Seller's Agent in 2019
John Cain
Pacific Sothebys
(714) 655-8940
1 in this area
215 Total Sales
507 W Edgewater Ave Newport Beach, CA 92661
Central Newport Beach NeighborhoodEstimated Value: $6,903,000 - $9,511,000
5
Beds
4.5
Baths
3,897
Sq Ft
$2,174/Sq Ft
Est. Value
Highlights
- Private Dock Site
- Property Fronts a Bay or Harbor
- Open Floorplan
- Newport Elementary School Rated A
- Primary Bedroom Suite
- Maid or Guest Quarters
About This Home
As of March 2019Presenting 507 W. Edgewater: a stunning custom-built 5 bedroom, 4 ½ bath estate with expansive, unobstructed main channel & turning basin views in one of Orange County’s most prime & sought-after locations. Situated on a rare, corner lot, this elegant yet current design effortlessly exudes the southern California lifestyle of seamless indoor/outdoor living. At nearly 3,900 square feet, the light-filled property boasts attention to detail, creating a striking canvas for the finest materials and finishes. The exterior is beautifully detailed with smooth hand-colored & applied stucco, stone masonry highlights & slate roof reminiscent of a French style chateau. With 50 feet of bay frontage, recently redone seawall & private dock designed for a 63' vessel & a side tie, grassy area & a roomy patio for alfresco dining, this home was created for year-round entertaining. Handsome limestone & hardwood flooring flow throughout the open floor plan & accentuate the numerous highlights, including a gorgeous staircase with wrought iron design, stone-clad fireplace, custom wood built-ins in the living room, state of the art chef’s kitchen with professional-grade appliances, custom wood cabinetry & stone counters, & a generous master suite featuring panoramic harbor & water views. Large guest rooms, upstairs laundry room, whole-house surround sound, 2-car garage, & close proximity to world class shopping, dining & pristine beaches make this property the ultimate coastal waterfront retreat.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $88,425
Year Built
- Built in 2003
Lot Details
- 3,500 Sq Ft Lot
- Property Fronts a Bay or Harbor
- Fenced
- Fence is in good condition
- Corner Lot
Parking
- 2 Car Attached Garage
- Parking Available
- Rear-Facing Garage
- Single Garage Door
Property Views
- Bay
- Harbor
- Bridge
- City Lights
- Woods
- Neighborhood
Home Design
- French Architecture
- Turnkey
- Shake Roof
- Slate Roof
- Stucco
Interior Spaces
- 3,897 Sq Ft Home
- Open Floorplan
- Wired For Sound
- Wired For Data
- Built-In Features
- Crown Molding
- Coffered Ceiling
- Formal Entry
- Family Room Off Kitchen
- Living Room with Fireplace
- Dining Room
- Home Office
- Fire and Smoke Detector
Kitchen
- Open to Family Room
- Gas Oven
- Six Burner Stove
- Gas Cooktop
- <<microwave>>
- Freezer
- Dishwasher
- Kitchen Island
- Stone Countertops
- Trash Compactor
Flooring
- Wood
- Stone
Bedrooms and Bathrooms
- 5 Bedrooms | 1 Main Level Bedroom
- Fireplace in Primary Bedroom
- Primary Bedroom Suite
- Jack-and-Jill Bathroom
- Maid or Guest Quarters
Laundry
- Laundry Room
- 220 Volts In Laundry
Outdoor Features
- Private Dock Site
- Balcony
- Patio
- Exterior Lighting
- Rain Gutters
Schools
- Newport Elementary School
- Ensign Middle School
- Newport Harbor High School
Utilities
- Zoned Heating and Cooling
- Cable TV Available
Additional Features
- Doors swing in
- Suburban Location
Community Details
- No Home Owners Association
- Laundry Facilities
