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5901 Seashore Drive, Newport Beach, California 92663, Newport Beach, 92663 - bed, bath

5901 Seashore Drive, Newport Beach, California 92663 home-pic-0
ACTIVE$9,900,000
5901 Seashore Drive, Newport Beach, California 92663
0Bed
0Bath
3,185Sqft
2,700Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Unrivaled Oceanfront Location & Views: This property boasts one of only two finest oceanfront corner lots in West Newport, situated on a quiet, non-boardwalk white sand beach, offering spectacular panoramic ocean, coastline, Catalina, and pier views without obstruction.
Top Cons:
Incomplete Renovations: The upper unit requires completion of kitchen and bath remodels, necessitating immediate capital investment to meet luxury standards expected at this price point.

Compared to the nearby listings

Price:$9.90M vs avg $3.20M (+$6,700,000)92%
Size:3,185 sqft vs avg 2,440 sqft88%
Price/sqft:$3.1K vs avg $1.5K96%

More Insights

Built in 1965 (60 years old).
Condition: Built in 1965, the property is 59 years old. The MLS description explicitly states that 'KITCHEN, BATH REMODELS NOT COMPLETED' in the upper unit, indicating a need for substantial rehabilitation in these critical areas. The 'Mid-Century Design & Age' also suggests significant updates are required beyond just completing the remodels to align with modern preferences and amenities, necessitating considerable investment to make the property fully functional and appealing.
Year Built
1965
Close
-
List price
$9.9M
Original List price
$10.9M
Price/Sqft
$3,108
HOA
-
Days on market
-
Sold On
-
MLS number
SB25186431
Home ConditionPoor
Features
Excellent View: Catalina, Coastline, Ocean, Panoramic, Pier
Deck
ViewCatalina, Coastline, Ocean, Panoramic, Pier

About this home

ORIGINAL LIST PRICE $10,900,000, NOW...$9,900,000, ONE OF ONLY 2 OF THE FINEST OCEAN FRONT CORNERS IN WEST NEWPORT, PROVIDES ALL DAY SUN FROM THE LARGEST LOT ON QUIET, UNCROWDED WHITE SAND NON-BOARDWALK BEACH, WITH SPECTACULAR PANORAMIC OCEAN/COASTLINE VIEWS FROM THE NEWPORT PIER TO PT. FERMIN IN FRONT WITH NO HOMES BEHIND. IMPROVED WITH 2 OCEAN FRONT MID-CENTURY NATURAL LIGHT FILLED CONTEMPORARY UNITS (CAN'T BE DUPLICATED). UPPER: 3 BEDROOMS, 1-3/4 BATHS, FAMILY ROOM, LARGE DECK, BREATHTAKING VIEWS; KITCHEN, BATH REMODELS NOT COMPLETED; PROFORMA $13,000/MO, LOWER: 3 BEDROOMS, 1-3/4 BATHS FRONT PATIO/YARD, OCEAN VIEWS.TENANT OCCUPIED, $6,675/MO., 3 CAR GARAGE (CAN'T BE DUPLICATED), AND 3/4 BEACH BATH. POTENTIAL: COMPLETE UPPER UNIT KITCHEN, BATH RENOVATIONS, ENJOY AS IS. RENOVATE FOR USE AS A DUPLEX OR A SINGLE-FAMILY RESIDENCE WITH ADU. CONVERT OWNERSHIP TO TENANT IN COMMON (TIC) WHICH CREATES SEPARATE UNDIVIDED PERCENTAGE OWNERSHIP INTEREST FOR UPPER AND LOWER UNIT THAT CAN BE INDIVIDUALLY BOUGHT AND SOLD. BUILD A WORLD-CLASS HOME PERFECTLY LOCATED "FRONT ROW" ON THE OCEAN TO ALL THE WONDERFUL EXPERIENCES NEWPORT BEACH HAS TO OFFER.

Nearby schools

8/10
Newport Heights Elementary School
Public,•K-6•2.0mi
9/10
Newport Elementary School
Public,•PK-6•2.1mi
7/10
Horace Ensign Intermediate School
Public,•7-8•1.9mi
7/10
Newport Harbor High School
Public,•9-12•2.0mi
Condition Rating
Poor
Built in 1965, the property is 59 years old. The MLS description explicitly states that 'KITCHEN, BATH REMODELS NOT COMPLETED' in the upper unit, indicating a need for substantial rehabilitation in these critical areas. The 'Mid-Century Design & Age' also suggests significant updates are required beyond just completing the remodels to align with modern preferences and amenities, necessitating considerable investment to make the property fully functional and appealing.
Pros & Cons

Pros

Unrivaled Oceanfront Location & Views: This property boasts one of only two finest oceanfront corner lots in West Newport, situated on a quiet, non-boardwalk white sand beach, offering spectacular panoramic ocean, coastline, Catalina, and pier views without obstruction.
Exceptional Lot Size & Rarity: Featuring the largest lot on this exclusive stretch of beach and a rare 3-car garage, the property offers unparalleled space and uniqueness that cannot be duplicated in this prime location.
Significant Income & Investment Flexibility: Comprising two oceanfront units with strong rental income potential (proforma $13,000/mo for upper, $6,675/mo for lower), the property offers versatile options for continued duplex use, conversion to a single-family residence with ADU, or Tenant-In-Common (TIC) ownership.
High-Value Redevelopment Potential: The prime location and expansive lot present an outstanding opportunity to build a world-class luxury single-family home, perfectly positioned 'front row' on the ocean.
Recent Price Adjustment: A substantial price reduction from the original $10,900,000 to $9,900,000 enhances its value proposition, making it a more attractive investment for discerning buyers.

Cons

Incomplete Renovations: The upper unit requires completion of kitchen and bath remodels, necessitating immediate capital investment to meet luxury standards expected at this price point.
Mid-Century Design & Age: Built in 1965, the existing mid-century units, while unique, may require significant updates beyond the noted incomplete remodels to align with contemporary luxury buyer preferences and modern amenities.
Tenant Occupancy: The lower unit is currently tenant-occupied, which could introduce complexities or delays for immediate owner-occupancy or comprehensive renovation plans for the entire property.

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