1245 W Balboa Blvd Newport Beach, CA 92661
Central Newport Beach NeighborhoodEstimated payment $22,298/month
Total Views
14,920
2
Beds
2
Baths
432
Sq Ft
$8,354
Price per Sq Ft
Highlights
- Private Yard
- No HOA
- Baseboard Heating
- Newport Elementary School Rated A
- Laundry Room
- 2-minute walk to Newport Beach Playground
About This Home
Ocean View Beach Cottage with Approved Plans for a Luxury Home on Balboa Peninsula Welcome to your dream property, just one row from the ocean with stunning views from the roof deck! This unique opportunity offers a charming beach cottage and a detached efficiency studio, perfect for immediate use or rental income. The property is located off a spacious 20-foot alley on a generous 31-foot wide by 102-foot-long lot, providing ample space and privacy.The beach cottage was completely remodeled in 2020, featuring new windows and a new roof, ensuring a comfortable and modern living experience. But the real gem of this property lies in its future potential. The owners have fully approved construction drawings from the City of Newport Beach, ready for a brand-new, three-story single-family dwelling.Imagine living in a luxurious new home designed with every modern convenience in mind. The new home design includes four spacious bedrooms, each with its own full bath, and two additional powder rooms for guests. The attached Accessory Dwelling Unit (ADU) offers its own entry and patio, perfect for extended family or rental income. The home also features a stunning three-story glass elevator, making every level easily accessible.With a total of 2,924 sq. ft. in the main house and an additional 533 sq. ft. in the ADU, there is plenty of room for everyone. The new construction will provide four off-street parking spaces, including an attached 2-car garage and a 2-car carport, ensuring ample parking for residents and guests. The second level boasts two decks, one with breathtaking ocean views, while the third level features an expansive 852 sq. ft. roof deck. This incredible outdoor space includes a powder room, appliances, BBQ, fire pit, and is designed for a hot tub, making it the perfect spot for entertaining or relaxing while enjoying the ocean views.The Peninsula is a scenic three-mile stretch with the harbor on one side and sandy beaches on the other. The area is primarily residential with some commercial areas, offering a mix of waterfront restaurants, local surf shops, and some of the best nightlife in Newport Beach. The permits are ready, and the property is set to move forward with construction. Act now! We have recently reduced the price by $40,000, making this an even more incredible opportunity. Do not miss out on this rare chance to own a piece of paradise with endless potential. Contact us today to learn more and schedule a viewing!
Last Listed By
Pacific OC Properties Brokerage Email: dpearson@pacificocproperties.com License #01993679 Listed on: 06/23/2024
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $25,628
Year Built
- Built in 1924
Lot Details
- 3,184 Sq Ft Lot
- Lot Dimensions are 31 x 102.5
- Rectangular Lot
- Level Lot
- Private Yard
- Front Yard
- Density is up to 1 Unit/Acre
- Value in Land
- Tear Down
- Property is zoned R2
Interior Spaces
- 432 Sq Ft Home
- 1-Story Property
Kitchen
- Gas Range
- Free-Standing Range
- Microwave
- Laminate Countertops
- Disposal
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
- Laundry Located Outside
Parking
- Parking Available
- On-Site Parking
