491 Prospect Street, Newport Beach, California 92663, Newport Beach, 92663 - 4 bed, 3 bath

491 Prospect Street, Newport Beach, California 92663 home-pic-0
ACTIVE$3,349,000
491 Prospect Street, Newport Beach, California 92663
4Beds
3Baths
2,020Sqft
2,838Lot

Price Vs. Estimate

The estimated value ($3,349,000) is $0 (0%) lower than the list price ($3,349,000). This property may be overpriced.

Key pros and cons

Top Pros:
Premier Coastal Location: Situated in the heart of Newport Shores, just steps from the sand, offering unparalleled access to beaches, restaurants, and coastal trails.
Top Cons:
Recent Price Reductions: Multiple price adjustments indicate the property may have been initially overpriced or is experiencing slower market absorption, potentially signaling a need for further negotiation.

Compared to the nearby listings

Price:$3.35M vs avg $4.40M ($-1,051,000)27%
Size:2,020 sqft vs avg 2,431 sqft27%
Price/sqft:$1.7K vs avg $1.8K38%

More Insights

Built in 1962 (63 years old).
Condition: Despite being built in 1962, this property was 'completely reimagined from the ground up in 2020,' with all major systems (electrical, plumbing, HVAC, roof, water heater) replaced just five years ago. The images showcase a modern, high-end renovation with a custom maple kitchen featuring stainless steel appliances, sleek countertops, and an indoor/outdoor bar. Bathrooms are spa-like with contemporary fixtures, a large Kohler bubble tub, and a steam shower. Flooring is consistent modern tile throughout, and lighting is recessed and stylish. The property exhibits virtually new components and meets current quality standards with no visible deferred maintenance.
Year Built
1962
Close
-
List price
$3.35M
Original List price
$3.6M
Price/Sqft
$1,658
HOA
$58
Days on market
-
Sold On
-
MLS number
PTP2502962
Home ConditionExcellent
Features
Good View: Coastline, Harbor, Neighborhood, Ocean, Peek-A-Boo
Deck
Patio
ViewCoastline, Harbor, Neighborhood, Ocean, Peek-A-Boo

About this home

MAJOR PRICE IMPROVEMENT (08/16)! Discover the pinnacle of coastal living at 491 Prospect Street—a fully rebuilt, luxury residence in the heart of Newport Shores, just steps from the sand. Set on a rare oversized corner lot, this home stands apart with its generous outdoor space, private driveway, and attached two-car garage—offering privacy, parking, and the freedom to expand, a true rarity in this coveted beachside community. Completely reimagined from the ground up in 2020, this home offers the comfort, quality, and peace of mind that comes with something new, with every major system replaced just five years ago—including new electrical, plumbing, sewer, roof, A/C and furnace, tankless water heater, and a whole-house water filtration system. This is not your typical “row home” beach house. Set on a large, private lot with an attached two-car garage and its own driveway, the property offers the space and flexibility so rarely found this close to the coast. There's even room to expand—adding long-term value and lifestyle potential. Inside, the open-concept design flows effortlessly between indoor and outdoor spaces. The custom maple kitchen includes a stylish indoor/outdoor bar perfect for entertaining, while oversized bifold doors open to a private patio with a built-in BBQ and gas firepit—ideal for relaxed coastal evenings. Upstairs, the primary suite is a true retreat, featuring a linear fireplace, spa-like bathroom with a large Kohler bubble tub, and a separate steam shower wrapped in custom tile and glass—an indulgent escape after a day at the beach. Directly across the street, enjoy access to Newport Shores’ coveted amenities: an Olympic-sized pool, tennis and volleyball courts, and a vibrant calendar of community events—all within easy reach of the sand, restaurants, and coastal trails. Beautifully designed, thoughtfully rebuilt, and ideally located, 491 Prospect is a rare opportunity to own a truly turn-key home in one of Newport Beach’s most desirable neighborhoods. Every day feels like a vacation—welcome to Newport Beach living at its best. Seller willing to consider all offers as well as buy down interest rate options.

Nearby schools

8/10
Newport Heights Elementary School
Public,K-62.3mi
9/10
Newport Elementary School
Public,PK-62.4mi
7/10
Horace Ensign Intermediate School
Public,7-82.1mi
7/10
Newport Harbor High School
Public,9-122.1mi
Condition Rating
Excellent

Despite being built in 1962, this property was 'completely reimagined from the ground up in 2020,' with all major systems (electrical, plumbing, HVAC, roof, water heater) replaced just five years ago. The images showcase a modern, high-end renovation with a custom maple kitchen featuring stainless steel appliances, sleek countertops, and an indoor/outdoor bar. Bathrooms are spa-like with contemporary fixtures, a large Kohler bubble tub, and a steam shower. Flooring is consistent modern tile throughout, and lighting is recessed and stylish. The property exhibits virtually new components and meets current quality standards with no visible deferred maintenance.
Pros & Cons

Pros

Premier Coastal Location: Situated in the heart of Newport Shores, just steps from the sand, offering unparalleled access to beaches, restaurants, and coastal trails.
Extensive & Recent Renovation: Completely rebuilt from the ground up in 2020 with all major systems (electrical, plumbing, HVAC, roof) replaced, providing a truly turn-key luxury residence.
Rare Oversized Corner Lot: Features a unique, larger-than-typical corner lot for the area, providing enhanced privacy, generous outdoor space, a private driveway, and expansion potential.
Luxury Finishes & Indoor-Outdoor Living: Boasts an open-concept design, custom maple kitchen with indoor/outdoor bar, oversized bifold doors, and a spa-like primary suite, ideal for entertaining and coastal living.
Exclusive Community Amenities: Direct access to Newport Shores' coveted amenities, including an Olympic-sized pool, tennis courts, and community events, enhancing lifestyle appeal.

Cons

Recent Price Reductions: Multiple price adjustments indicate the property may have been initially overpriced or is experiencing slower market absorption, potentially signaling a need for further negotiation.
Limited Lot Size (Absolute): While oversized for the immediate area, the 2,838 sqft lot is still relatively compact for a luxury single-family home, which might not appeal to buyers seeking expansive grounds.
Partial Ocean Views: Although views are present, the 'Peek-A-Boo' designation suggests limited or obstructed ocean views, which could be a consideration for buyers expecting panoramic coastal vistas at this price point.

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