close proximity to world-class shopping and dining at Fashion Island and South Coast Plaza, cultural attractions including South Coast Repertory, recreation at Newport Beach Golf Course and Santa Ana Country Club, nearby beaches, the Orange County Fairgrounds, John Wayne Airport, and convenient access to the 405, 5, 55, and 73 freeways. A rare opportunity combining size, versatility, location, and long-term potential in a highly sought-after coastal-adjacent setting. A home designed not only for how life looks today — but for all the ways it may evolve tomorrow.
No exterior & parking available.
Grades K-6 • 1.5 mi
Grades 3-6 • 1.7 mi
Grades PK-2 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 75% |
| Baths | 6.0 | 3.5 | 85% |
| Square foot | 3,905 | 2,724.5 | 75% |
| Lot Size | 7,300 | 7,500 | 45% |
| Price | $3.29M | $4.14M | 32% |
| Price per sq ft | $844 | $1.5K | 3% |
| Built year | 1963 | 1970 | 18% |
| HOA | $0 | $375 | 31% |
| Days on market | 18 | 138 | 4% |
May 29, 2026
$3,295,000
Initial Listing
Aug 24, 2001
$408,000
Public Record