315 E Bay Avenue, Newport Beach, California 92661, Newport Beach, 92661 - 5 bed, 5 bath

315 E Bay Avenue, Newport Beach, California 92661 home-pic-0
ACTIVE$855,000
315 E Bay Avenue, Newport Beach, California 92661
5Beds
5Baths
2,632Sqft
2,400Lot

Price Vs. Estimate

Estimation data not available

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 = 2400, living area = 2632.

Compared to the nearby listings

Price:$855.0K vs avg $4.00M ($-3,145,000)4%
Size:2,632 sqft vs avg 2,046 sqft69%
Price/sqft:$325 vs avg $2.7K4%

More Insights

Built in 2022 (3 years old).
Condition: This property was built in 2022, making it virtually brand new. The images showcase a modern, high-end design throughout, including a professional-grade kitchen with contemporary wood-grain cabinetry, stainless steel appliances, and stylish black fixtures. The bathrooms are luxurious and feature modern tiling and glass-enclosed showers. All components, from flooring and lighting to overall finishes, are new and meet current quality standards, indicating no deferred maintenance.
Year Built
2022
Close
-
List price
$855K
Original List price
$855K
Price/Sqft
$325
HOA
-
Days on market
-
Sold On
-
MLS number
FR25014916
Home ConditionExcellent
Features
Excellent View: Ocean
Deck
ViewOcean

About this home

EMBER CO-OWNERSHIP PROPERTY. Experience the joy of owning a luxury vacation home without the hassle or full cost! This Ember co-ownership home offers a 1/8th ownership stake, giving you 6.5 weeks per year to create unforgettable memories. This is true property ownership, so you can sell your share whenever you choose. Plus, the home is professionally managed and maintained, offering a **headache-free way to own a stunning retreat. Why rent when you can own smarter, vacation better, and stress less with Ember? Meet the Apollo: your passport to the beach life in sunny Newport Beach, California. Located on the Balboa Peninsula with world-class beaches and surfing just steps from your front door, the Apollo also offers stunning sunset and ocean views from two rooftop terraces. Designed for bespoke modern living, this newly built seaside home has all the features and amenities needed for entertaining as well as relaxing. Outdoor spaces seamlessly transition inside with the home’s open floor plan and slideaway patio doors. You’ll love the professional-grade kitchen, luxurious ensuite bathrooms, and even a three-level elevator. This home comes with the Ember Peak Season Guarantee, which starts the first Tuesday in June and runs for eight weeks. Each ownership share includes a guaranteed seven-night stay during peak season.

Nearby schools

9/10
Newport Elementary School
Public,PK-61.0mi
7/10
Horace Ensign Intermediate School
Public,7-81.3mi
7/10
Newport Harbor High School
Public,9-121.5mi
Condition Rating
Excellent

This property was built in 2022, making it virtually brand new. The images showcase a modern, high-end design throughout, including a professional-grade kitchen with contemporary wood-grain cabinetry, stainless steel appliances, and stylish black fixtures. The bathrooms are luxurious and feature modern tiling and glass-enclosed showers. All components, from flooring and lighting to overall finishes, are new and meet current quality standards, indicating no deferred maintenance.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Coastal Location: Situated on the highly desirable Balboa Peninsula, offering immediate access to world-class beaches and surfing in Newport Beach.
Luxury New Construction: A newly built (2022) home featuring bespoke modern design, high-end finishes, a professional-grade kitchen, luxurious ensuite bathrooms, and a three-level elevator.
Exceptional Views & Outdoor Living: Boasts stunning sunset and ocean views from two rooftop terraces, complemented by an open floor plan and slideaway patio doors for seamless indoor-outdoor living.
Hassle-Free Co-Ownership: Professionally managed and maintained, offering a headache-free way to own a luxury vacation home with true property ownership and the ability to sell shares.
Guaranteed Peak Season Access: Includes 6.5 weeks of usage per year, with a guaranteed seven-night stay during peak season, ensuring access to prime vacation times.

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 = 2400, living area = 2632.
Fractional Ownership Limitation: The property is a 1/8th co-ownership share, limiting personal usage to 6.5 weeks per year, which may not suit buyers seeking full-time or extensive personal use.
High Entry Cost for Fractional Share: The $855,000 list price is for a fractional share, representing a significant investment for limited annual access, potentially narrowing the buyer pool.
Niche Market Appeal: The co-ownership model targets a specific market segment of luxury vacationers, which could result in a smaller pool of interested buyers compared to traditional full ownership properties.

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