505 29th, Newport Beach, California 92663, Newport Beach, 92663 - 4 bed, 4 bath
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Newport Beach, California 92663
This Victorian-inspired coastal residence is a Strong Value Opportunity, listed at $3,299,000—positioned well below the $3,489,762 Fair Market Value by 5%. This valuation gap provides $190,762 in Instant Equity. While maintaining a Fair Condition Rating, the property offers three distinct living areas and a private roof deck with harbor views, presenting significant "live/rent" potential in the heart of Cannery Village. With access to top-rated schools like Newport Elementary (9/10), this is an ideal acquisition for Owner-Occupants seeking a value-add compound or Buy-and-Hold Investors targeting high-demand coastal rentals.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 505 29th Subject | $3,299,000* List Price | 4 | 4 | 3,949 | $884 | - |
A 404 Clubhouse Active | $3,450,000 List Price | 6 | 5 | 3,309 | $1,043 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1983, this property is 41 years old. While some areas like the main kitchen (white cabinets, granite counters, modern fridge) and certain living spaces with updated light fixtures and hardwood floors show signs of renovation, other areas, particularly the second kitchen (white appliances, dated backsplash, wallpaper border) and some bathrooms (pedestal sinks, classic tile patterns), appear significantly older and dated. The exterior courtyard also shows peeling paint, indicating some deferred maintenance. The listing description notes 'no comprehensive recent renovations are detailed' and suggests 'potential for updates to major systems (e.g., HVAC, plumbing, electrical)'. This aligns with the 'Fair' category, indicating the home is aged but maintained through regular upkeep and occasional updates, with major components functional but showing signs of being outdated, and requiring minor updates or repairs.
Elementary School: Newport Elementary School (9/10).
Situated in the highly desirable 'Heart of Newport Beach’s historic Cannery Village' and the N8 - West Newport - Lido area, offering unparalleled access to coastal amenities and lifestyle.
Features three distinct living areas, providing a unique opportunity for a family compound or a savvy live/rent investment, catering to diverse buyer needs.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3949, other record living area = 2886. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 1.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2474, living area = 3949.
Built in 1983, the property may require significant updates to major systems (e.g., HVAC, plumbing, electrical) or interior finishes to meet contemporary buyer expectations, as no comprehensive recent renovations are detailed.
A Cannery Village Original: 3 Living Spaces, 1 Incredible Opportunity Whether you’re looking for a family compound or a savvy live/rent opportunity. Discover a rare architectural gem in the heart of Newport Beach’s historic Cannery Village. This Victorian-inspired residence offers a 4-bedroom, 3.5-bathroom floor plan defined by character and a "New York loft" soul. The home’s unique footprint features three distinct living areas seamlessly unified by a stunning interior brick courtyard. Step inside to find soaring high ceilings, hardwood floors, and a dramatic spiral staircase leading to a private roof deck with ocean and harbor views. With street-to-street access and a coveted 2-car garage, this home perfectly balances old-world allure with modern coastal convenience.
No exterior & parking available.
Grades K-6 • 0.6 mi
Grades PK-6 • 0.7 mi
Grades 7-8 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 4.0 | 50% |
| Square foot | 3,949 | 2,643 | 73% |
| Lot Size | 2,474 | 4,966 | 14% |
| Price | $3.30M | $4.45M | 31% |
| Price per sq ft | $835 | $1.8K | 4% |
| Built year | 1983 | 1964 | 59% |
| HOA | $0 | $0 | 50% |
| Days on market | 77 | 169 | 20% |
Feb 4, 2026
$3,299,000
Initial Listing
May 1, 2006
$1,950,000
Public Record