215 Opal, Newport Beach, California 92662, Newport Beach, 92662 - 3 bed, 4 bath
215 Opal
Newport Beach, California 92662
Property Price
SUMMARY
Analysis of 215 Opal, Newport Beach, California 92662 reveals a Prime Investment Opportunity with a current list price of $3,790,000—significantly undercutting the $4,048,666 Fair Market Value by 6%. This valuation gap indicates a +$258,666 Instant Equity potential for buyers. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Newport Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 215 Opal Subject | $3,790,000* List Price | 3 | 4 | 2,226 | $1,819 | - |
A 220 Apolena Avenue Sold | $3,550,000 | 4 | 4 | 2,021 | $1,757 | 0.3 mi |
B 316 Diamond Avenue Sold | $4,225,000 | 3 | 4 | 2,078 | $2,033 | 0.2 mi |
C 121 Onyx Avenue Sold | $3,400,000 | 3 | 3 | 1,975 | $1,722 | 0.3 mi |
D 117 117 Abalone Sold | $3,500,000 | 4 | 3 | 1,611 | $2,173 | 0.5 mi |
E 308 Coral Avenue Sold | $2,884,000 | 3 | 2 | 1,390 | $2,075 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property is exceptionally well-maintained and move-in ready with fresh paint and new carpet; however, it retains most of its original 1980s character. The kitchen and bathrooms feature dated tile countertops, older cabinetry, and white appliances that show their age. While functional and charming, the home lacks the modern luxury finishes and system updates expected at this price point, fitting the criteria for a property built over 40 years ago with no major recent renovations to core areas.
PROSSTRENGTHS & OPPORTUNITIES
- Dual-Living Potential
The property includes a separate upper rear apartment with its own entrance, providing excellent versatility for rental income, a private guest suite, or multi-generational living arrangements.
- Architectural Character
This 'storybook' cottage features unique timeless details such as stained and leaded glass windows, beamed ceilings, and high-volume spaces that offer a charming, nostalgic aesthetic rare in newer constructions.
- Superior Island Parking
Equipped with a large 2-car garage and ample additional storage, the home addresses one of Balboa Island's most significant challenges: the extreme scarcity of off-street parking.
CONSRISKS & DEFICIENCIES
- Low Available Lot Utilization
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2550, living area = 2226.
- Lack of Views
Despite the premium multi-million dollar price point in a coastal community, the property offers no ocean or bay views, which may limit its competitive appeal compared to nearby waterfront listings.
- Dated Infrastructure
Built in 1980, the home likely requires significant modernization of its core systems and interior finishes to meet the expectations of contemporary luxury buyers seeking turn-key properties.
About 215 Opal
Quintessential Balboa Island Storybook Home with Separate Rear Apartment. Charming mid-Island cottage spanning over 2,200 square feet with high ceilings, stained and leaded glass windows, abundant storage, and a warm, inviting vibe. The first level features a large living room with fireplace and beamed ceilings, separate light-filled dining room, spacious kitchen with eating bar, and a private den with brick fireplace and bath. The second level showcases two generous bedrooms, each with bath, and one featuring an awesome elevated loft. The separate upper rear apartment can be entered through the home or via an outside doorway and offers a kitchen/living space, bedroom, and full bath. Additional amenities include fresh paint, new carpet, and a large 2-car garage with ample additional storage. Don’t miss this gracious, gorgeous home with exceptional timeless details and nostalgic appeal.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1980
- Lot Size
- 2,550 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 4.0 | 3.0 | 59% |
| Square foot | 2,226 | 2,152 | 50% |
| Lot Size | 2,550 | 2,550 | 50% |
| Price | $3.79M | $4.01M | 50% |
| Price per sq ft | $1.7K | $2.3K | 9% |
| Built year | 1980 | 1959 | 68% |
| HOA | $0 | $0 | 50% |
| Days on market | 4 | 195 | 5% |
Pricing History
Listed for Sale
Mar 3, 2026
$3,790,000
Initial Listing