5119 River Avenue, Newport Beach, California 92663, Newport Beach, 92663 - 5 bed, 4 bath
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Newport Beach, California 92663
This Remodeled Coastal Duplex is a Strong Value Opportunity, listed at $4,500,000—positioned well below the $4,790,097 Fair Market Value by 6%. This valuation gap provides $290,097 in Instant Equity. Boasting an Excellent Condition Rating, the property sits just three houses from the sand and features rare 4-car parking and access to Top-Rated Schools like Newport Elementary (9/10). With two fully updated units and potential for a third studio, it offers a premium lifestyle with significant rental upside. This is an elite acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5119 River Avenue Subject | $4,500,000* List Price | 5 | 4 | 2,934 | $1,633 | - |
A 231 Canal Sold | $3,550,000 | 4 | 3 | 2,562 | $1,386 | 0.7 mi |
B 315 Lugonia Street Active Under Contract | $3,299,950 List Price | 4 | 4 | 2,755 | $1,198 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1963, the property is described as completely remodeled and presents in like-new condition. The interiors feature modern open-concept kitchens with updated cabinetry and stainless steel appliances, contemporary flooring throughout, and fully renovated bathrooms with stylish fixtures. The extensive nature of the recent renovations, combined with the high-end coastal finishes and lack of deferred maintenance, qualifies the property for an excellent rating.
Elementary School: Newport Elementary School (9/10).
Situated just three houses from the beach, this property offers an exceptional coastal lifestyle with immediate access to the ocean in a highly coveted Newport Beach neighborhood.
This completely remodeled duplex provides flexible options to live in one unit while generating rental income from the other, or maximizing returns as a full investment property with potential for a third studio unit.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =2762, other record lot size in square feet = 3026.
The property has a small lot size, more than 70 percent of which is taken by its living area. lot size in square feet = 2762, living area = 2934.
The ability to convert the third bedroom into a separate studio or operate short-term rentals is strictly dependent on city permitting, which may pose a hurdle for buyers seeking immediate maximum utility.
Calling out all Beach Lovers, this Highly Coveted Location-- only 3 Houses from the Beach, Offers the Ultimate Coastal Lifestyle with Easy Access to the Ocean, Newport and Huntington. Experience the Perfect Blend of Comfort and Opportunity with this Versatile Duplex. Live in One Unit and Enjoy the Convenience of Home Ownership while Generating Rental Income from the Other or Rent Both for More Generous Income. The Lower Unit has 2 Bedrooms and 2 Baths, Open Kitchen to Family Room, and Slider Door to Enclosed Lower Patio and Laundry. The Upstairs Features Same FloorPlan as Lower except it has Additional 3rd Bedroom which is much Larger and has it's own Entrance and Spacious Balcony. With Proper City Permitting this could be a Separate Studio Apartment. Ample Parking with 2 Car Garage and 2 Car Driveway. Lower and Upper Units both Completely Remodeled and can be Rented Month to Month or with City Permit Short Term/Vacation Stay! Seize the Chance to Make this Stunning Beach Property your Own--Paradise Awaits.
No exterior & parking available.
Grades K-6 • 1.7 mi
Grades PK-6 • 1.8 mi
Grades 7-8 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 80% |
| Baths | 4.0 | 4.0 | 50% |
| Square foot | 2,934 | 2,643 | 55% |
| Lot Size | 2,762 | 4,966 | 22% |
| Price | $4.50M | $4.50M | 50% |
| Price per sq ft | $1.5K | $1.8K | 41% |
| Built year | 1963 | 1963 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 47 | 169 | 10% |
Mar 6, 2026
$4,500,000
Initial Listing
May 6, 2019
$2,050,000
Public Record