308 Grand Canal Newport Beach, CA 92662
Balboa Island NeighborhoodEstimated Value: $8,628,000 - $8,968,000
3
Beds
4.5
Baths
2,181
Sq Ft
$4,018/Sq Ft
Est. Value
Highlights
- Property Fronts a Bay or Harbor
- Wine Cellar
- Heated Floor in Bathroom
- Abraham Lincoln Elementary School Rated A
- Ocean Side of Highway 1
- Fireplace in Primary Bedroom
About This Home
As of April 2022An exquisite Balboa Island residence poised to deliver the very best of Newport Beach living. Set within the coveted "Little Island," this pristine waterfront oasis offers 30’ of frontage and a private dock accommodating a vessel up to 18’. Swoon-worthy interiors by renowned designer Michael Smith span approximately 2,181 square feet over three levels and incorporate stylish touches such as hand-carved fireplace mantels, bespoke draperies, custom window treatments, wall coverings, and designer faucets/fixtures throughout. Anchored by a custom fireplace, the open-plan living area is accoutered with beamed ceilings, accordion glass doors, stone flooring, built-in shelving, and electric Lutron shades that open to reveal a soothing backdrop of the bay. Outside, entertain and dine al fresco in the heated covered patio made for year-round enjoyment. Tailored to modern tastes, the chef’s kitchen is dressed in stone countertops, subway tile backsplash, white shaker cabinetry, heated floors, and built-in Wolf and Sub-Zero appliances. Rounding out the main level is a breakfast nook, half bath, and 84-bottle wine room with storage racks. A curved wooden staircase rises to the second level where all three generously proportioned en suite bedrooms reside including the opulent fireplace-warmed primary suite equipped with two large walk-in California Closets, spa-like bath outfitted in marble, heated floors, discrete built-in refrigerator, and accordion glass doors that lead to a private wrap-around balcony with heated flooring. Crowning the home on the third floor is an exercise room with an en suite bath and an executive office featuring wood flooring and lighted, built-in display cases and cabinets. Beyond, the view roof deck is the idyllic entertainment venue with covered and uncovered spaces serviced by a kitchenette for easy hosting. Additional highlights include an ELEVATOR servicing all three levels, Control4 AV and lighting system, Hikvision security camera system, Electrolux washer/dryer, TOTO toilet/bidet, and two-car garage with built-in cabinets/storage. Set near picturesque beaches, shopping, dining, Lido House Hotel, and championship golf courses, in an exclusive waterfront community, the dream comes alive at 308 Grand Canal.
Last Agent to Sell the Property
Coldwell Banker Realty License #01346878 Listed on: 02/19/2022
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $84,139
Year Built
- Built in 2017
Lot Details
- 2,175 Sq Ft Lot
- Property Fronts a Bay or Harbor
- Density is up to 1 Unit/Acre
Parking
- 2 Car Attached Garage
- Parking Available
- Rear-Facing Garage
- Single Garage Door
Home Design
- Turnkey
Interior Spaces
- 2,181 Sq Ft Home
- 3-Story Property
- Elevator
- Built-In Features
- Beamed Ceilings
- Recessed Lighting
- Custom Window Coverings
- Blinds
- Wine Cellar
- Family Room Off Kitchen
- Living Room with Fireplace
- Home Office
- Home Gym
- Bay Views
- Home Security System
Kitchen
- Breakfast Area or Nook
- Open to Family Room
- Eat-In Kitchen
- Walk-In Pantry
- Double Oven
- Six Burner Stove
- Built-In Range
- Warming Drawer
- Freezer
- Kitchen Island
- Stone Countertops
Flooring
- Wood
- Stone
Bedrooms and Bathrooms
- 3 Bedrooms
- Fireplace in Primary Bedroom
- Walk-In Closet
- Heated Floor in Bathroom
- Dual Vanity Sinks in Primary Bathroom
- Private Water Closet
- Multiple Shower Heads
- Walk-in Shower
Laundry
- Laundry Room
- Laundry on upper level
Outdoor Features
- Ocean Side of Highway 1
- Balcony
- Deck
- Patio
Utilities
- Central Heating and Cooling System
