3510 Lake, Newport Beach, California 92663, Newport Beach, 92663 - 0 bed, 0 bath
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3510 Lake
Newport Beach, California 92663
ACTIVE
CONDITION: POOR
0Beds
0Baths
2,143Sq Ft
2,239Lot Size
Property Price
LIST PRICE$3,200,000
EST. MARKET VALUE
$3,451,884
7% BelowMARKET VALUE
SUMMARY
This property presents a Strong Value Opportunity with a List Price of $3,200,000—positioned well below the $3,500,000 Fair Market Value by 8%. This valuation gap offers $300,000 in Instant Equity. Featuring a Duplex configuration with a 2-car attached garage and private balconies, the home has a Poor Condition Rating that invites significant value-add renovation. Located near Newport Elementary (9/10), this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a prime coastal project.
Estimated Market Value
$3,451,884+$251,884 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Newport Beach.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3510 Lake Subject | $3,200,000* List Price | 0 | 0 | 2,143 | $1,611 | - |
A 3206 W Balboa Boulevard Sold | $2,900,000 | 0 | 0 | 2,340 | $1,239 | 0.2 mi |
B 213 33rd Street Sold | $2,616,000 | 4 | 2 | 1,354 | $1,932 | 0.1 mi |
C 213 33rd Street Sold | $2,616,000 | 0 | 0 | 1,451 | $1,803 | 0.1 mi |
D 4802 Neptune Ave Active | $4,050,000 List Price | 6 | 4 | 2,304 | $1,758 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
The property was rebuilt in 1988 and is now 36 years old, placing it in the 'poor' category based on age. The interior is significantly dated, featuring original 1980s oak cabinetry, tile countertops, and older appliances in the kitchen, along with original fixtures in the bathrooms and worn carpeting on the stairs, indicating a need for a full rehab.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Newport Elementary School (9/10).
- Prime Coastal Location
Situated on the Newport Beach Peninsula, the property is within walking distance to the beach, Lido Marina Village, and local shopping, offering a quintessential coastal lifestyle in a highly desirable area.
- Investment Versatility
Configured as a duplex with a main house and a separate upper unit, this property provides flexible options for multi-generational living or significant rental income potential in a high-demand market.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2143, other record living area = 1354.
- Market Pricing Volatility
A recent $300,000 price reduction within the first 14 days of listing suggests the initial valuation was aggressive, potentially impacting buyer perception of value.
- Limited Outdoor Footprint
With a lot size of only 2,239 square feet, the property offers minimal yard space, which may be a drawback for buyers seeking private outdoor recreation or garden areas.
About 3510 Lake
Property is located in Newport Beach Peninsula, highly desirable area, few minutes walking distance to the beach. Main house is 2 large bedrooms, 2 full bathrooms and a den that is currently being used as a 3rd bedroom, welcoming living room/dining area and open kitchen with laundry unit inside and large balcony upstairs. Upper unit has its own private stair entrance, 1 large bedroom, full bathroom, living room/dining area, kitchen with laundry area and private balcony. Additional features is main home has 2 car attached garage, upper unit has 2 car parking area. Perfect property for investment and/or personal use home. Walking distance to Pavilions shopping center and minutes from Lido Marina Village, shops and restaurants . Definitely a must see and great opportunity, first time on market. Home was rebuilt in 1988 as a duplex and has been used as a family home.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1988
- Lot Size
- 2,239 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Newport Beach Unified Schools
Newport Heights Elementary School
Grades K-6 • 1.0 mi
8/10
Newport Elementary School
Grades PK-6 • 1.1 mi
9/10
Horace Ensign Intermediate School
Grades 7-8 • 1.0 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.5 |
| Baths | 0.0 | 3.8 |
| Square foot | 2,143 | 2,512.545 |
| Lot Size | 2,239 | 2,760.364 |
| Price | $3.20M | $3.24M |
| Price per sq ft | $1.5K | $1.8K |
| Built year | 1988 | 1958 |
| HOA | $0 | $0 |
| Days on market | 63 | 72 |
Pricing History
Listed for Sale
Jul 12, 2026
$3,200,000
$3,500,000
-9% Price Drop
Initial Listing
Price Change
Jul 8, 2026
$3,500,000
Initial Listing