306 E Oceanfront, Newport Beach, California 92661, Newport Beach, 92661 - 4 bed, 5 bath
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Newport Beach, California 92661
This Ground-Up Oceanfront Residence represents a High-Potential Investment Opportunity, listed at $6,850,000—positioned above the $6,665,392 Fair Market Value. While priced at a premium, the property offers a rare, shovel-ready development on the Balboa Peninsula boardwalk. Featuring unobstructed panoramic ocean views, a private rooftop deck, and a versatile JADU, this project is in Mint Condition upon its Q1 2027 completion. It is an ideal acquisition for Luxury Real Estate Investors or Owner-Occupants seeking a bespoke, high-pedigree coastal sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 306 E Oceanfront Subject | $6,850,000* List Price | 4 | 5 | 2,520 | $2,699 | - |
A 318 Coronado Street Sold | $6,415,000 | 3 | 5 | 2,565 | $2,501 | 0.1 mi |
B 1414 W Oceanfront Sold | $8,650,000 | 4 | 5 | 3,307 | $2,616 | 1.0 mi |
C 1717 E Ocean Boulevard Active | $8,349,000 List Price | 4 | 5 | 3,118 | $2,678 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This is a brand-new, ground-up construction project with an estimated completion in 2027. As a new build, it features modern architectural design, state-of-the-art HVAC and electrical systems, and high-end kitchen and bath finishes, meeting the highest standards for mint condition.
Situated directly on the Balboa Peninsula boardwalk, this property offers rare, unobstructed panoramic views of the Pacific Ocean and immediate beach access.
The project includes active permits, approved architectural plans, and an on-site contractor, allowing the buyer to bypass years of planning and city negotiations.
The inclusion of a separate one-bedroom JADU provides significant flexibility for multi-generational living, guest accommodations, or potential rental income.
With an estimated completion date in Q1 2027, the property requires a significant waiting period and carries the inherent risks of construction timelines.
The boardwalk-front position, while prestigious, exposes the residence to constant public activity and noise, which may compromise privacy for the ground-floor level.
Positioned directly on the Balboa Peninsula boardwalk, 306 E Oceanfront is a ground-up oceanfront residence currently under construction, offered now to a discerning buyer who understands the rarity of what’s in front of them. The views are unobstructed. The Pacific is at the doorstep. Designed by Richart Architects, the three-story residence spans 2,520 square feet of habitable space on a 2,400 square foot boardwalk lot, with a program that makes full use of its position. Three bedrooms, three full baths, and one half bath are arranged across the main living levels of the primary residence, anchored by a generous front patio that opens directly to the boardwalk. The rooftop level is designed for living at elevation, with an outdoor kitchen and unobstructed ocean views. A one-bedroom, one-bath attached JADU completes the offering, adding flexibility for guests, extended family, or income generation. The architectural vision is already realized on paper and in permit. A full set of approved construction documents, active building permits, and a complete interior design program are in place, covering cabinetry, material selections, lighting, hardware, and every finish decision that separates a house from a home of this caliber. The property currently carries an active short term lodging permit, a credential that adds meaningful optionality to a home on the boardwalk. An established general contractor is on-site and mid-build, executing under a professionally structured construction agreement with Marston Builders of Newport Beach. What this offering presents is the ability to step into a project of genuine quality, already in motion, and make it yours. The months of planning, the negotiations with the city, the selection of the right team — that work is done. A buyer with vision can focus entirely on the finish line. Boardwalk-front new construction of this pedigree surfaces rarely, if at all. Estimated completion 2027. Offered exclusively. Full construction documentation provided upon offer. Renderings are conceptual only. Final design, materials, and features are subject to change.
No exterior & parking available.
Grades PK-6 • 0.9 mi
Grades 7-8 • 1.3 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 5.0 | 4.0 | 61% |
| Square foot | 2,520 | 2,715 | 35% |
| Lot Size | 2,400 | 2,660 | 30% |
| Price | $6.85M | $6.42M | 61% |
| Price per sq ft | $2.7K | $2.4K | 61% |
| Built year | 2027 | 1990 | 96% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 156 | 4% |
May 12, 2026
$6,850,000
Initial Listing
Apr 19, 2024
$4,950,000
Public Record
Oct 3, 2022
$5,300,000
Public Record
Mar 14, 2017
$3,500,000
Public Record
Jun 26, 2003
$1,550,000
Public Record