505 W Edgewater Avenue, Newport Beach, California 92661, Newport Beach, 92661 - 4 bed, 5 bath

505 W Edgewater Avenue, Newport Beach, California 92661 home-pic-0
ACTIVE$13,500,000
505 W Edgewater Avenue, Newport Beach, California 92661
4Beds
5Baths
3,208Sqft
2,800Lot

Price Vs. Estimate

The estimated value ($10,447,700.02) is $3,052,299.98 (22%) lower than the list price ($13,500,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Elementary School: Newport Elementary School (9/10).
Top Cons:
Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2800, living area = 3208.

Compared to the nearby listings

Price:$13.50M vs avg $4.22M (+$9,275,000)92%
Size:3,208 sqft vs avg 2,046 sqft81%
Price/sqft:$4.2K vs avg $2.8K92%

More Insights

Built in 2004 (21 years old).
Condition: Built in 2004, this property has undergone an 'impeccably remodeled' and 'turn-key designer' renovation, bringing all aspects to a virtually new, high-end standard. The kitchen is professional-grade with a handcrafted walnut island, BlueStar range, abundant refrigeration, and a luxurious butler's pantry with lacquer-finish cabinetry and a commercial ice maker. Bathrooms feature opulent stone-clad walls, custom mosaic marble details, and modern fixtures, all appearing recently updated. Throughout the home, high-quality finishes, detailed millwork, stylish lighting, and pristine flooring (hardwood and high-end carpets) are evident, reflecting a comprehensive and recent renovation that meets current luxury standards with no visible depreciation.
Year Built
2004
Close
-
List price
$13.5M
Original List price
$15M
Price/Sqft
$4,208
HOA
-
Days on market
-
Sold On
-
MLS number
NP25009524
Home ConditionExcellent
Features
Excellent View: Bay, City Lights, Harbor, Mountain(s), Neighborhood, Panoramic, Water
Deck
Patio
ViewBay,City Lights,Harbor,Mountain(s),Neighborhood,Panoramic,Water

About this home

Situated in a premier and rarely available, Bayfront location with captivating Newport Harbor turning basin views, this impeccably remodeled, turn-key designer four bedroom, four-and-a-half-bath home embraces traditional East Coast elegance and style at every turn. Poised on a forty-foot-wide waterfront lot along the charming tree-lined walkway near Bay Island, this magical residence displays the timeless character of a classic New England beach house. Past the Dutch door entry, the well-proportioned living room is highlighted by a fireplace, gleaming millwork and exceptional ceiling detail. Designed for entertaining the foyer, living, dining and kitchen areas flow from one to the next and adjoin the sunny bay front terrace replete with Hestan grill. For the true gourmand, the professional-grade kitchen is anchored by a handcrafted walnut island and features generous prep and storage areas, abundant refrigeration, and an impressive BlueStar range and oven. Adjoining the kitchen, the jewel-box butler’s pantry shimmers with lacquer-finish wood paneled walls, and houses additional storage, refrigeration, and a commercial ice maker. A graceful staircase ascends to the second floor. Here, the serene primary suite embraces water views from ever vantage point and is highlighted by a separate sitting room with cozy fireplace, a private terrace, artisan millwork, and a luxurious spa bath with stone-clad walls and custom mosaic marble details. Two beautifully appointed, grand-scale guest rooms, each with walk-in closet and en-suite bath, and a den/office complete the second level of the home. An additional guest suite with private bath is thoughtfully located on the first floor of the residence. Enjoying panoramic views of the harbor, sparkling city lights, and the San Bernadino mountains in the distance, this gracious home with its timeless architectural appeal presents a rare opportunity to enjoy move-in-ready waterfront living, that could be available furnished. Dine al fresco on the terrace or relax with a glass of wine on your private dock at sunset. This one-of-a-kind property invites you to slow down, relax, and enjoy all that makes this one of Newport Beach’s most desired locations.

Nearby schools

9/10
Newport Elementary School
Public,PK-60.7mi
7/10
Horace Ensign Intermediate School
Public,7-81.0mi
7/10
Newport Harbor High School
Public,9-121.3mi
Condition Rating
Excellent

Built in 2004, this property has undergone an 'impeccably remodeled' and 'turn-key designer' renovation, bringing all aspects to a virtually new, high-end standard. The kitchen is professional-grade with a handcrafted walnut island, BlueStar range, abundant refrigeration, and a luxurious butler's pantry with lacquer-finish cabinetry and a commercial ice maker. Bathrooms feature opulent stone-clad walls, custom mosaic marble details, and modern fixtures, all appearing recently updated. Throughout the home, high-quality finishes, detailed millwork, stylish lighting, and pristine flooring (hardwood and high-end carpets) are evident, reflecting a comprehensive and recent renovation that meets current luxury standards with no visible depreciation.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Premier Waterfront Location & Views: Situated in a rarely available Bayfront location with captivating Newport Harbor turning basin views, and panoramic views of the harbor, city lights, and San Bernardino mountains, offering an unparalleled coastal living experience.
Impeccable Remodel & High-End Finishes: The home is impeccably remodeled and turn-key, featuring a professional-grade kitchen with a handcrafted walnut island, BlueStar range, abundant refrigeration, a jewel-box butler’s pantry with commercial ice maker, and luxurious spa baths with custom mosaic marble details.
Timeless Architectural Style: The residence embraces traditional East Coast elegance and style, displaying the timeless character of a classic New England beach house, appealing to a discerning aesthetic.
Luxurious Outdoor & Entertainment Features: Designed for entertaining, the property includes a sunny bay front terrace with a Hestan grill and a private dock, perfect for al fresco dining and enjoying sunsets directly on the water.
Functional & Well-Appointed Interior Layout: The home offers a well-proportioned and flowing layout, including a serene primary suite with a private terrace and sitting room, two grand-scale guest rooms with en-suite baths, a den/office, and an additional first-floor guest suite.

Cons

Low Available Lot Utilization: The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2800, living area = 3208.
Significant Overpricing Relative to Market Estimate: The current listing price of $13.5 million is 22% above the estimated property value of approximately $10.45 million, which could lead to extended market time or require a price adjustment.
Limited Lot Size for Luxury Segment: The 2800 sqft lot size, while waterfront, is relatively modest for a luxury property of this caliber and price point in Newport Beach, potentially limiting expansive outdoor living space beyond the immediate terrace and dock.
Absence of Mentioned Central Air Conditioning: Despite extensive remodeling, the property description does not explicitly mention the presence of central air conditioning, which is a highly desired comfort feature and standard expectation for a luxury home in Southern California.

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