706 W Oceanfront, Newport Beach, California 92661, Newport Beach, 92661 - 4 bed, 6 bath

706 W Oceanfront, Newport Beach, California 92661 home-pic-0
ACTIVE$18,350,000
706 W Oceanfront, Newport Beach, California 92661
4Beds
6Baths
4,270Sqft
4,200Lot

Price Vs. Estimate

The estimated value ($15,791,516.19) is $2,558,483.81 (13%) lower than the list price ($18,350,000). 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 = 4200, living area = 4270.

Compared to the nearby listings

Price:$18.35M vs avg $4.22M (+$14,125,000)96%
Size:4,270 sqft vs avg 2,046 sqft92%
Price/sqft:$4.3K vs avg $2.8K92%

More Insights

Built in 2023 (2 years old).
Condition: This property was newly built in 2023, making it brand new. The listing explicitly states 'top-tier craftsmanship and cutting-edge technology' throughout. The kitchen is a 'chef’s kitchen equipped with Miele, Wolf, and Sub-Zero appliances,' and the bathrooms feature 'spa-like' amenities including an infrared sauna and Kohler Veil commodes. Images confirm modern, high-end finishes, limestone flooring, contemporary light fixtures, and a pristine, move-in ready condition with no deferred maintenance. The property also boasts a Lutron smart home system and a solar system with Tesla batteries, indicating superior quality and modern features in every aspect.
Year Built
2023
Close
-
List price
$18.35M
Original List price
$18.35M
Price/Sqft
$4,297
HOA
-
Days on market
-
Sold On
-
MLS number
NP25057409
Home ConditionExcellent
Features
Excellent View: Bay, Ocean
Deck
Patio
ViewBay, Ocean

About this home

Experience the pinnacle of beachfront luxury in this extraordinary home. One of fewer than twenty properties on the entire Newport Beach oceanfront boasting over 60 feet of prime frontage, this newly built (2023) architectural gem offers an unparalleled coastal living experience. With 4,270 square feet of meticulously designed living space, plus 1,083 square feet of deck space, this four-bedroom, four-bathroom estate (plus two powder baths) blends modern sophistication with breathtaking ocean views. Every inch of this home showcases top-tier craftsmanship and cutting-edge technology. Soaring 9-foot+ ceilings, limestone flooring, and wall-to-wall Fleetwood doors seamlessly connect the indoors with the spectacular beachfront surroundings. The primary suite is a true retreat, featuring a spa-like bath with an infrared sauna, Samsung AirDresser, his-and-her water closets with Kohler Veil commodes, and dual Brown Safes. The chef’s kitchen is equipped with Miele, Wolf, and Sub-Zero appliances and walk-in pantry, while the bonus room includes a sink, fridge/freezer drawers, and an ice maker. A gym with panoramic ocean views makes every workout extraordinary. Designed for effortless luxury, this estate is outfitted with a Lutron smart home system, whole house water filtration system, electronic shades, WiFi, and a cellular booster. A rooftop deck with a full outdoor kitchen (BBQ, refrigerator, ice maker, sink) provides mesmerizing ocean and bay views, making it the ultimate space for relaxation and entertainment. This home is not only stunning but also highly efficient, featuring a 33-panel solar system with two Tesla solar batteries for backup power. The Boutique Luxury elevator, Fleetwood windows and doors, flush baseboards with reglet detail, and custom trestle interior doors with concealed hinges further highlight the precision and quality of this extraordinary residence. With a three-car air conditioned garage, there is ample space for vehicles and storage, ensuring both convenience and security. This one-of-a-kind double-lot estate offers an unrivaled oceanfront location, providing an exclusive opportunity to own a premier property on the Newport Beach Oceanfront.

Nearby schools

9/10
Newport Elementary School
Public,PK-60.6mi
7/10
Horace Ensign Intermediate School
Public,7-81.1mi
7/10
Newport Harbor High School
Public,9-121.4mi
Condition Rating
Excellent

This property was newly built in 2023, making it brand new. The listing explicitly states 'top-tier craftsmanship and cutting-edge technology' throughout. The kitchen is a 'chef’s kitchen equipped with Miele, Wolf, and Sub-Zero appliances,' and the bathrooms feature 'spa-like' amenities including an infrared sauna and Kohler Veil commodes. Images confirm modern, high-end finishes, limestone flooring, contemporary light fixtures, and a pristine, move-in ready condition with no deferred maintenance. The property also boasts a Lutron smart home system and a solar system with Tesla batteries, indicating superior quality and modern features in every aspect.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Unrivaled Oceanfront Location & Frontage: One of fewer than twenty properties on the entire Newport Beach oceanfront boasting over 60 feet of prime frontage, combined with a double-lot estate, offers exceptional exclusivity and direct beach access.
New Construction & Architectural Excellence: Built in 2023, this 'architectural gem' showcases 'top-tier craftsmanship,' 'modern sophistication,' and high-quality materials such as limestone flooring and wall-to-wall Fleetwood doors.
Comprehensive Smart Home & Luxury Amenities: Equipped with a Lutron smart home system, a Boutique Luxury elevator, a chef's kitchen featuring Miele, Wolf, and Sub-Zero appliances, and a spa-like primary suite with an infrared sauna.
Expansive Outdoor Living & Panoramic Views: Offers 1,083 square feet of deck space, including a rooftop deck with a full outdoor kitchen, providing 'mesmerizing ocean and bay views,' complemented by a gym with panoramic ocean views.
Advanced Energy Efficiency: Features a '33-panel solar system with two Tesla solar batteries for backup power,' ensuring sustainability and potentially reduced utility costs.

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 = 4200, living area = 4270.
Significant Overpricing: The current listing price of $18.35 million is 13% above the estimated property value, which may impact market interest and sales duration.
Limited Buyer Pool: The property's ultra-luxury status, unique features, and premium price point target a highly exclusive demographic, potentially resulting in a longer time on the market.
High Ongoing Ownership Costs: As a newly built, high-value oceanfront estate in Newport Beach, prospective buyers should anticipate substantial annual property taxes, insurance premiums, and maintenance expenses.

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