428 Holmwood Drive, Newport Beach, California 92663, Newport Beach, - bed, bath
ACTIVE$2,690,000
428 Holmwood Drive, Newport Beach, California 92663
2Beds
1Bath
1,063Sqft
7,140Lot
Year Built
1947
Close
-
List price
$2.69M
Original List price
$2.8M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NP25128641
Home ConditionTear down
Features
Good View: None
View-
About this home
Don’t miss this exceptional opportunity to build a brand-new home tailored to your vision on a generously sized lot in Newport Heights, one of the most coveted neighborhoods in Newport Beach. Experience the best of coastal living, just minutes away from world-class beaches, top-rated schools, upscale shopping, fine dining, and everything that makes Newport Beach a globally renowned destination. This is your opportunity to create something truly special in one of Southern California's most iconic coastal communities.
Nearby schools
8/10
Newport Heights Elementary School
Public,•K-6•1.3mi
7/10
Horace Ensign Intermediate School
Public,•7-8•0.7mi
7/10
Newport Harbor High School
Public,•9-12•0.7mi
Price History
Date
Event
Price
08/13/25
Price Change
$2,690,000
06/19/25
Listing
$2,800,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (79 Listings) | |
|---|---|---|---|
| Beds | 2 | 4 | 10% |
| Baths | 1 | 4 | 6% |
| Square foot | 1,063 | 2,613 | 6% |
| Lot Size | 7,140 | 3,739 | 81% |
| Price | $2.69M | $4.75M | 18% |
| Price per square foot | $2,531 | $1,849.5 | 76% |
| Built year | 1947 | 9800981 | 13% |
| HOA | |||
| Days on market | 139 | 188 | 33% |
Condition Rating
Tear down
The property was built in 1947, making it over 70 years old. The listing description explicitly states it's an 'exceptional opportunity to build a brand-new home tailored to your vision,' strongly indicating that the value lies in the land for redevelopment rather than the existing structure. There are no interior images provided, which is a significant red flag suggesting the interior is in unmarketable or very poor condition, likely original or severely outdated. The exterior images show an older, unrenovated home consistent with its age. Given the age, the marketing focus on building new, and the absence of interior photos, the current structure is considered beyond economical repair or renovation to meet modern standards.
Pros & Cons
Pros
Prime Location: Situated in Newport Heights, one of Newport Beach's most coveted neighborhoods, offering proximity to world-class beaches, upscale shopping, and fine dining.
Redevelopment Opportunity: Exceptional opportunity to build a brand-new, custom-tailored home, explicitly highlighted as the property's primary value proposition.
Generous Lot Size: A substantial 7,140 sqft lot provides ample space for a significant new construction in a high-demand coastal area.
Top-Rated Schools: Located within the Newport Mesa Unified School District with access to highly-rated elementary, middle, and high schools.
Potential Ocean View: The property offers a distant ocean view over rooftops, which can be further optimized with new construction.
Cons
Tear-Down Condition: The existing 1947 structure is in tear-down condition, requiring complete demolition and new construction, adding significant upfront costs.
High Total Investment: The list price of $2.69M is for the land/tear-down, necessitating a substantial additional investment for custom home construction.
Extensive Project Scope: Requires a full custom home build, demanding considerable time, effort, and project management from the buyer.