- Standard Electricity
Listing and Financial Details
- Tax Lot 5
- Tax Tract Number 742
- Assessor Parcel Number 05020209
- $364 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- Balboa Island Little Island Subdivision
Recreation
- Water Sports
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 19, 2022
Closed on
Apr 13, 2022
Sold by
Jeffrey S Moorad Living Trust
Bought by
Grand Canal Associates Gp
Seller's Agent
Tim Smith
Coldwell Banker Realty
Buyer's Agent
Tim Smith
Coldwell Banker Realty
List Price
$8,495,000
Sold Price
$7,650,000
Premium/Discount to List
-$845,000
-9.95%
Total Days on Market
44
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,114,127
Avg. Annual Appreciation
4.44%
Purchase Details
Closed on
Nov 23, 2021
Sold by
Moorad Jeffrey S
Bought by
Moorad Jeffrey S and Jeffrey S Moorad Living Trust
Purchase Details
Closed on
Apr 13, 2017
Sold by
S & C Grand 308 Llc
Bought by
Moorad Jeffrey S
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,468,750
Interest Rate
4%
Mortgage Type
Commercial
Purchase Details
Closed on
May 6, 2015
Sold by
Grosslight Steven F and Grosslight Kathleen Lee
Bought by
S & C Grand 308 Llc
Purchase Details
Closed on
May 6, 2014
Sold by
Grosslight Steven F and Grosslight Kathleen L
Bought by
Grosslight Steven F and Grosslight Kathleen Lee
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
4.38%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 16, 2013
Sold by
Davidson John W
Bought by
Grosslight Steven F and Grosslight Kathleen L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
4.25%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 8, 2001
Sold by
Davidson Sylvia N
Bought by
Davidson Sylvia N and The Davidsons Survivors Trust
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Interest Rate
7.08%
Mortgage Type
Credit Line Revolving
Similar Homes in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Grand Canal Associates Gp | $7,650,000 | Fidelity National Title | |
| Moorad Jeffrey S | -- | None Available | |
| Moorad Jeffrey S | $4,625,000 | First American Title Co | |
| S & C Grand 308 Llc | -- | None Available | |
| Grosslight Steven F | -- | First American Title Company | |
| Grosslight Steven F | $2,100,000 | Fatco Ofs | |
| Davidson Sylvia N | -- | Stewart Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Grand Canal Associates Gp | $2,500,000 | |
| Previous Owner | Moorad Jeffrey S | $3,465,000 | |
| Previous Owner | Moorad Jeffrey S | $3,468,750 | |
| Previous Owner | Grosslight Steven F | $500,000 | |
| Previous Owner | Grosslight Steven F | $1,000,000 | |
| Previous Owner | Davidson Sylvia N | $250,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/15/2022 04/15/22 | Sold | $7,650,000 | -4.3% | $3,508 / Sq Ft |
| 03/18/2022 03/18/22 | Price Changed | $7,995,000 | -5.9% | $3,666 / Sq Ft |
| 02/19/2022 02/19/22 | For Sale | $8,495,000 | -- | $3,895 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $84,139 | $7,959,060 | $6,762,600 | $1,196,460 |
| 2023 | $82,179 | $7,803,000 | $6,630,000 | $1,173,000 |
| 2022 | $52,451 | $4,958,934 | $4,100,576 | $858,358 |
| 2021 | $50,439 | $4,766,373 | $3,941,345 | $825,028 |
| 2020 | $49,955 | $4,717,500 | $3,900,931 | $816,569 |
| 2019 | $49,883 | $4,717,500 | $3,900,931 | $816,569 |
| 2018 | $48,884 | $4,625,000 | $3,824,442 | $800,558 |
| 2017 | $27,547 | $2,583,086 | $2,298,886 | $284,200 |
| 2016 | $24,842 | $2,333,854 | $2,253,810 | $80,044 |
| 2015 | $22,959 | $2,141,958 | $2,083,118 | $58,840 |
| 2014 | -- | $2,100,000 | $2,042,312 | $57,688 |
Source: Public Records
Agents Affiliated with this Home
-
Tim Smith
Seller's Agent in 2022
Tim Smith
Coldwell Banker Realty
(949) 717-4711
4 in this area
718 Total Sales
-
Don Abrams
Seller Co-Listing Agent in 2022
Don Abrams
Abrams Coastal Properties
(714) 325-9055
68 in this area
95 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP22032556
APN: 050-202-09
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