4802 Neptune Ave, Newport Beach, California 92663, Newport Beach, 92663 - 6 bed, 4 bath
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4802 Neptune Ave
Newport Beach, California 92663
ACTIVE
CONDITION: POOR
6Beds
4Baths
2,304Sq Ft
3,358Lot Size
Property Price
LIST PRICE$4,050,000
EST. MARKET VALUE
$3,128,693
29% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $4,050,000—positioned well above the $3,128,694 Fair Market Value by -29%. While priced at a premium, the asset offers significant upside through ADU construction and short-term rental optimization. With a Condition Rating of 5, the structure requires modernization to reach its full valuation potential. Located in the Newport Mesa Unified district near top-rated schools, this is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a value-add coastal duplex.
Estimated Market Value
$3,128,693
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 |
|---|---|---|---|---|---|---|
★ 4802 Neptune Ave Subject | $4,050,000* List Price | 6 | 4 | 2,304 | $1,358 | - |
A 3206 W Balboa Boulevard Sold | $2,900,000 | 0 | 0 | 2,340 | $1,239 | 0.7 mi |
B 3510 Lake Active | $3,200,000 List Price | 0 | 0 | 2,143 | $1,493 | 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 built in 1962 (62 years old) and the listing emphasizes 'value-added potential' and investment opportunity rather than interior condition. Given the age and the focus on land value/ADU potential, the structure likely requires a full rehab to meet modern standards for the Newport Beach market.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Newport Elementary School (9/10).
- Significant Value-Add Potential
The property offers a rare opportunity to increase total value to over $6,000,000 through the construction of an Accessory Dwelling Unit (ADU) and optimization as a short-term rental.
- Prime Coastal Location
Situated just steps from the beach on the Balboa Peninsula, this property boasts a highly desirable location with quick access to Newport Harbor, Fashion Island, and major Orange County attractions.
CONSRISKS & DEFICIENCIES
- Dated Infrastructure
Built in 1962, the property likely requires significant modernization or capital improvements to achieve the high-end market valuations projected in the investment analysis.
- Limited Ocean Views
The property features only 'peek-a-boo' ocean views rather than full panoramic vistas, which may be a competitive disadvantage compared to other luxury listings at the $4M+ price point.
About 4802 Neptune Ave
**Investment Property Opportunity with Value-Added Potential** This property is currently appraised at $4,050,000 (MAI Appraisal). As a short-term rental, the estimated value increases to $4,555,000. Additionally, the large lot has the potential for constructing an Accessory Dwelling Unit (ADU) in the back, which could push the total value of the property to well over $6,000,000. You won’t find other properties on the Peninsula that offer this type of opportunity. This rare investment is just steps from the beach, located in one of Newport Beach’s most desirable coastal communities. It features a two-car garage and offers peak ocean views from the balcony. The property is conveniently situated just a quick drive from all that Orange County has to offer, including: - Pelican Hill Golf and Resort (10 minutes) - John Wayne Airport (10 minutes) - Angel Stadium & Honda Center (15 minutes) - Disneyland (20 minutes) - Knotts Berry Farm (20 minutes) - Laguna Beach (15 minutes) - Huntington Beach Pier (5 minutes) - Newport Harbor Fun Zone (3 minutes) - Fashion Island (5 minutes) - Segerstrom Hall & South Coast Plaza (15 minutes) Furthermore, this property presents an excellent opportunity for use as a primary residence. The upstairs can serve as a living space while the lower unit can be rented out as an income-producing property. Both units are currently rented on a month-to-month basis. Please contact the agent for showings.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1962
- Lot Size
- 3,358 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 4 (4 Full, 0 Half)
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 • 1.5 mi
8/10
Newport Elementary School
Grades PK-6 • 1.6 mi
9/10
Horace Ensign Intermediate School
Grades 7-8 • 1.5 mi
7/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 5.5 |
| Baths | 4.0 | 3.8 |
| Square foot | 2,304 | 2,512.545 |
| Lot Size | 3,358 | 2,760.364 |
| Price | $4.05M | $3.24M |
| Price per sq ft | $1.8K | $1.8K |
| Built year | 1962 | 1958 |
| HOA | $0 | $0 |
| Days on market | 28 | 72 |
Pricing History
Listed for Sale
Aug 12, 2026
$4,050,000
Initial Listing