327 Onyx, Newport Beach, California 92662, Newport Beach, 92662 - 5 bed, 2 bath
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Newport Beach, California 92662
This property presents a High-Potential Investment Opportunity with a List Price of $4,200,000—positioned well below the $4,184,773 Fair Market Value (priced at market). Featuring a 40-foot wide lot and Bay views, this 5-bedroom, 2-bath residence offers significant development potential. With a Condition Rating of 5, the home requires a comprehensive renovation to modernize its 1938 structure. This asset is ideal for Value-Add Investors or Custom Home Builders looking to capitalize on one of Balboa Island’s rarest, oversized parcels.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 327 Onyx Subject | $3,999,900* List Price | 5 | 2 | 2,128 | $1,827 | - |
A 220 Apolena Avenue Sold | $3,550,000 | 4 | 4 | 2,021 | $1,757 | 0.1 mi |
B 1708 Park Avenue Active | $3,625,000 List Price | 3 | 3 | 1,593 | $2,276 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Originally built in 1938 and on the market for the first time in 60 years, the property is significantly dated. While it has had some mid-life updates (tile flooring and windows), the interiors, kitchen, and baths appear to be 30+ years old and require a full rehab to meet modern standards.
The property sits on a 40-foot wide lot, a significant rarity on Balboa Island that provides enhanced privacy, more natural light, and superior development potential compared to standard parcels.
Situated just steps from the North Bayfront, the home offers desirable water views from both levels and immediate proximity to the shopping and dining on Marine Avenue.
The property features rare off-street parking both behind and alongside the garage, solving one of the most significant logistical challenges of Balboa Island living.
Built in 1938 and held by the same owner for over 60 years, the home likely requires a comprehensive renovation or a complete rebuild to meet modern luxury standards.
The current layout of five bedrooms served by only two bathrooms is highly inefficient and does not align with the expectations of buyers in the $4M+ price bracket.
Welcome to 327 Onyx Avenue, Balboa Island, a great location steps from the—just steps to the North Bayfront. Water views on both levels. Located on a rare find 40 foot lot. A 40 feet wide lot offers significantly more space, light and private parking (a coveted premium on the Island). Currently offers parking behind the garage and a spot alongside the garage. Easy access to the home with alley access off Marine Dr. just over the Bridge. This Balboa Island mid-century beach house takes advantage of its position, with views toward the Bay and a constant reminder of how close you are to the water. It’s an easy access to the Shoreline, Marine Avenue shopping, Dining and fun. Balboa is everything that makes Newport Beach what it is—but far enough removed to feel quiet and livable. First time on the market in over 60 years is now available for a new beginning! A rare find indeed. Properties like this don’t come up often.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 85% |
| Baths | 2.0 | 4.0 | 15% |
| Square foot | 2,128 | 2,333 | 38% |
| Lot Size | 3,400 | 2,550 | 85% |
| Price | $4.00M | $5.90M | 38% |
| Price per sq ft | $1.9K | $2.4K | 23% |
| Built year | 1938 | 1953 | 38% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 124 | 8% |
Jun 4, 2026
$3,999,900
$4,200,000
-5% Price Drop
Initial Listing
Apr 24, 2026
$4,200,000
Initial Listing
Apr 22, 2026
$4,500,000
Initial Listing