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5201 Seashore Drive, Newport Beach, California 92663, Newport Beach, 92663 - 5 bed, 3 bath

5201 Seashore Drive, Newport Beach, California 92663 home-pic-0
ACTIVE$6,750,000
5201 Seashore Drive, Newport Beach, California 92663
5Beds
3Baths
1,868Sqft
1,860Lot

Price Vs. Estimate

The estimated value ($6,750,000) is $0 (0%) lower than the list price ($6,750,000). 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 = 1860, living area = 1868.

Compared to the nearby listings

Price:$6.75M vs avg $4.45M (+$2,300,000)77%
Size:1,868 sqft vs avg 2,431 sqft25%
Price/sqft:$3.6K vs avg $1.8K92%

More Insights

Built in 1959 (66 years old).
Condition: The property was built in 1959, making it over 50 years old. The listing explicitly states it is being sold with approved plans for a new construction, implying the existing structure will 'likely require demolition and complete new construction.' The property's value is clearly based on the land and its redevelopment potential, not the current dwelling. There are no interior images of the existing structure, and the provided images include a rendering of the proposed new build and aerial shots of the location, further indicating the current structure is not intended for habitation or renovation. This aligns perfectly with the 'tear-down' criteria.
Year Built
1959
Close
-
List price
$6.75M
Original List price
$7.5M
Price/Sqft
$3,613
HOA
-
Days on market
-
Sold On
-
MLS number
LG25162281
Home ConditionTear down
Features
Excellent View: Catalina, Coastline, Ocean, Panoramic
ViewCatalina, Coastline, Ocean, Panoramic

About this home

An incredible beachfront location being sold with approved plans, this property rests on a corner lot in one of the most desirable locations in West Newport. No special construction requirements or caissons needed to build in this location. Panoramic views stretch for miles: sandy beaches, Newport Pier, jetties, the endless Pacific Ocean and Catalina Island vistas. Watch waves crash from the comfort of your newly constructed home or enjoy beachfront living. Current plans by Rizzo Associates outline an approximately 1,412 square foot main residence and a ~564 square foot ADU, offering nearly two thousand square feet of flexible living space across three levels. Both spaces offer thoughtful layouts intended to maximize the on-the-sand location of this lot, with multiple outdoor spaces and a rooftop deck. Newport Beach lends itself well to part- and full-time living, with fantastic restaurants, world class shopping, famous surf spots, endless beaches, and easy airport access.

Nearby schools

8/10
Newport Heights Elementary School
Public,•K-6•1.7mi
9/10
Newport Elementary School
Public,•PK-6•1.8mi
7/10
Horace Ensign Intermediate School
Public,•7-8•1.6mi
7/10
Newport Harbor High School
Public,•9-12•1.8mi
Condition Rating
Tear down
The property was built in 1959, making it over 50 years old. The listing explicitly states it is being sold with approved plans for a new construction, implying the existing structure will 'likely require demolition and complete new construction.' The property's value is clearly based on the land and its redevelopment potential, not the current dwelling. There are no interior images of the existing structure, and the provided images include a rendering of the proposed new build and aerial shots of the location, further indicating the current structure is not intended for habitation or renovation. This aligns perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Prime Beachfront Location: This property boasts an incredible beachfront, corner lot location in highly desirable West Newport, offering direct access to the sand and ocean.
Spectacular Panoramic Views: Enjoy breathtaking panoramic views stretching for miles, including sandy beaches, Newport Pier, jetties, the endless Pacific Ocean, and Catalina Island.
Pre-Approved Development Plans: The sale includes approved plans by Rizzo Associates for a new 1,412 sqft main residence and a 564 sqft ADU, significantly streamlining the development process.
Simplified Construction Requirements: A key advantage is that no special construction requirements or caissons are needed to build in this location, potentially reducing construction time and costs.
Exceptional Lifestyle & Amenities: Located in Newport Beach, residents will benefit from world-class dining, shopping, famous surf spots, endless beaches, and convenient airport access.

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 = 1860, living area = 1868.
Requires Full Redevelopment: The property is being sold primarily for its land and approved plans, implying the existing 1959 structure will likely require demolition and complete new construction.
Substantial Additional Investment: The listed price does not include the significant financial investment required to construct the new main residence and ADU according to the approved plans.
Extended Occupancy Timeline: Buyers must anticipate a considerable waiting period for construction completion before the property becomes move-in ready, delaying immediate occupancy.

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