3012 W Oceanfront, Newport Beach, California 92663, Newport Beach, 92663 - 4 bed, 3 bath

3012 W Oceanfront, Newport Beach, California 92663 home-pic-0
ACTIVE$7,750,000
3012 W Oceanfront, Newport Beach, California 92663
4Beds
3Baths
1,924Sqft
2,178Lot

Price Vs. Estimate

The estimated value ($5,593,103.92) is $2,156,896.08 (27%) lower than the list price ($7,750,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Elementary School: Newport Elementary School (9/10).
Top Cons:
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 = 2178, living area = 1924.

Compared to the nearby listings

Price:$7.75M vs avg $4.45M (+$3,300,000)88%
Size:1,924 sqft vs avg 2,431 sqft26%
Price/sqft:$4.0K vs avg $1.8K95%

More Insights

Built in 1975 (50 years old).
Condition: Built in 1975, this duplex has undergone extensive remodeling and upgrading, making it move-in ready. The first-level unit features a recently reimagined, modern kitchen with white Shaker cabinetry, quartz countertops, and stainless steel appliances, along with a chic ensuite bath. The upper unit boasts updated kitchens with custom wood cabinets and stainless appliances, luxurious baths with travertine floors, and vaulted ceilings. Both units benefit from upgraded dual-pane windows and sliding glass doors. While the property is well-maintained and cosmetically updated, the original build year of 1975 and the noted lack of central air conditioning prevent it from achieving an 'Excellent' rating. The upper unit's kitchen, while updated, presents a slightly more traditional style compared to the lower unit's contemporary design.
Year Built
1975
Close
-
List price
$7.75M
Original List price
$7.75M
Price/Sqft
$4,028
HOA
-
Days on market
-
Sold On
-
MLS number
OC25077196
Home ConditionGood
Features
Excellent View: Catalina, Ocean
Deck
Patio
ViewCatalina, Ocean

About this home

Live in one and rent the other? Lease them both for outstanding income potential? Or transform them into a large private compound? The choice is yours at this front-row oceanfront duplex in Newport Beach. Unobstructed views sweep across the Pacific Ocean and embrace the Newport Pier, romantic sunsets over Catalina Island, and evening lights along the coast as far north as Palos Verdes. Remodeled and upgraded, the duplex presents a total of four bedrooms and three baths in approximately 1,924 square feet and includes an outdoor after-beach shower, two carport spaces and one enclosed garage space. Featuring one bedroom and one bath, the first-level residence is fresh and modern, with a host of desirable appointments, and seamless living areas opening to a large beach-front patio. An updated fireplace surrounded by fashionable tile lends style to the living and dining rooms, while the recently reimagined kitchen shines with quartz countertops, white Shaker cabinetry with glass uppers, a full tile backsplash, and stainless steel appliances. The primary suite features a private ocean-view atrium and a chic ensuite bath with quartz countertop and a sliding glass door to the shower. Three bedrooms, including one with a third-level loft, await in the upper unit, which showcases two luxurious baths, vaulted ceilings, travertine floors, and a large resurfaced ocean-view deck with glass railing. A peninsula bar opens to the dining room from a kitchen with custom wood cabinets and stainless appliances, and the living room displays a handsome fireplace. Custom built-in wardrobes in the primary suite and one secondary bedroom are detailed with translucent glass doors and contemporary wood drawers. Both units offer the advantages of upgraded dual-pane windows and sliding glass doors. Located at the top of the Balboa Peninsula, this turnkey duplex is enviably set near the Balboa Fun Zone, Balboa Island, Fashion Island’s high-end shops and restaurants, Lido Marina Village, beach-front bike paths, and the neighboring communities of Corona del Mar, Newport Coast and Crystal Cove.

Nearby schools

8/10
Newport Heights Elementary School
Public,K-60.8mi
9/10
Newport Elementary School
Public,PK-60.9mi
7/10
Horace Ensign Intermediate School
Public,7-81.0mi
7/10
Newport Harbor High School
Public,9-121.3mi
Condition Rating
Good

Built in 1975, this duplex has undergone extensive remodeling and upgrading, making it move-in ready. The first-level unit features a recently reimagined, modern kitchen with white Shaker cabinetry, quartz countertops, and stainless steel appliances, along with a chic ensuite bath. The upper unit boasts updated kitchens with custom wood cabinets and stainless appliances, luxurious baths with travertine floors, and vaulted ceilings. Both units benefit from upgraded dual-pane windows and sliding glass doors. While the property is well-maintained and cosmetically updated, the original build year of 1975 and the noted lack of central air conditioning prevent it from achieving an 'Excellent' rating. The upper unit's kitchen, while updated, presents a slightly more traditional style compared to the lower unit's contemporary design.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Oceanfront Location: This front-row oceanfront duplex is ideally situated on the Balboa Peninsula, offering direct beach access and an unparalleled coastal lifestyle.
Versatile Income Potential: The duplex configuration provides exceptional flexibility for owners, allowing for living in one unit and renting the other, leasing both for income, or converting into a large private compound.
Unobstructed Panoramic Views: Enjoy breathtaking, unobstructed views of the Pacific Ocean, Newport Pier, Catalina Island sunsets, and evening city lights stretching to Palos Verdes.
Extensively Remodeled & Upgraded: Both units have been remodeled and upgraded, featuring modern kitchens with quartz countertops and stainless steel appliances, updated baths, and upgraded dual-pane windows and sliding glass doors.
Desirable Local Amenities: The property is enviably located near the Balboa Fun Zone, Balboa Island, Fashion Island, Lido Marina Village, and beach-front bike paths, offering a wealth of entertainment, dining, and shopping options.

Cons

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 = 2178, living area = 1924.
Significant Price Discrepancy: The current list price is 27% above the estimated property value, which may present a challenge in attracting buyers at the current asking price.
Lack of Central Air Conditioning: The property description does not mention a cooling system, which could be a notable drawback for comfort during warmer periods, especially for a luxury residence.
Age of Original Construction: Built in 1975, the property's original structure is nearly 50 years old. While cosmetically upgraded, potential buyers may have concerns regarding the age of underlying systems or desire more extensive modernizations.

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