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714 627-4334
First Team Real Estate
1002 E Balboa Boulevard, Newport Beach, CA 92661
- $7,995,000
- 4
- BD
- 4
- BA
- 2,987
- SqFt
- List Price
- $7,995,000
- Status
- ACTIVE
- MLS#
- NP26239064
- Year Built
- 1928
- Bedrooms
- 4
- Bathrooms
- 4
- Living Sq. Ft
- 2,987
- Lot Size
- 3,825
- Acres
- 0.09
- Lot Location
- Street Level, Value In Land, Walkstreet
- Days on Market
- 2
- Property Type
- Single Family Residential
- Property Sub Type
- Single Family Residence
- Stories
- Two Levels
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property Description
An exceptional opportunity to acquire a premier bayfront property on Newport Beach’s coveted Balboa Peninsula, just a short stroll from the heart of Balboa Village. Situated directly on the bay, this 3,825-square-foot parcel features approximately 45 feet of frontage, offering an impressive footprint and tremendous potential in one of Southern California’s most desirable waterfront locations. The existing single-family residence features 4 bedrooms, 3.5 bathrooms, and approximately 2,987 square feet of living space. The home was lifted and substantially rebuilt in 1995, providing an opportunity for a buyer to enjoy the existing residence while updating and modernizing the property to suit their personal vision. For those seeking a larger-scale project, the property also presents an exciting redevelopment opportunity. According to information provided by the City of Newport Beach, the site may accommodate a newly constructed residence exceeding 5,000 square feet of interior living space. Additionally, there may be an opportunity to construct a private dock, further enhancing its appeal as a premier waterfront estate. The location is truly exceptional, with the bay at your doorstep and the Pacific Ocean just blocks away. Balboa Village’s renowned restaurants, boutique shops, and iconic boardwalk are all within easy walking distance, along with the Balboa Island Ferry, Balboa Fun Zone, and some of Newport Beach’s most celebrated beaches. With limited opportunities for bayfront ownership and continued demand for luxury waterfront residences, this property offers exceptional flexibility for builders, developers, and discerning end users alike. Whether upgrading the existing residence, undertaking a thoughtful renovation, or pursuing a custom-built waterfront estate, the possibilities are compelling. Buyer to independently verify all aspects of the property, including existing improvements, potential buildable square footage, development feasibility, dock construction, zoning, setbacks, and all required permits and approvals with the City of Newport Beach and other applicable governmental agencies. All development potential is subject to buyer investigation and approval.
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Additional Information
- Appliances
- Electric Oven, Electric Range
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- Bay, Back Bay, Bridge(s), Canal, City Lights, Coastline, Hills, Marina, Neighborhood, Ocean, Panoramic, Water
- Exterior Construction
- Wood Siding
- Patio
- Patio
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- School District
- Newport Mesa Unified
- Elementary School
- Newport
- Middle School
- Ensign
- High School
- Newport Harbor
- Interior Features
- Ceiling Fan(s), Tile Counters
- Attached Structure
- Detached
- Number Of Units Total
- 1
Listing courtesy of Listing Agent: Arthur Dorr (artie@gobalboa.com) from Listing Office: Balboa Realty.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.