807 Aldebaran Circle, Newport Beach, California 92660, Newport Beach, 92660 - 6 bed, 4 bath
ACTIVE$4,995,000
807 Aldebaran Circle, Newport Beach, California 92660
6Beds
4Baths
3,298Sqft
11,984Lot
Price Vs. Estimate
The estimated value ($4,204,966.43) is $790,033.57 (15%) lower than the list price ($4,995,000). This property may be overpriced.
Key pros and cons
Top Pros:
Great Schools: Elementary School: Eastbluff Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Top Cons:
Incomplete Renovation/Significant Project: The house is currently under renovation with only preliminary interior demolition and HMA completed, requiring the buyer to undertake a substantial construction project.
Compared to the nearby listings
Price:$5.00M vs avg $3.85M (+$1,147,000)68%
Size:3,298 sqft vs avg 2,673.5 sqft65%
Price/sqft:$1.5K vs avg $1.4K59%
More Insights
Built in 1966 (59 years old).
Condition: The property, built in 1966, is currently undergoing renovation with 'preliminary interior demo and HMA completed,' as stated in the description. The provided images confirm this, showing the interior stripped down to the studs with no finished kitchens or bathrooms. The house is unlivable in its current state. The listing also explicitly offers the alternative to 'build a spectacular new home on this enormous and rare parcel,' indicating that the property's value is largely based on the land and its redevelopment potential, rather than the existing structure. This aligns with the 'Tear-down' criteria of being unlivable, requiring demolition (which has already partially occurred internally), and the value being primarily in the land.
Year Built
1966
Close
-
List price
$5M
Original List price
$5M
Price/Sqft
$1,515
HOA
$1,383
Days on market
-
Sold On
-
MLS number
NP25099415
Home ConditionTear down
Features
Patio
ViewNeighborhood
About this home
Located in one of Dover Shores’ most sought after cul-de-sac locations, this oversized 'double' lot of over 12,000 square feet is a rare opportunity in this highly desirable community. The existing house is under renovation and is ready for a new buyer to complete. The 3,300 square foot single story residence - originally designed as a 6 bedroom 4 bath - has had the preliminary interior demo and HMA completed. Make this generously-scaled floorplan your own by selecting finishes and details. Alternatively, one can build a spectacular new home on this enormous and rare parcel. This is not a build-to-suit offering, but rather a chance to take over mid-way through this process and create an amazing home while building equity. Call listing agent for details and to arrange for a private showing.
Nearby schools
8/10
Mariners Elementary School
Public,•PK-6•0.7mi
/10
Woodland Elementary School
Public,•PK-2•1.0mi
9/10
Eastbluff Elementary School
Public,•K-6•1.2mi
8/10
Heinz Kaiser Elementary School
Public,•3-6•1.2mi
7/10
Horace Ensign Intermediate School
Public,•7-8•1.6mi
9/10
Corona Del Mar High School
Public,•7-12•1.0mi
7/10
Newport Harbor High School
Public,•9-12•1.2mi
Condition Rating
Tear down
The property, built in 1966, is currently undergoing renovation with 'preliminary interior demo and HMA completed,' as stated in the description. The provided images confirm this, showing the interior stripped down to the studs with no finished kitchens or bathrooms. The house is unlivable in its current state. The listing also explicitly offers the alternative to 'build a spectacular new home on this enormous and rare parcel,' indicating that the property's value is largely based on the land and its redevelopment potential, rather than the existing structure. This aligns with the 'Tear-down' criteria of being unlivable, requiring demolition (which has already partially occurred internally), and the value being primarily in the land.
Pros & Cons
Pros
Great Schools: Elementary School: Eastbluff Elementary School (9/10). High School: Corona Del Mar High School (9/10).
Exceptional Lot Size & Rarity: The property boasts an oversized 'double' lot of over 12,000 square feet, presenting a rare and valuable opportunity in this desirable community.
Prime Cul-de-Sac Location: Situated in one of Dover Shores’ most sought-after cul-de-sac locations, offering exclusivity and desirability within Newport Beach.
Customization & New Build Potential: Buyers have the unique flexibility to complete the existing renovation to their exact specifications or build a spectacular new custom home on the expansive parcel.
Equity Building Opportunity: The offering explicitly provides a chance for the new owner to create an amazing home while building significant equity through the completion process.
Generous Single-Story Footprint: The existing 3,300 square foot single-story residence, originally designed as a 6-bedroom, 4-bath home, offers a substantial and highly functional floorplan.
Cons
Incomplete Renovation/Significant Project: The house is currently under renovation with only preliminary interior demolition and HMA completed, requiring the buyer to undertake a substantial construction project.
Substantial Additional Investment Required: Beyond the purchase price, significant capital and effort will be necessary to complete the renovation and make the property move-in ready.
Potential Overpricing Relative to Current State: The listing price of $4.995M is 15% higher than the estimated property value of $4.204M, suggesting it may be priced for its future potential rather than its current 'as-is' condition.