
Newport Beach, California 92663
This property presents a High-Potential Investment Opportunity with a List Price of $2,500,000—positioned well below the $2,555,611 Fair Market Value by 2%. This valuation gap offers $55,611 in Instant Equity for buyers. With a Condition Rating of 5, the 1947 structure requires a comprehensive renovation, making it an ideal Value-Add Asset. Located in Newport Heights near top-rated schools, this is a prime acquisition for Fix-and-Flip Investors or Custom Home Builders seeking to maximize the potential of this 0.14-acre parcel.
Property is extensive renovation needed.
Built in 1947 and sold 'as-is' via a trust sale, this property is marketed primarily for its land value and potential for a complete rebuild. While currently habitable, the 79-year-old structure requires a total renovation of systems, kitchen, and bath to meet modern standards, as suggested by the listing's invitation to 'reimagine' the home.
Situated in the prestigious Newport Heights neighborhood, this property offers exceptional proximity to the harbor, world-class beaches, and high-end shopping and dining.
The approximately 0.14-acre lot provides a prime opportunity to build a custom luxury residence or undertake a major renovation in a neighborhood known for high-value custom homes.
Set behind a mature hedge, the property offers a secluded and private atmosphere, creating a quiet retreat while remaining close to Newport Beach's best amenities.
Sold as a trust sale in its present condition, the 1947 structure likely requires a complete overhaul or demolition, necessitating significant additional capital investment.
With only 960 square feet of living space and a 2-bedroom, 1-bath configuration, the current home is undersized for the area's market standards and modern buyer expectations.
Located in Newport Heights, 421 Catalina Drive is a charming property offering an opportunity to renovate, refresh, restore or completely reimagine in one of Newport Beach’s most established neighborhoods. Set beyond a mature hedge on an approx. 0.14-acre parcel, the circa-1947 residence offers privacy, coastal character & plenty of potential for its next chapter. Update the existing home, undertake a more extensive renovation, or investigate the possibility of creating a new residence tailored to the property. The location puts so much of Newport Beach within easy reach, with shopping, dining, the harbor, beaches and favorite amenities nearby, while the home itself feels tucked away once you step beyond the hedge. Surrounding streets feature an eclectic mix of original homes and newer custom residences. For the buyer who values location and would rather make their own decisions about the improvements, 421 Catalina offers a compelling opportunity to create something distinctly their own. Trust sale. Property is sold as-is in its present condition. Buyer to independently verify square footage, lot size, zoning, permits, development potential and suitability for intended use. Buy the address & reimagine the home. Located in Newport Heights, 421 Catalina Drive is a charming 2-bedroom, 1-bath home offering an opportunity to renovate, refresh, restore or completely reimagine in one of Newport Beach’s most established residential neighborhoods. Set beyond a mature hedge on an approximately 0.14-acre parcel, the circa-1947 residence offers privacy, character and plenty of potential for its next chapter. Update the existing home to make it your own, undertake a more extensive renovation, or investigate the possibility of creating a new residence tailored to the property, subject to City approvals and buyer due diligence. The location puts so much of Newport Beach within easy reach, with shopping, dining, the harbor, beaches and everyday amenities nearby, while the home itself feels tucked away once you step beyond the hedge. Surrounding streets feature an eclectic mix of charming original homes, substantial renovations and newer custom residences, reflecting the evolution and enduring appeal of Newport Heights. For the buyer who values location and would rather make their own decisions about the improvements, 421 Catalina offers a compelling opportunity to create something distinctly their own. Trust sale. As-Is.
No exterior & parking available.
Grades K-6 • 1.2 mi
Grades 7-8 • 0.7 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 4.0 |
| Baths | 1.0 | 3.8 |
| Square foot | 960 | 2,729.518 |
| Lot Size | 6,215 | 6,677.813 |
| Price | $2.50M | $4.20M |
| Price per sq ft | $2.6K | $1.6K |
| Built year | 1947 | 1972 |
| HOA | $0 | $414 |
| Days on market | 5 | 63 |
Sep 4, 2026
$2,500,000
Initial Listing