331 Walnut Street, Newport Beach, California 92663, Newport Beach, 92663 - 5 bed, 6 bath
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Newport Beach, California 92663
This Elegant Coastal Residence is a premier turnkey offering listed at $2,999,900, providing exceptional stability at its $2,999,900 Fair Market Value. Boasting an Excellent Condition Rating from an extensive high-end renovation, the home features a Gourmet Thermador Kitchen and a Panoramic Rooftop Balcony with breathtaking views of Catalina Island. Situated in the Newport Mesa Unified district, the property offers proximity to the 9/10 rated Newport Elementary School. This sophisticated sanctuary is perfectly suited for luxury-seeking families or Owner-Occupants looking for a move-in-ready beachside lifestyle.
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 Under Contract | $3,299,950 List Price | 4 | 4 | 2,755 | $1,198 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1962, the property has undergone an extensive, high-end custom renovation within the last few years that meets modern luxury standards. The interior features a gourmet kitchen with premium Thermador Professional appliances and a pot filler, designer bathrooms with high-end fixtures like a claw-foot soaking tub, and contemporary finishes including soaring ceilings and updated flooring throughout. The integration of smart-home technology and new air conditioning systems further confirms that all major components have been recently replaced or upgraded to excellent condition.
Elementary School: Newport Elementary School (9/10).
The property features a unique three-story design with two main entrances, providing a rare opportunity for multi-generational living or conversion into a multi-unit rental for additional income.
A spectacular third-level rooftop balcony offers panoramic views of Catalina Island and the Pacific Ocean, serving as a premier space for celestial viewing and coastal relaxation.
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.
With a lot size of 2,480 square feet, the property has a high building-to-land ratio, which limits private outdoor yard space compared to more traditional suburban lots.
The recent $400,000 price reduction from the original listing suggests the property is currently navigating a correction to align with local market demand and valuation.
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.
No exterior & parking available.
Grades K-6 • 2.2 mi
Grades PK-6 • 2.3 mi
Grades 7-8 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 80% |
| Baths | 6.0 | 4.0 | 90% |
| Square foot | 2,546 | 2,573 | 47% |
| Lot Size | 2,480 | 4,966 | 14% |
| Price | $3.00M | $4.45M | 24% |
| Price per sq ft | $1.2K | $1.8K | 12% |
| Built year | 1962 | 1963 | 49% |
| HOA | $55.0 | $0 | 59% |
| Days on market | 480 | 173 | 98% |
Nov 8, 2025
$2,999,900
$3,399,900
-12% Price Drop
Initial Listing
Dec 28, 2024
$3,399,900
Initial Listing