4802 Neptune Ave, Newport Beach, California 92663, Newport Beach, 92663 - 0 bed, 0 bath
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4802 Neptune Ave
Newport Beach, California 92663
ACTIVE
CONDITION: FAIR
0Beds
0Baths
2,304Sq Ft
3,358Lot Size
Property Price
LIST PRICE$4,050,000
EST. MARKET VALUE
$3,652,553
10% AboveMARKET VALUE
SUMMARY
This duplex represents a High-Potential Investment Opportunity, listed at a List Price of $4,050,000—positioned well above the $3,652,554 Fair Market Value by -10%. While the property requires modernization given its Condition Rating of 4, the ADU potential and short-term rental viability offer significant upside. Located steps from the beach with Peek-A-Boo Ocean Views, this asset provides a unique "house hack" model for Buy-and-Hold Investors or Owner-Occupants seeking to leverage prime Newport Beach real estate for long-term wealth generation.
Estimated Market Value
$3,652,553
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 0 bd · 0 ba · 2,304 sqft · $1,585 | $4,050,000* List Price | 0 | 0 | 2,304 | $1,585 | - |
A 3206 W Balboa Boulevard Sold 0 bd · 0 ba · 2,340 sqft · $1,239 · 0.7 mi | $2,900,000 | 0 | 0 | 2,340 | $1,239 | 0.7 mi |
B 126 45th Street Active 5 bd · 4 ba · 2,320 sqft · $1,808 · 0.2 mi | $4,195,000 List Price | 5 | 4 | 2,320 | $1,808 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1962, this 62-year-old duplex is positioned as a 'value-add' investment opportunity. While currently functional and occupied by tenants, the age and lack of reported renovations suggest dated kitchens, baths, and systems that require updates to achieve the property's full valuation potential.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Newport Elementary School (9/10).
- Significant Value-Add Potential
The property offers substantial upside through the potential construction of an Accessory Dwelling Unit (ADU) and conversion to short-term rentals, with a projected valuation exceeding $6,000,000.
- Prime Coastal Location
Situated just steps from the beach on the Balboa Peninsula, the property provides immediate access to world-class amenities, including Fashion Island, Pelican Hill, and Newport Harbor.
CONSRISKS & DEFICIENCIES
- Dated Construction
Built in 1962, the structure may require significant capital investment for modernization and repairs to compete with newer luxury developments in the area.
- Limited View Profile
The ocean views are characterized as 'peek-a-boo,' which may be a drawback for buyers seeking the unobstructed panoramic vistas typically expected at this 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
- 0
- Total Bathrooms
- -
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 | 0.0 | 5.1 |
| Baths | 0.0 | 3.7 |
| Square foot | 2,304 | 2,313.222 |
| Lot Size | 3,358 | 2,703.444 |
| Price | $4.05M | $3.37M |
| Price per sq ft | $1.8K | $1.8K |
| Built year | 1962 | 1954 |
| HOA | $0 | $0 |
| Days on market | 26 | 63 |
Pricing History
Listed for Sale
Sep 29, 2026
$4,050,000
Initial Listing