428 E Bay Avenue, Newport Beach, California 92661, Newport Beach, 92661 - 3 bed, 5 bath
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Newport Beach, California 92661
This Turnkey Coastal Residence is a High-Potential Investment Opportunity, listed at $4,150,000—positioned well above the $3,828,732 Fair Market Value by 8%. While priced at a premium, the property maintains an Excellent Condition Rating with modern finishes and a prime location near the Balboa Pier. Featuring a Rooftop Deck and Ensuite Bedrooms, it offers a sophisticated lifestyle in the Newport Mesa Unified district. This residence is an ideal acquisition for Luxury Homebuyers or Discerning Owner-Occupants seeking a move-in ready coastal sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 428 E Bay Avenue Subject | $4,150,000* List Price | 3 | 5 | 2,595 | $1,475 | - |
A 200 E Balboa Boulevard Sold | $4,500,000 | 4 | 4 | 3,029 | $1,486 | 0.2 mi |
B 1585 Miramar Sold | $4,050,000 | 4 | 3 | 2,630 | $1,540 | 0.8 mi |
C 1577 Miramar Drive Sold | $4,650,000 | 4 | 4 | 2,558 | $1,818 | 0.8 mi |
D 200 E Balboa Boulevard Sold | $4,500,000 | 0 | 0 | 3,029 | $1,486 | 0.2 mi |
E 211 E Bay Active | $4,195,000 List Price | 3 | 4 | 2,668 | $1,572 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1997, the property is marketed as a turnkey, move-in ready residence with modern interior finishes, updated flooring, and contemporary cabinetry. The pristine condition and 'quintessential coastal' aesthetic suggest a comprehensive renovation within the last 5 years, meeting the criteria for excellent condition.
Elementary School: Newport Elementary School (9/10).
Situated just one home from the bay and two blocks from the ocean, this property offers an enviable walkable lifestyle near the Balboa Pier, Fun Zone, and boardwalk.
The residence features three spacious bedrooms each with its own ensuite bathroom, plus a versatile bonus room with an additional bath, providing excellent flexibility for guests or a home office.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2164, living area = 2595.
With a lot size of only 2,164 square feet, the property has a very high density and lacks private yard space, which may be a drawback for buyers seeking ground-level outdoor areas.
Built in 1997, the property carries a high price point of $4.15M, which may face competition from newer or more modernly renovated homes within the same price bracket on the Peninsula.
Welcome to 428 E Bay Avenue, a quintessential coastal retreat ideally located just one home from the bay and two blocks from the ocean and boardwalk in the heart of the Balboa Peninsula, moments from the Balboa Pier, ferry, and Fun Zone. With timeless beach cottage charm and classic coastal appeal, this move-in ready residence offers an effortless blend of style and functionality, featuring a light-filled great room, open-concept kitchen, and powder bath on the main level, while upstairs three spacious bedrooms each enjoy ensuite bathrooms for ultimate comfort and privacy. The rooftop deck captures refreshing bay breezes, passing boats, and city lights into the evening—perfect for embracing the vibrant Peninsula lifestyle year-round—while a bonus room with an additional bathroom provides flexible space for guests, a home office, or secondary living area. Complete with a versatile garage for parking, storage, bikes, and beach essentials, this is a rare opportunity to own a turnkey home in one of Newport Beach’s most iconic and sought-after beachside locations.
No exterior & parking available.
Grades PK-6 • 1.0 mi
Grades 7-8 • 1.3 mi
Grades 9-12 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 5.0 | 4.0 |
| Square foot | 2,595 | 2,868 |
| Lot Size | 2,164 | 6,914 |
| Price | $4.15M | $4.44M |
| Price per sq ft | $1.6K | $1.6K |
| Built year | 1997 | 1970 |
| HOA | $0 | $430 |
| Days on market | 21 | 59 |
Jul 1, 2026
$4,150,000
Initial Listing
Jun 29, 1998
$612,500
Public Record