
Newport Beach, California 92661
This property presents a High-Potential Investment Opportunity with a List Price of $3,750,000—positioned well below the $3,748,541 Fair Market Value by 0%. While the home maintains a Condition Rating of 5, its prime location in Peninsula Point and 2,625-square-foot lot offer significant upside for a custom rebuild. Featuring a second-floor casita and proximity to Newport Elementary (9/10), this asset provides rare development flexibility. It is an ideal acquisition for Luxury Developers or Owner-Occupants seeking to create a bespoke coastal residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2012 E Ocean Boulevard Subject | $3,750,000* List Price | 4 | 3 | 1,643 | $2,282 | - |
A 2050 E Ocean Active | $3,800,000 List Price | 3 | 2 | 1,633 | $2,327 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1955 (69 years old) with no significant renovations mentioned. The listing describes the home as a 'canvas' for a 'new concept' and 'full of possibilities,' indicating that the kitchen, baths, and systems are likely original or severely dated and require a total rehab to meet modern standards.
Elementary School: Newport Elementary School (9/10).
Situated just one block from the sand in the prestigious Balboa Peninsula Point, the property offers unparalleled access to the beach, the Wedge, and the Newport Bay.
The 35-foot-wide lot and 'blank canvas' nature of the 1955 structure provide a rare opportunity for a custom luxury rebuild or a significant architectural reimagining in a high-value area.
As an original 1955 residence marketed for its potential, the home likely requires a substantial capital investment to modernize its systems and finishes to current luxury standards.
With a list price of $3.75 million for a 1,643-square-foot vintage home, the pricing is heavily weighted toward the land, making it a high-cost acquisition for developers or end-users.
Charming, full of possibilities, and just steps from the sand, 2012 E Ocean Boulevard presents a rare opportunity to create a distinctly personal coastal retreat in one of Newport Beach’s most treasured settings. Set on a prime 35-foot-wide x 75-foot-deep, 2,625-square-foot lot in Peninsula Point, this classic 1955 residence is zoned for a single-family residence and offers approximately 1,643 square feet with four bedrooms and three baths, including a second-floor casita with separate entrance, capturing the relaxed character and timeless appeal of life by the sea. With its inviting coastal charm and exceptional location, the home is perfect as a beach bungalow getaway or offers an exciting canvas for its next chapter. Thoughtfully refine the existing residence, reimagine its interiors to suit your own aesthetic, or explore the possibilities of an entirely new concept at this coveted Peninsula address. Just moments from the beach, the Bay, the Balboa Fun Zone, and the famed Wedge, the property places morning walks along the shoreline, sun-soaked afternoons, and the effortless rhythm of Newport Beach living practically at your doorstep. Opportunities to pair this much character, potential, and proximity to the ocean are increasingly rare. For those with an eye for design and a vision for what could be, 2012 E Ocean Boulevard is an enchanting opportunity to make a piece of the Peninsula entirely your own.
No exterior & parking available.
Grades PK-6 • 2.0 mi
Grades 7-8 • 2.3 mi
Grades 9-12 • 2.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.8 |
| Square foot | 1,643 | 2,729.518 |
| Lot Size | 2,625 | 6,677.813 |
| Price | $3.75M | $4.20M |
| Price per sq ft | $2.3K | $1.6K |
| Built year | 1955 | 1972 |
| HOA | $0 | $414 |
| Days on market | 12 | 63 |
Aug 28, 2026
$3,750,000
Initial Listing
May 25, 2006
$400,000
Public Record