
Newport Beach, California 92663
This property presents a High-Potential Investment Opportunity with a List Price of $5,500,000, positioned slightly above the $5,403,470 Fair Market Value. While the property requires significant renovation, its Condition Rating of 6 and 4,500-square-foot lot with Dual Water Frontage and a Private Boat Dock offer immense redevelopment potential. Located in the Newport Mesa Unified district, this asset is ideal for Real Estate Developers or Custom Home Builders looking to capitalize on the rare Newport Canal waterfront setting.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4204 River Avenue Subject 6 bd · 4 ba · 3,202 sqft · $1,688 | $5,500,000* List Price | 6 | 4 | 3,202 | $1,688 | - |
A 4802 Neptune Ave Active 6 bd · 4 ba · 2,304 sqft · $1,758 · 0.3 mi | $4,050,000 List Price | 6 | 4 | 2,304 | $1,758 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1955 (70+ years old) with no record of major renovations. The listing explicitly states the 'true value is in the land' and emphasizes redevelopment possibilities, aligning with the criteria for land-value-only properties.
Elementary School: Newport Elementary School (9/10).
The property features rare dual water frontage and a private boat dock on the Newport Canal, offering immediate access to the harbor for boating, kayaking, and paddleboarding.
Legally a duplex configured as three living areas, the property provides multiple income-generating strategies, allowing owners to offset carrying costs while planning for future use.
The existing 1955 structure requires extensive renovation or a complete teardown, necessitating a substantial capital investment beyond the initial purchase price.
At a $5.5 million price point where the primary value is in the land, the acquisition cost is high for buyers seeking a move-in ready residence rather than a development project.
RARE NEWPORT BEACH WATERFRONT OPPORTUNITY WITH DUAL WATER FRONTAGE AND PRIVATE BOAT DOCK! Acquire a distinctive waterfront property combining boating access, income potential, and redevelopment possibilities in desirable Newport Beach. Situated on an approximately 4,500-square-foot lot along the Newport Canal, 4204 River Avenue is a compelling opportunity for investors, builders, boating enthusiasts, and buyers looking to create their dream waterfront residence. The property is legally a duplex and configured as three living areas, with approximately 3,202 square feet of existing improvements, six bedrooms, and four bathrooms. While the property requires renovation, its versatile configuration creates several potential investment strategies. Renovate and explore its rental income potential, enjoy waterfront living while generating supplemental income, or pursue plans for a custom luxury waterfront residence. For developers, the existing set up may offer the advantage of generating rental income to help offset carrying costs while architectural plans, permits, and redevelopment approvals are pursued. What truly sets this property apart is its waterfront setting. Dual water frontage, a private dock, and beautiful canal surroundings create a unique opportunity to embrace the Newport Beach boating lifestyle. Imagine stepping outside to enjoy your boat, kayak, or paddleboard, spending afternoons exploring the harbor, and returning home to the tranquility of life along the water. Just a short distance from the sandy beaches of the Balboa Peninsula, neighborhood parks, coastal restaurants, and shopping, the location offers an exceptional combination of recreation, convenience, and coastal charm. For those with vision, the possibilities extend well beyond the existing structure. Whether your goal is to establish a waterfront income property, secure a personal coastal retreat with supplemental rental income, or design and build an extraordinary custom residence, here is a chance to invest in the location today and unlock its potential for tomorrow. Opportunities combining waterfront land, a private boat dock, income potential, and redevelopment possibilities are increasingly difficult to find in Newport Beach. The true value is in the land, the waterfront setting, and the opportunity to create something exceptional. All uses, rental configurations, dock rights, and redevelopment possibilities are subject to independent verification and applicable approvals.
No exterior & parking available.
Grades K-6 • 1.3 mi
Grades PK-6 • 1.4 mi
Grades 7-8 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 5.1 |
| Baths | 4.0 | 3.7 |
| Square foot | 3,202 | 2,313.222 |
| Lot Size | 4,443 | 2,703.444 |
| Price | $5.50M | $3.37M |
| Price per sq ft | $1.7K | $1.8K |
| Built year | 1955 | 1954 |
| HOA | $0 | $0 |
| Days on market | 2 | 63 |
Oct 24, 2026
$5,500,000
Initial Listing
Oct 23, 2026
$5,200,000
Initial Listing
Aug 3, 2016
$1,050,000
Public Record