331 Walnut Street, Newport Beach, California 92663, Newport Beach, 92663 - 5 bed, 6 bath

331 Walnut Street, Newport Beach, California 92663 home-pic-0
ACTIVE$2,999,900
331 Walnut Street, Newport Beach, California 92663
5Beds
6Baths
2,546Sqft
2,480Lot

Price Vs. Estimate

The estimated value ($2,999,900) is $0 (0%) lower than the list price ($2,999,900). 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 = 2480, living area = 2546.

Compared to the nearby listings

Price:$3.00M vs avg $4.40M ($-1,400,100)25%
Size:2,546 sqft vs avg 2,456 sqft51%
Price/sqft:$1.2K vs avg $1.8K14%

More Insights

Built in 1962 (63 years old).
Condition: Despite being built in 1962, this property has undergone extensive and high-quality custom remodeling throughout, as explicitly stated in the description and clearly visible in the images. The kitchen is virtually new with white shaker cabinets, high-end Thermador appliances, stone countertops, a stylish subway tile backsplash, and modern pendant lighting. Bathrooms feature contemporary designs with subway tile, glass shower enclosures, and an elegant claw-foot soaking tub. The property boasts updated flooring (tile, hardwood, and carpet), modern light fixtures, air conditioning, and smart-home technology, indicating a comprehensive renovation that meets current quality standards with no deferred maintenance.
Year Built
1962
Close
-
List price
$3M
Original List price
$3.4M
Price/Sqft
$1,178
HOA
$55
Days on market
-
Sold On
-
MLS number
IV24254834
Home ConditionExcellent
Features
Excellent View: Catalina, City Lights, Neighborhood, Ocean, Panoramic, Peek-A-Boo, Water
Deck
Patio
ViewCatalina,City Lights,Neighborhood,Ocean,Panoramic,Peek-A-Boo,Water

About this home

NEWPORT BEACH-NEWPORT SHORES-Welcome to this elegant coastal residence nestled in the heart of Newport Beach, California where stylishness and fastidiously designed amenities coalesce to offer a harmonious blend of sophistication and serenity with spacious layouts on all three levels of refined living space. Featuring five generously sized bedrooms and five (and a half) bedecked bathrooms, providing ample space meticulously designed to accommodate both relaxation and entertainment. The open-concept living areas are bathed in natural light, creating an inviting atmosphere for brilliant gatherings, or peaceful evenings at home. At each of three levels, you can step outside to your private outdoor space, perfect for al fresco dining or enjoying the serene shoreline breezes. The property boasts a barbecue area, ideal for hosting summer soirées, while the colossal pool and Tennis/Basketball/Sport courts & clubhouse provides recreation & leisure on the private beach for sunshine filled fun. For families, a playground offers a delightful space for children to play with holiday community gatherings that welcome family activities for celebrating holiday events in this adorable community. Moving on to some of the modern conveniences inside the home which include an elegant claw-foot soaking tub, a massive Thermador™ Professional Range, Pot Filler Faucet, Air-conditioning, Tech-Smart-Home living, colossal attic space for storage, custom remodeling within every detail throughout this home, soaring ceilings, 2nd floor balcony and roof-top balcony, multiple patios, a distinguished Dutch-door & stable-gate for breezy air allowances and safety for children/pets, two main entrances-which allows the opportunity to convert this into a multiple unit (as a separate rental potential), a nice sized garage, and so much more to list...ensuring happiness and ease of living. The third level is glorious for sitting under the dazzling stars for night-time celestial views, firework extravaganzas in season, gardening and embracing panoramic sights, view Catalina Island & take in the fresh ocean air. Located close to popular surf and swim beaches, this home offers the quintessential Southern California lifestyle. Explore the vibrant nearby Lido Village and Mariners Mile, where dining, shopping, and entertainment await. Discover the perfect blend of elegance and coastal charm at 331 Walnut Street, where every detail has been thoughtfully curated for a life of luxury and well-being.

Nearby schools

8/10
Newport Heights Elementary School
Public,K-62.2mi
9/10
Newport Elementary School
Public,PK-62.3mi
7/10
Horace Ensign Intermediate School
Public,7-82.1mi
7/10
Newport Harbor High School
Public,9-122.1mi
Condition Rating
Excellent

Despite being built in 1962, this property has undergone extensive and high-quality custom remodeling throughout, as explicitly stated in the description and clearly visible in the images. The kitchen is virtually new with white shaker cabinets, high-end Thermador appliances, stone countertops, a stylish subway tile backsplash, and modern pendant lighting. Bathrooms feature contemporary designs with subway tile, glass shower enclosures, and an elegant claw-foot soaking tub. The property boasts updated flooring (tile, hardwood, and carpet), modern light fixtures, air conditioning, and smart-home technology, indicating a comprehensive renovation that meets current quality standards with no deferred maintenance.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Coastal Location: Nestled in the desirable Newport Shores, this property offers quintessential Southern California living, steps from popular surf/swim beaches and vibrant Lido Village/Mariners Mile.
Extensive Community Amenities: Residents enjoy exclusive access to a colossal pool, tennis/sport courts, clubhouse, private beach, and a playground, fostering a resort-like lifestyle.
Luxurious & Modern Interior: Boasting 5 generously sized bedrooms and 5.5 baths, open-concept layouts, high-end Thermador appliances, smart-home technology, air-conditioning, and custom remodeling throughout.
Panoramic Views & Outdoor Living: Features multiple patios, balconies, and a roof-top deck offering panoramic views of Catalina Island, city lights, and ocean breezes, ideal for entertaining.
Income Potential / Flexible Layout: With two main entrances, the property presents a unique opportunity for conversion into multiple units, offering potential rental income.

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 = 2480, living area = 2546.
Recent Price Reduction: The property has undergone a significant price reduction from its original listing, which may suggest previous overpricing or market challenges.
Older Construction Year: Built in 1962, despite extensive renovations, the age of the original structure could imply potential for unforeseen maintenance or system updates.
Compact Lot Size: The 2480 sqft lot is relatively small for a luxury residence in this area, potentially limiting private yard space beyond the integrated outdoor areas.

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