21 Harbor Island, Newport Beach, California 92660, Newport Beach, - bed, bath

home-pic
ACTIVE$29,500,000
21 Harbor Island, Newport Beach, California 92660
0Bed
0Bath
100Sqft
8,863Lot
Year Built
1937
Close
-
List price
$29.5M
Original List price
$29.5M
Price/Sqft
-
HOA
$16,740.5
Days on market
-
Sold On
-
MLS number
NP25022338
Home ConditionTear down
Features
Excellent View: Bay, City Lights, Harbor, Water
ViewBay,City Lights,Harbor,Water

About this home

On offer is one of two lots from this iconic bayfront estate, being presented here in the form of one fifty-foot wide parcel with the address of 21 Harbor Island. Situated on Harbor Island - Newport Beach's most sought after address - and overlooking the main turning basin, this parcel features the very best views and the very best location one will ever find in Newport Beach on the water. This is a singular opportunity to acquire an unbuilt lot in an ultra-prime location upon which to create one's dream home on the bay. The building envelope is substantial and is complemented by a mature garden with stately trees and long green lawn running down to the water's edge. A relocated and reconfigured dock will accommodate up to an 85' yacht - possibly longer. No subdivision is necessary, as the lots have always been independent and were never merged. The home on the adjacent lot (20 Harbor Island) is available as part of a package offering of both lots for $59,000,000.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (116 Listings)
Beds04
Baths04
Square foot1002,781
1%
Lot Size8,8637,700
71%
Price$29.5M$3.9M
99%
Price per square foot$295K$1,391
99%
Built year19371971
2%
HOA$17K
1%
Days on market279156
95%
Condition Rating
Tear down

The property was built in 1937 and is being sold as a lot for redevelopment. The listing focuses on the land and its potential, suggesting the existing structure is outdated and likely requires demolition. No interior images are provided, further supporting the assessment that the existing structure is not a selling point.
Pros & Cons

Pros

Prime Bayfront Location: Situated on Harbor Island, Newport Beach's most desirable address, offering unparalleled views and location on the water.
Substantial Building Envelope: The unbuilt lot allows for the creation of a substantial dream home on the bay, providing ample space for customization.
Dock Accommodations: A relocated and reconfigured dock can accommodate up to an 85' yacht, catering to boating enthusiasts.
Mature Garden: Features a mature garden with stately trees and a long green lawn running down to the water's edge, enhancing the property's aesthetic appeal.
Exceptional Views: Offers expansive and unobstructed views of the harbor, city lights, and bay, significantly enhancing the property's appeal.

Cons

Existing Structure Condition: The property includes a structure built in 1937 that is likely outdated and may require demolition or significant renovation.
High Price Point: The listing price of $29,500,000 represents a significant investment, potentially limiting the pool of prospective buyers.
Redevelopment Required: Requires significant redevelopment to realize its full potential, adding time, cost, and complexity to the project.

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