
Newport Beach, California 92663
This property presents a High-Potential Investment Opportunity with a List Price of $4,795,000—positioned well below the $5,612,434 Fair Market Value by 14%. This valuation gap offers $817,434 in Instant Equity for buyers. Featuring a 10,660 sqft street-to-street lot and panoramic bay and ocean views, the home maintains a Condition Rating of 3. While the structure invites modernization, its prime Newport Heights location and rare dual-access footprint make it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking significant long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 255 Ocean View Subject | $4,795,000* List Price | 5 | 5 | 3,647 | $1,539 | - |
A 520 Kings Sold | $5,890,000 | 4 | 4 | 4,173 | $1,411 | 0.7 mi |
B 521 Westminster Sold | $5,100,000 | 4 | 5 | 3,577 | $1,426 | 0.4 mi |
C 411 Snug Harbor Road Sold | $5,700,000 | 5 | 5 | 4,470 | $1,275 | 0.6 mi |
D 424 Saint Andrews Road Sold | $3,380,000 | 4 | 2 | 2,301 | $1,469 | 0.5 mi |
E 212 Kings Pl Active | $5,600,000 List Price | 4 | 5 | 4,378 | $1,279 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1965, the property features a modern kitchen renovation with waterfall quartz countertops and high-end stainless steel appliances (likely <10 years old). The home is well-maintained with updated wood flooring and recessed lighting, making it move-in ready, though some areas like the entryway tile and staircase reflect an older renovation style.
Situated in a coveted Newport Heights pocket, the property offers unobstructed views of Catalina, the ocean, and the bay, further enhanced by rare undergrounded utilities.
The expansive 10,660 sqft lot features dual access from Cliff Drive and Ocean View, providing superior privacy and significant potential for expansion or redevelopment.
Priced at $4.795M, the property offers a strong value proposition compared to a neighboring smaller lot that recently sold for $5.175M, suggesting immediate equity potential.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3647, other record living area = 3256. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 7.
Built in 1965, the home likely requires significant modernization or a full renovation to meet the expectations of today's luxury buyers.
The invitation to 'reimagine' the footprint suggests that the current condition may necessitate a substantial additional financial investment beyond the purchase price.
Perched just above Pacific Coast Highway in one of Newport Heights' most coveted pockets, this Ocean View residence sits steps from C'est Si Bon and the Balboa Bay Club. The utilities along this stretch have already been undergrounded, a meaningful upgrade that sets the street apart, and the views stretch across Catalina, the ocean, and the bay. Wood floors run throughout, fireplaces anchor both the main and upper levels, and French doors open from nearly every room, including out to a true French-door patio that pulls the outdoors in. A dramatic spiral staircase serves as the architectural centerpiece, adding a sense of grandeur the moment you walk in. It feels warm, gracious, and unmistakably tied to its setting. Offered with 5 bedrooms, 4.5 bathrooms, and an elevator to all levels, this is a rare street-to-street lot with access from both Cliff Drive and Ocean View. Move in as is, or reimagine and expand on the existing footprint. The opportunity speaks for itself: the neighboring property, on a smaller lot, sold in February 2024 for $5.175M, making this an exceptional value at today's pricing.
No exterior & parking available.
Grades K-6 • 1.0 mi
Grades 7-8 • 0.4 mi
Grades 9-12 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.0 |
| Baths | 5.0 | 4.0 |
| Square foot | 3,647 | 2,868 |
| Lot Size | 10,660 | 6,914 |
| Price | $4.79M | $4.44M |
| Price per sq ft | $1.3K | $1.6K |
| Built year | 1965 | 1970 |
| HOA | $0 | $430 |
| Days on market | 76 | 59 |
May 7, 2026
$4,795,000
Initial Listing