1303 E Balboa Boulevard, Newport Beach, California 92661, Newport Beach, - bed, bath

home-pic
ACTIVE$8,000,000
1303 E Balboa Boulevard, Newport Beach, California 92661
3Beds
3Baths
2,562Sqft
2,400Lot
Year Built
1972
Close
-
List price
$8M
Original List price
$8M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NP24195328
Home ConditionFair
Features
Excellent View: Catalina, Ocean, Water
Deck
Patio
ViewCatalina, Ocean, Water

About this home

Located past the last turnout on the boardwalk at Peninsula Point, this highly desired location is close enough to walk to many of the area's most desirable amenities yet also private and serene. The oversized lot affords this spacious and meticulously kept home featuring an "upside down" floor plan with living areas on both levels. Perfect for entertaining at the beach, it includes a family room opening to a large terrace on the beach level. Upstairs, there are vaulted ceilings and a fireplace in the very large, open-concept great room overlooking the coastline and ocean. The Catalina and sunset views are not to be missed. The home also includes a spacious master suite upstairs, two additional bedrooms with a bath downstairs, a guest bath, laundry room, and an amazing oversized garage with parking for three cars and over-height ceilings ideal for beach storage. The elevation change on the lot - which is a rarity among oceanfront properties in Newport - affords extra buildability which has been captured in this structure. This home is very well-kept and is ideal for those looking to personalize a home without having to build new. The location is excellent and is close to world-famous Wedge, the Balboa Pier, Balboa Island, and several neighborhood parks. The beach here is very deep and rarely attracts the crowds found elsewhere on the peninsula. This is an extraordinary opportunity for such a location, and priced attractively for the value-conscious buyer.

Nearby schools

9/10
Newport Elementary School
Public,PK-61.6mi
7/10
Horace Ensign Intermediate School
Public,7-81.9mi
7/10
Newport Harbor High School
Public,9-122.1mi

Price History

Date
Event
Price
09/24/24
Listing
$8,000,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (24 Listings)
Beds33
50%
Baths34
44%
Square foot2,5622,562
50%
Lot Size2,4002,625
24%
Price$8M$6.55M
68%
Price per square foot$3,123$2,912
56%
Built year19721991
32%
HOA
Days on market407212
96%
Condition Rating
Fair

Built in 1972, this home is described as 'meticulously kept' and 'very well-kept,' indicating good maintenance. However, the visible bathroom features (e.g., light blue/green tiled shower, beadboard paneling, traditional vanity) appear dated, suggesting a renovation that occurred 15-30 years ago rather than a recent one. While functional and clean, these elements show signs of being outdated. The living areas, with vaulted ceilings and exposed beams, are well-maintained but also reflect an older aesthetic. The description mentions it's 'ideal for those looking to personalize,' which aligns with a 'Fair' condition where minor updates are desired to modernize the style, particularly in key areas like the kitchen (which is not pictured but likely aligns with the bathroom's age) and bathrooms.
Pros & Cons

Pros

Prime Oceanfront Location: Situated at Peninsula Point, this highly desired and private location offers serene beach access, walkability to amenities, and proximity to iconic Newport Beach attractions like The Wedge and Balboa Pier.
Stunning Panoramic Views: The property boasts breathtaking coastline, ocean, Catalina Island, and sunset views, particularly from the upstairs great room, significantly enhancing its appeal.
Unique & Functional Layout: Features an 'upside down' floor plan with living areas on both levels, including a spacious master suite upstairs and a family room opening to a large beach-level terrace, ideal for entertaining.
Exceptional Parking & Storage: An amazing oversized garage provides parking for three cars and over-height ceilings, offering ample space for vehicles and beach equipment storage.
Rare Lot Advantage: The lot's unique elevation change, a rarity for oceanfront properties in Newport, has been utilized to afford extra buildability, contributing to the home's spacious structure.

Cons

Potential for Modernization Costs: Built in 1972, while well-kept, the property may require significant investment to update aesthetics and systems to meet contemporary luxury standards, as indicated by its suitability for those 'looking to personalize'.
Limited Absolute Lot Size: Despite being described as 'oversized' within its specific context, the 2,400 sqft lot is relatively small for an $8M single-family residence, potentially limiting expansive private outdoor living options.
High Price Point & Niche Market: The $8,000,000 list price targets a very specific, ultra-luxury buyer demographic, which can lead to a longer market time compared to properties in lower price tiers.

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