331 Walnut Street, Newport Beach, California 92663, Newport Beach, 92663 - 5 bed, 6 bath
331 Walnut Street
Newport Beach, California 92663
Property Price
SUMMARY
Analysis of 331 Walnut Street, Newport Beach, California 92663 reveals a Fairly Priced Property with a current list price of $2,999,900 aligned with the estimated $2,999,900 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Newport Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 331 Walnut Street Subject | $2,999,900* List Price | 5 | 6 | 2,546 | $1,178 | - |
A 231 Canal Sold | $3,550,000 | 4 | 3 | 2,562 | $1,386 | 0.1 mi |
B 315 Lugonia Street Active | $3,225,000 List Price | 4 | 4 | 2,755 | $1,171 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
Despite being built in 1962, this property has undergone an extensive and luxurious custom renovation, as explicitly stated in the description and clearly evident in the high-quality images. The kitchen features modern white shaker cabinets, high-end stainless steel Thermador appliances, a pot filler, subway tile backsplash, and contemporary lighting, all appearing virtually new. Bathrooms are similarly updated with modern subway tile, glass enclosures, and a claw-foot soaking tub. Flooring, light fixtures, and smart home technology are all current and in excellent condition, indicating no deferred maintenance and meeting current quality standards. The renovation is comprehensive enough to overcome the age of the original structure, placing it firmly in the 'Excellent' category.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Newport Elementary School (9/10).
- Prime Coastal Location & Community Amenities
Located in the highly desirable Newport Shores subdivision, offering immediate access to popular surf and swim beaches, vibrant Lido Village, Mariners Mile, and exclusive community amenities including a private beach, colossal pool, tennis/basketball courts, and a clubhouse.
- Luxurious & Extensively Remodeled Interior
The residence boasts an elegant, custom-remodeled interior across three levels, featuring spacious open-concept living areas, 5 generously sized bedrooms, 5.5 bedecked bathrooms, soaring ceilings, and high-end finishes including a Thermador™ Professional Range and a claw-foot soaking tub.
CONSRISKS & DEFICIENCIES
- 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.
- Age of Original Construction
Built in 1962, the property's original structure is over 60 years old. While extensively remodeled, potential buyers may have concerns regarding the age of unseen infrastructure or the long-term maintenance requirements associated with an older home.
- Limited Lot Size
With a lot size of 2480 sqft for a 2546 sqft home, the property offers a relatively small footprint for ground-level outdoor space, which might be a consideration for buyers seeking larger private yards in a luxury coastal market.
About 331 Walnut Street
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1962
- Lot Size
- 2,480 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 6 (6 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $55.0 / Month
Neighborhood Insights
Newport Beach Unified Schools
Newport Heights Elementary School
Grades K-6 • 2.2 mi
Newport Elementary School
Grades PK-6 • 2.3 mi
Horace Ensign Intermediate School
Grades 7-8 • 2.1 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 83% |
| Baths | 6.0 | 4.0 | 91% |
| Square foot | 2,546 | 2,569 | 48% |
| Lot Size | 2,480 | 4,425.5 | 17% |
| Price | $3.00M | $4.42M | 26% |
| Price per sq ft | $1.2K | $1.8K | 13% |
| Built year | 1962 | 1962 | 50% |
| HOA | $55.0 | $0 | 63% |
| Days on market | 435 | 223 | 98% |
Pricing History
Listed for Sale
Nov 8, 2025
$2,999,900
$3,399,900
-12% Price Drop
Initial Listing
Price Change
Dec 28, 2024
$3,399,900
Initial Listing