4802 Neptune Ave, Newport Beach, CA 92663
- $4,050,000
- 6
- BD
- 4
- BA
- 2,304
- SqFt
- List Price
- $4,050,000
- Status
- ACTIVE
- MLS#
- LG26176637
- Year Built
- 1962
- Bedrooms
- 6
- Bathrooms
- 4
- Living Sq. Ft
- 2,304
- Lot Size
- 3,358
- Acres
- 0.08
- Lot Location
- 2-5 Units/Acre
- Days on Market
- 4
- Property Type
- Single Family Residential
- Style
- Contemporary
- Property Sub Type
- Duplex
- Stories
- Two Levels
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property Description
This is a rare investment opportunity just steps from the beach and surf in one of Newport Beach’s most desirable coastal communities. An appraisal conducted on June 19, 2026, valued the property at $4,050,000. The appraisal was performed by a Certified Member of the Appraisal Institute (MAI) and utilized all three approaches to value. This property is one of the few oversized lots in the area, offering significant potential for value enhancement. The backyard has ample space to add an additional accessory dwelling unit (ADU). Another option is to redevelop the site to build several new units, both of which could effectively maximize the potential of this large lot. Furthermore, the property presents an excellent opportunity for use as a primary residence. The upstairs can be used as a primary living space while renting out the lower unit as an income-producing property. Each of these options offers considerable value addition, whichever route you choose to pursue. These property features will allow for an effective and stable exit strategy in the future. Additionally, the home features a two-car attached garage and offers a peak ocean view from the patio. Conveniently located one street back from the beach, it is just a leisurely walk to Marina Village, fine dining, shops, and the harbor. This is an amazing opportunity for both short- and long-term income investors.
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Additional Information
- Appliances
- Built-In Range, Dishwasher, Disposal
- Pool Description
- None
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- Ocean, Peek-A-Boo
- Patio
- Brick, Concrete
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- School District
- Newport Mesa Unified
- Interior Features
- Balcony, Block Walls, Ceiling Fan(s), Granite Counters, Living Room Deck Attached, Open Floorplan, Recessed Lighting, Entrance Foyer
- Attached Structure
- Attached
- Number Of Units Total
- 2
Listing courtesy of Listing Agent: Brendan Horgan (brendansean1111@gmail.com) from Listing Office: MEEHAN ESTATES, INC..
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