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1811 W Bay Avenue, Newport Beach, California 92663, Newport Beach, 92663 - bed, bath

1811 W Bay Avenue, Newport Beach, California 92663 home-pic-0
ACTIVE$4,200,000
1811 W Bay Avenue, Newport Beach, California 92663
0Bed
0Bath
3,092Sqft
3,250Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Bayfront Location: Directly situated on the tranquil sandy bay beach of picturesque Marina Park, offering unparalleled waterfront access and views in a highly desirable area.
Top Cons:
Age and Condition: Built in 1968 and owned by the same family for over 60 years, indicating the property likely requires significant updates and modernization to meet current market expectations.

Compared to the nearby listings

Price:$4.20M vs avg $3.20M (+$1,000,000)84%
Size:3,092 sqft vs avg 2,440 sqft88%
Price/sqft:$1.4K vs avg $1.5K32%

More Insights

Built in 1968 (57 years old).
Condition: The property was built in 1968, making it over 50 years old. The MLS description explicitly states it has been 'owned by the same family for over 60 years' and is 'ready for your vision,' implying a significant lack of recent updates. The images confirm this, showing severely outdated kitchens with old tiled countertops, dated appliances, and worn cabinets. Bathrooms feature old linoleum-like flooring, dated vanities, and fixtures. Throughout the property, carpets appear worn, and light fixtures are old. The overall aesthetic and condition suggest that the property requires substantial repairs and rehabilitation, including major system updates and a complete modernization of kitchens and bathrooms, aligning with the 'poor' condition criteria.
Year Built
1968
Close
-
List price
$4.2M
Original List price
$4.89M
Price/Sqft
$1,358
HOA
-
Days on market
-
Sold On
-
MLS number
NP24123545
Home ConditionPoor
Features
Excellent View: Bay, Back Bay, City Lights, Harbor, Marina, Water
Deck
Patio
ViewBay,Back Bay,City Lights,Harbor,Marina,Water

About this home

Welcome to 1811 W. Bay Ave, a rare bayfront duplex with a prime location directly in front of the tranquil sandy bay beach of picturesque Marina Park. This 6-bedroom, 4-bathroom property offers approximately 3,000 square feet of living space and includes a 4-car garage, presenting an incredible opportunity to create your ideal bayfront dream. Owned by the same family for over 60 years, this property is ready for your vision. Options abound: Investors: Rent out the existing two 3-bedroom, 2-bath units to maximize income, with combined rents approximated at $15,000/month in its current condition and with a little refresh, much more. Homeowners: Live in one unit and rent out the other, or transform the property into your very own bayfront home with additional income. Developers: Explore a condo conversion opportunity to create two separate residences. Short-term lodging is permissible (subject to permitting), adding flexibility to your investment. For those considering a 1031 exchange, this is an ideal candidate. BONUS OPPORTUNITY: The neighboring duplex at 1809 W. Bay is also available for sale, offering an exceptionally rare chance to own two side-by-side bayfront properties. Don’t miss this unique chance to secure a premier bayfront location with unlimited potential. Your coastal dream awaits!

Condition Rating
Poor
The property was built in 1968, making it over 50 years old. The MLS description explicitly states it has been 'owned by the same family for over 60 years' and is 'ready for your vision,' implying a significant lack of recent updates. The images confirm this, showing severely outdated kitchens with old tiled countertops, dated appliances, and worn cabinets. Bathrooms feature old linoleum-like flooring, dated vanities, and fixtures. Throughout the property, carpets appear worn, and light fixtures are old. The overall aesthetic and condition suggest that the property requires substantial repairs and rehabilitation, including major system updates and a complete modernization of kitchens and bathrooms, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Prime Bayfront Location: Directly situated on the tranquil sandy bay beach of picturesque Marina Park, offering unparalleled waterfront access and views in a highly desirable area.
Income-Generating Duplex: Configured as two 3-bedroom, 2-bathroom units, providing significant rental income potential, estimated at $15,000/month with a refresh.
Versatile Investment Potential: Offers multiple avenues for value creation, suitable for investors, owner-occupants seeking supplemental income, or developers for potential condo conversion.
Short-Term Rental Eligibility: Permissible for short-term lodging (subject to permitting), enhancing income flexibility and broadening its appeal to various investment strategies.
Development/Expansion Opportunity: The rare availability of the adjacent duplex at 1809 W. Bay presents a unique chance for a larger-scale development or combined ownership.

Cons

Age and Condition: Built in 1968 and owned by the same family for over 60 years, indicating the property likely requires significant updates and modernization to meet current market expectations.
Significant Capital Investment Required: The description implies the property is 'ready for your vision' and needs a 'refresh,' suggesting substantial renovation costs for buyers to realize its full potential and maximize returns.
Recent Price Reduction: The list price has been reduced from an original $4.895M to $4.2M, which could signal initial overpricing or market resistance, potentially impacting perceived value or future appreciation.

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