- Parking Lot
- Off-Street Parking
Outdoor Features
- Exterior Lighting
Utilities
- Baseboard Heating
- Underground Utilities
- Natural Gas Connected
- Gas Water Heater
- Septic Type Unknown
- Phone Available
Listing and Financial Details
- Legal Lot and Block 13 / 12
- Tax Tract Number 234
- Assessor Parcel Number 04724102
- $1,010 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
Recreation
- Water Sports
- Bike Trail
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $25,628 | $2,346,000 | $2,295,000 | $51,000 |
| 2023 | $25,417 | $2,300,000 | $2,250,000 | $50,000 |
| 2022 | $2,063 | $91,654 | $83,147 | $8,507 |
| 2021 | $2,323 | $89,857 | $81,516 | $8,341 |
| 2020 | $2,306 | $88,936 | $80,680 | $8,256 |
| 2019 | $2,301 | $87,193 | $79,098 | $8,095 |
| 2018 | $2,388 | $85,484 | $77,547 | $7,937 |
| 2017 | $2,364 | $83,808 | $76,026 | $7,782 |
| 2016 | $2,351 | $82,165 | $74,535 | $7,630 |
| 2015 | $2,576 | $80,931 | $73,415 | $7,516 |
| 2014 | $2,531 | $79,346 | $71,977 | $7,369 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/31/2025 05/31/25 | Price Changed | $3,609,000 | -0.3% | $8,354 / Sq Ft |
| 05/23/2025 05/23/25 | Price Changed | $3,619,000 | -0.3% | $8,377 / Sq Ft |
| 05/18/2025 05/18/25 | Price Changed | $3,629,000 | -0.3% | $8,400 / Sq Ft |
| 05/09/2025 05/09/25 | Price Changed | $3,639,000 | -0.3% | $8,424 / Sq Ft |
| 05/04/2025 05/04/25 | Price Changed | $3,649,000 | -0.3% | $8,447 / Sq Ft |
| 04/25/2025 04/25/25 | Price Changed | $3,659,000 | -0.3% | $8,470 / Sq Ft |
| 04/15/2025 04/15/25 | Price Changed | $3,669,000 | 0.0% | $8,493 / Sq Ft |
| 04/09/2025 04/09/25 | Off Market | $4,125 | -- | -- |
| 04/09/2025 04/09/25 | For Sale | $3,679,000 | 0.0% | $8,516 / Sq Ft |
| 04/08/2025 04/08/25 | Off Market | $3,679,000 | -- | -- |
| 03/28/2025 03/28/25 | Price Changed | $3,679,000 | -0.3% | $8,516 / Sq Ft |
| 03/13/2025 03/13/25 | Price Changed | $3,689,000 | -0.3% | $8,539 / Sq Ft |
| 03/07/2025 03/07/25 | Price Changed | $3,699,000 | -0.3% | $8,563 / Sq Ft |
| 03/01/2025 03/01/25 | Price Changed | $3,709,000 | -0.3% | $8,586 / Sq Ft |
| 02/14/2025 02/14/25 | Price Changed | $3,719,000 | 0.0% | $8,609 / Sq Ft |
| 02/09/2025 02/09/25 | For Rent | $4,125 | 0.0% | -- |
| 02/06/2025 02/06/25 | Price Changed | $3,729,000 | -0.3% | $8,632 / Sq Ft |
| 01/28/2025 01/28/25 | Price Changed | $3,739,000 | -0.3% | $8,655 / Sq Ft |
| 01/20/2025 01/20/25 | Price Changed | $3,749,000 | -0.3% | $8,678 / Sq Ft |
| 01/03/2025 01/03/25 | Price Changed | $3,759,000 | -0.3% | $8,701 / Sq Ft |
| 12/28/2024 12/28/24 | Price Changed | $3,769,000 | -0.3% | $8,725 / Sq Ft |
| 12/16/2024 12/16/24 | Price Changed | $3,779,000 | -0.3% | $8,748 / Sq Ft |
| 12/09/2024 12/09/24 | Price Changed | $3,789,000 | -0.3% | $8,771 / Sq Ft |
| 09/30/2024 09/30/24 | Price Changed | $3,799,000 | -1.3% | $8,794 / Sq Ft |
| 08/19/2024 08/19/24 | Price Changed | $3,850,000 | -3.8% | $8,912 / Sq Ft |
| 06/23/2024 06/23/24 | For Sale | $4,000,000 | -- | $9,259 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Lawyers Title | |
| Grant Deed | $2,100,000 | Lawyers Title | |
| Interfamily Deed Transfer | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,540,000 | New Conventional | |
| Previous Owner | $0 | New Conventional |
Source: Public Records
Similar Homes in the area
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP24127815
APN: 047-241-02
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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