2050 E Ocean, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 2 bath
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Newport Beach, California 92661
This property presents a High-Potential Investment Opportunity with a List Price of $3,800,000—positioned well above the $3,244,928 Fair Market Value by -17%. Featuring a Condition Rating of 5, this 1926-built residence is a prime candidate for a total remodel or new build. Located in the prestigious Balboa Peninsula Point, the asset offers a Peek-A-Boo Ocean View and proximity to Newport Elementary School (9/10). This is an ideal acquisition for Value-Add Investors or Custom Home Builders seeking to maximize luxury potential in a premier coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2050 E Ocean Subject | $3,800,000* List Price | 3 | 2 | 1,633 | $1,987 | - |
A 1537 E Ocean Boulevard Sold | $3,400,000 | 4 | 3 | 1,757 | $1,935 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1926, this 98-year-old home is marketed primarily as a 'remodel or new build' opportunity, indicating the interior and structure likely require a total rehab. While the HVAC and water heater are recently updated, the extreme age and the listing's emphasis on redevelopment suggest it is near the end of its functional life in its current state.
Elementary School: Newport Elementary School (9/10).
Situated in the highly coveted Balboa Peninsula Point neighborhood, the property is just one block from the beach and within walking distance to the world-famous Wedge and Balboa Pier.
As the lowest-priced single-family residence currently available on the Peninsula Point, this property represents a rare and accessible entry point into one of Newport Beach's most exclusive markets.
Originally built in 1926, the home likely requires substantial modernization or a complete rebuild to meet contemporary luxury standards and fully capitalize on its prime location.
With a lot size of approximately 2,625 square feet, the property offers limited outdoor space and poses constraints on the footprint for potential expansion or new construction.
Lowest priced single-family residence on the Peninsula Point! Exceptional opportunity to own a Newport Beach coastal property in the highly coveted Balboa Peninsula Point neighborhood. Located on a charming, tree-lined street just a block from the sand, this 2-story home features 3 bedrooms, 2 bathrooms and an attached 2-car garage. From the roof-top deck, enjoy the Southern California sun, coastal breeze and a peek-a-boo ocean view. Recent upgrades include a new A/C, furnace and tankless water heater. This highly sought after neighborhood is just blocks from the world-renown Wedge and the quaint Balboa Pier. Don’t miss this amazing opportunity to customize this home with a remodel or new build that offers the iconic Newport Beach lifestyle.
No exterior & parking available.
Grades PK-6 • 2.1 mi
Grades 7-8 • 2.3 mi
Grades 9-12 • 2.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 39% |
| Baths | 2.0 | 4.0 | 22% |
| Square foot | 1,633 | 2,630 | 17% |
| Lot Size | 2,625 | 2,625 | 50% |
| Price | $3.80M | $5.70M | 30% |
| Price per sq ft | $2.3K | $2.3K | 50% |
| Built year | 1926 | 1977 | 4% |
| HOA | $0 | $0 | 50% |
| Days on market | 21 | 150 | 4% |
May 16, 2026
$3,800,000
Initial Listing
Jul 23, 2012
$1,350,000
Public Record
Apr 23, 2007
$1,800,000
Public Record
May 7, 2004
$1,375,000
Public Record