207 38th Street, Newport Beach, California 92663, Newport Beach, 92663 - 0 bed, 0 bath
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Newport Beach, California 92663
This Coastal Development Opportunity represents a strategic asset in a premier Newport Beach corridor, listed at $2,325,000—a valuation anchored by land scarcity despite the $1,909,040 Fair Market Value model. Given the property's Condition Rating of 6, value lies in the ±2,375 square foot lot. Featuring a private patio steps from the sand near the 9/10 rated Newport Elementary School, the site offers significant upside for a custom residence or luxury duplex. This high-reward acquisition is perfectly suited for Real Estate Developers or Luxury Home Builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 207 38th Street Subject | $2,325,000* List Price | 0 | 0 | 1,000 | $1,909 | - |
A 522 Clubhouse Sold | $2,160,000 | 0 | 0 | 1,167 | $1,851 | 0.3 mi |
B 304 33rd Street Active Under Contract | $2,200,000 List Price | 3 | 3 | 1,100 | $2,000 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1952 (>70 years old) with no mention of renovations; the listing explicitly markets the property for its redevelopment potential and land value, suggesting the existing structure is at the end of its economic life.
Elementary School: Newport Elementary School (9/10).
Situated just steps from the beach in a highly sought-after Newport Beach neighborhood, this property offers exceptional lifestyle appeal and strong long-term appreciation potential.
The lot provides a rare opportunity to redevelop the site into a luxury custom residence or high-end multifamily property, capitalizing on the high underlying land value.
Built in 1952, the existing improvements are likely near the end of their effective life, requiring substantial capital expenditure for modernization or a complete teardown.
The list price of $2,325,000 for only 1,000 square of living space represents a very high cost-per-square-foot, making the investment heavily dependent on future development success rather than current rental yields.
Pleased to present 207 38th Street, a rare coastal investment opportunity located just steps from the beach in one of Newport Beach’s most sought-after neighborhoods. Situated on a ±2,375 square foot lot, the property offers a unique combination of in-place income and significant upside potential, making it well-suited for investors, developers, or owner-users. The property consists of two 1-bedroom, 1-bathroom units, each approximately ±500 square feet. The front unit is currently vacant, providing immediate flexibility for renovation or occupancy, while the rear unit is leased on a month-to-month basis, allowing for optionality in repositioning or redevelopment timing. Built in 1952, the existing improvements present an opportunity for a buyer to execute a comprehensive renovation program to create high-end coastal rentals, or to redevelop the site into a new custom residence or luxury multifamily property, subject to city approvals. With its premier beach-close location, walkability to local amenities, and strong underlying land value, 207 38th Street represents a compelling opportunity to capitalize on one of the most desirable coastal markets in Southern California.
No exterior & parking available.
Grades K-6 • 1.1 mi
Grades PK-6 • 1.2 mi
Grades 7-8 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 4.0 | 47% |
| Baths | 0.0 | 3.0 | 47% |
| Square foot | 1,000 | 2,461 | 6% |
| Lot Size | 2,375 | 2,701 | 24% |
| Price | $2.33M | $3.30M | 12% |
| Price per sq ft | $2.3K | $1.7K | 76% |
| Built year | 1952 | 1956 | 24% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 178 | 6% |
Apr 16, 2026
$2,325,000
Initial Listing