2202 W Oceanfront, Newport Beach, California 92663, Newport Beach, 92663 - 5 bed, 5 bath
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Newport Beach, California 92663
This oceanfront Prime Investment Opportunity is listed at $5,990,000, positioned well below the $6,161,987 Fair Market Value by 2%. This valuation gap offers $171,987 in Instant Equity. Featuring a Mint Condition Rating following a comprehensive renovation, this Quadruplex includes approved short-term rental permits and a four-car garage. With Panoramic Ocean Views and proximity to Top-Rated Schools like Newport Elementary, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield coastal lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2202 W Oceanfront Subject | $5,990,000* List Price | 5 | 5 | 3,400 | $1,812 | - |
A 2212 W Oceanfront Active | $5,795,000 List Price | 5 | 5 | 3,002 | $1,930 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1961, the property has undergone a high-end, comprehensive renovation within the last 5 years. Interior photos show modern wide-plank flooring, updated bathrooms with quartz countertops and shaker cabinetry, and contemporary fixtures throughout, indicating mint condition with no immediate maintenance required.
Elementary School: Newport Elementary School (9/10).
Situated directly on the sand with panoramic views of Catalina Island and the Newport Pier, this property offers unparalleled coastal access in the heart of Newport Beach.
The inclusion of approved short-term rental permits for all four units provides a rare and lucrative opportunity for investors to maximize yield in a high-demand tourist destination.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =3049, other record lot size in square feet = 3109. Living area discrepancy between mls listing and other public or private record. mls listing living area = 3400, other record living area = 2640.
Built in 1961, the property may require substantial capital investment for modernization and ongoing maintenance typical of older oceanfront structures exposed to salt air.
A recent $1 million price reduction within the first month of listing suggests the property was initially overvalued or is facing resistance in the current high-end multi-family market.
Experience coastal living at its finest, this rare Oceanfront Four-Plex is in the Heart of Newport Beach. This exceptional multi-family property offers four distinct units with strong income potential, including approved short-term rental permits—perfect for investors, vacation rental operators, or those seeking flexible beachside living. Built in 1961 and situated on a prime lot, the property features approximately 3,400 square feet of living space across its units, with 4 car garages for convenient parking and storage. Unit Breakdown: • Unit A: Spacious 2-bed / 2-bath — ideal for longer-term tenants or families. • Units B & C: Cozy 1 bed / 1 bath each — perfect for singles, couples, or short-term guests. • Unit D: Unique 1-bed; *PLUS Loft / 1-bath — offering extra character and appeal. The property’s standout location places residents just a short walk from the sand, surf, and the iconic Newport Pier. Wake up to ocean breezes, panoramic views toward Catalina Island, and endless coastal charm right outside your door. Prime Location & Lifestyle Amenities: Newport Beach delivers world-class coastal living with more than eight miles of beaches, from soft sands perfect for sunbathing and swimming to legendary surf spots. Stroll to the Newport Pier for fishing, people-watching, the Dory Fleet Fish Market, or casual seaside dining. Nearby highlights include: • Balboa Peninsula & Balboa Pier — with the Fun Zone amusement park, Ferris wheel, arcade, and ferry rides to Balboa Island. • Balboa Island — charming shops, waterfront eateries, and iconic frozen bananas. • Fashion Island — upscale shopping, dining, and entertainment just minutes away. • Crystal Cove State Park and Corona del Mar State Beach — for scenic hikes, tide pools, and more pristine coastline. • Upper Newport Bay Nature Preserve — offering kayaking, birdwatching, and trails. • Abundant water activities: sailing, paddleboarding, whale watching, surfing lessons, and yacht charters in the harbor. This oceanfront four-plex combines timeless beach appeal with modern investment versatility. Whether generating income through short-term rentals or enjoying the units personally, it’s a gateway to the relaxed yet vibrant Newport Beach lifestyle. Don’t miss this opportunity to own a piece of Southern California paradise!
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades PK-6 • 0.6 mi
Grades 7-8 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 5.0 |
| Baths | 5.0 | 4.0 |
| Square foot | 3,400 | 2,174.5 |
| Lot Size | 3,049 | 2,614 |
| Price | $5.99M | $3.35M |
| Price per sq ft | $1.8K | $1.7K |
| Built year | 1961 | 1964 |
| HOA | $0 | $0 |
| Days on market | 72 | 125 |
May 22, 2026
$5,990,000
$6,990,000
-14% Price Drop
Initial Listing
May 11, 2026
$6,990,000
Initial Listing
Aug 4, 2021
$4,100,000
Public Record
May 8, 2015
$3,450,000
Public Record