Listing and Financial Details
- Tax Lot 109
- Tax Tract Number 220
- Assessor Parcel Number 04805239
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 2, 2018
Closed on
Feb 27, 2019
Sold by
Scorziell Eugene C and Scorziell Lisa M
Bought by
507 W Edgewater Llc
Seller's Agent
John Cain
Pacific Sotheby's Int'l Realty
Buyer's Agent
John Cain
Pacific Sotheby's Int'l Realty
List Price
$8,995,000
Sold Price
$7,650,000
Premium/Discount to List
-$1,345,000
-14.95%
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
$823,443
Avg. Annual Appreciation
-0.47%
Original Mortgage
$4,000,000
Outstanding Balance
$3,551,971
Interest Rate
4.4%
Mortgage Type
Commercial
Estimated Equity
$3,874,222
Purchase Details
Closed on
Feb 13, 2007
Sold by
Scorziell Eugene C and Scorziel Lisa M
Bought by
Scorziell Eugene C and Scorziell Lisa M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$750,000
Interest Rate
7.25%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Oct 22, 2003
Sold by
Pelican Bluffs Llc
Bought by
Scorziell Eugene C and Scorziell Lisa M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,046,250
Interest Rate
3.71%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Oct 1, 1999
Sold by
Von Oppenheim Nann
Bought by
Method Art Corp
Purchase Details
Closed on
May 12, 1995
Sold by
Method Art Corp
Bought by
Vonoppenheim Nann and Vonoppenheim Tex
Purchase Details
Closed on
Sep 8, 1994
Sold by
Method Art Corp
Bought by
Vonoppenheim Tex and Vonoppenheim Nann
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
7.37%
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 507 W Edgewater Llc | $7,650,000 | Ticor Title Company | |
| Scorziell Eugene C | -- | First American Title Co | |
| Scorziell Eugene C | $5,395,000 | Fidelity National Title Co | |
| Method Art Corp | -- | Fidelity National Title Ins | |
| Vonoppenheim Nann | -- | -- | |
| Vonoppenheim Tex | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | 507 W Edgewater Llc | $4,000,000 | |
| Previous Owner | Scorziell Eugene C | $1,300,000 | |
| Previous Owner | Scorziell Eugene C | $3,000,000 | |
| Previous Owner | Scorziell Eugene C | $1,500,000 | |
| Previous Owner | Scorziell Eugene C | $750,000 | |
| Previous Owner | Scorziell Eugene C | $4,046,250 | |
| Previous Owner | Vonoppenheim Tex | $500,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/25/2019 03/25/19 | Sold | $7,650,000 | -4.3% | $1,963 / Sq Ft |
| 02/27/2019 02/27/19 | Pending | -- | -- | -- |
| 01/31/2019 01/31/19 | Price Changed | $7,995,000 | -11.1% | $2,052 / Sq Ft |
| 08/02/2018 08/02/18 | For Sale | $8,995,000 | -- | $2,308 / 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 | $88,425 | $8,366,391 | $7,364,195 | $1,002,196 |
| 2023 | $86,365 | $8,202,345 | $7,219,799 | $982,546 |
| 2022 | $84,946 | $8,041,515 | $7,078,234 | $963,281 |
| 2021 | $83,312 | $7,883,839 | $6,939,445 | $944,394 |
| 2020 | $82,514 | $7,803,000 | $6,868,289 | $934,711 |
| 2019 | $72,652 | $6,876,256 | $6,117,104 | $759,152 |
| 2018 | $71,198 | $6,741,428 | $5,997,161 | $744,267 |
| 2017 | $69,935 | $6,609,244 | $5,879,570 | $729,674 |
| 2016 | $68,355 | $6,479,651 | $5,764,284 | $715,367 |
| 2015 | $67,718 | $6,382,321 | $5,677,699 | $704,622 |
| 2014 | $66,119 | $6,257,301 | $5,566,481 | $690,820 |
Source: Public Records
Agents Affiliated with this Home
-
John Cain
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC18186730
APN: 048-052-39
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