421 Tustin Avenue, Newport Beach, California 92663, Newport Beach, 92663 - 4 bed, 2 bath
ACTIVE$3,000,000
421 Tustin Avenue, Newport Beach, California 92663
4Beds
2Baths
1,343Sqft
6,375Lot
Price Vs. Estimate
The estimated value ($2,822,670.87) is $177,329.13 (5%) lower than the list price ($3,000,000). This property may be overpriced.
Key pros and cons
Top Pros:
Premier Coastal Location: Situated in the highly coveted Newport Heights neighborhood on Tustin Avenue, offering an unparalleled coastal lifestyle in one of Orange County's most desirable communities.
Top Cons:
Extensive Renovation/Rebuild Required: The property's current condition is rated as 'tear-down,' indicating the existing 1965 structure requires a complete overhaul or demolition, necessitating substantial additional investment beyond the purchase price.
Compared to the nearby listings
Price:$3.00M vs avg $4.40M ($-1,400,000)25%
Size:1,343 sqft vs avg 2,431 sqft11%
Price/sqft:$2.2K vs avg $1.8K67%
More Insights
Built in 1965 (60 years old).
Condition: Built in 1965, this property is 59 years old. The listing description explicitly states it's 'poised for transformation' and an opportunity to 'craft their dream remodel or construct a bespoke residence,' with 'drafted plans for an ADU.' This language, combined with the complete absence of interior photos (especially kitchen and bathrooms), strongly indicates that the existing structure is not the primary value proposition and is expected to be extensively renovated or demolished. The property's value is clearly based on the land and its redevelopment potential, aligning with the 'tear-down' criteria.
Year Built
1965
Close
-
List price
$3M
Original List price
$3M
Price/Sqft
$2,234
HOA
-
Days on market
-
Sold On
-
MLS number
OC25161782
Home ConditionTear down
Features
Patio
View-
About this home
An exceptional opportunity on the highly coveted 400 block of Tustin Avenue in Newport Heights. This prime 6,375 sqft lot hosts a property poised for transformation, offering a discerning buyer the chance to craft their dream remodel or construct a bespoke residence. Enjoy an unparalleled coastal lifestyle with best-in-class restaurants, charming local boutiques, top-rated schools, vibrant neighborhood parks, and iconic beaches all within a short walk or bike ride. A rare chance to secure your place in one of coastal Orange County's most desirable communities. There are drafted plans for an ADU with garage that could be transferred to the new owner. Inquire for more details.
Nearby schools
8/10
Newport Heights Elementary School
Public,•K-6•1.0mi
7/10
Horace Ensign Intermediate School
Public,•7-8•0.4mi
7/10
Newport Harbor High School
Public,•9-12•0.4mi
Condition Rating
Tear down
Built in 1965, this property is 59 years old. The listing description explicitly states it's 'poised for transformation' and an opportunity to 'craft their dream remodel or construct a bespoke residence,' with 'drafted plans for an ADU.' This language, combined with the complete absence of interior photos (especially kitchen and bathrooms), strongly indicates that the existing structure is not the primary value proposition and is expected to be extensively renovated or demolished. The property's value is clearly based on the land and its redevelopment potential, aligning with the 'tear-down' criteria.
Pros & Cons
Pros
Premier Coastal Location: Situated in the highly coveted Newport Heights neighborhood on Tustin Avenue, offering an unparalleled coastal lifestyle in one of Orange County's most desirable communities.
Significant Development Opportunity: The property is explicitly 'poised for transformation,' presenting a rare chance for a discerning buyer to undertake a custom remodel or construct a bespoke residence.
Approved ADU Plans Available: Availability of drafted plans for an Accessory Dwelling Unit (ADU) with a garage adds substantial value, offering potential for rental income or multi-generational living.
Access to Top-Tier Amenities: Enjoy immediate access to best-in-class restaurants, charming boutiques, top-rated schools, vibrant parks, and iconic beaches, all within walking or biking distance.
Generous Lot Size: A prime 6,375 sqft lot provides ample space for a substantial new construction or a significantly expanded custom home in a high-demand area.
Cons
Extensive Renovation/Rebuild Required: The property's current condition is rated as 'tear-down,' indicating the existing 1965 structure requires a complete overhaul or demolition, necessitating substantial additional investment beyond the purchase price.
High Total Investment: The $3,000,000 list price, combined with the necessity for major construction or renovation, implies a significant overall financial commitment for the buyer.
Outdated Existing Structure: Built in 1965, the current home is 59 years old, suggesting outdated systems, finishes, and floor plan that do not align with modern luxury standards, reinforcing the need for extensive work.