24 Narbonne, Newport Beach, California 92660, Newport Beach, 92660 - 4 bed, 5 bath
ACTIVE$4,780,000$4,627/sqft
Est. Value: $4,958,264
3%
BelowEstimate
24 Narbonne, Newport Beach, California 92660
4Beds
5Baths
4,627Sqft
13,068Lot
Price Vs. Estimate
The estimated value ($4,958,263.96) is $178,263.96 (3%) higher than the list price ($4,780,000). This property may be underpriced.
Key pros and cons
Top Pros:
Permit-Ready Development Opportunity: Includes approved plans for a nearly 6,000 sq. ft. luxury residence, significantly streamlining the custom build process and saving considerable time.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =13068, other record lot size in square feet = 11893.
Compared to the nearby listings
Price:$4.78M vs avg $3.84M (+$942,000)65%
Size:4,627 sqft vs avg 2,664 sqft85%
Price/sqft:$1.0K vs avg $1.4K17%
More Insights
Built in 1980 (46 years old).
Condition: The property, built in 1980, is explicitly marketed as a development opportunity with 'permit ready plans' for a new luxury residence. The listing description and property analysis clearly state that the existing 1980-built home 'implies a need for demolition or extensive renovation,' indicating its value is primarily in the land and its potential for redevelopment. The provided images are architectural renderings of the proposed new home and community amenities, not the current structure, further confirming that the existing home is not the primary asset being sold.
Year Built
1980
Close
-
List price
$4.78M
Original List price
$4.78M
Price/Sqft
$1,033
HOA
$385
Days on market
-
Sold On
-
MLS number
WS26005717
Home ConditionTear down
Features
Excellent View: City Lights
ViewCity Lights
About this home
With permit ready plans, you can start to build a nearly 6,000 sq. ft. luxury residence in Newport Beach! This home would have four bedrooms with en suite bathrooms, two kitchens, a home theater, and multipanel glass doors seamlessly bridging the activity room with a swimming pool and BBQ area. A well-designed rooftop deck that offers stunning ocean, harbor, and city views. Located at the end of a quiet cul-de-sac in the prestigious 24/7 guard-gated Harbor Ridge community, this 13,068 sq. ft. lot offers unmatched privacy and proximity to beaches, world-class dining, and top-rated schools.
B
BIN LIU
Listing Agent
Price History
Date
Event
Price
03/29/22
Sold
$3,988,000
12/24/14
Sold
$2,600,000
Condition Rating
Tear down
The property, built in 1980, is explicitly marketed as a development opportunity with 'permit ready plans' for a new luxury residence. The listing description and property analysis clearly state that the existing 1980-built home 'implies a need for demolition or extensive renovation,' indicating its value is primarily in the land and its potential for redevelopment. The provided images are architectural renderings of the proposed new home and community amenities, not the current structure, further confirming that the existing home is not the primary asset being sold.
Pros & Cons
Pros
Permit-Ready Development Opportunity: Includes approved plans for a nearly 6,000 sq. ft. luxury residence, significantly streamlining the custom build process and saving considerable time.
Exclusive Guard-Gated Community: Located within the prestigious 24/7 guard-gated Harbor Ridge, offering unparalleled security, privacy, and an elite lifestyle.
Prime Newport Beach Location: Situated at the end of a quiet cul-de-sac with excellent proximity to world-class beaches, dining, and top-rated schools.
Panoramic View Potential: Designed to maximize stunning ocean, harbor, and city light views from a planned rooftop deck, enhancing future value and appeal.
Expansive Lot Size: A generous 13,068 sq. ft. lot provides ample space for a custom luxury home, extensive outdoor amenities, and privacy.
Cons
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =13068, other record lot size in square feet = 11893.
Substantial Additional Investment Required: The property is presented as a development opportunity, necessitating significant capital outlay beyond the purchase price for new construction.
Recurring Association Fees: Buyers will incur a monthly association fee of $385, which is an additional ongoing cost of ownership.
Existing Structure's Age/Condition: The current 1980-built home implies a need for demolition or extensive renovation, contributing to project complexity and overall cost.