Tour
#NP25006320, Allison Root, Listing Office: Compass
$3,679,000 List price
1245 W Balboa Blvd Newport Beach, CA 92661
2 beds
2 full
432 sqft
0.07 acres
$8,516 / sqft
House
Property details
About 1245 W Balboa Blvd
Ocean View Beach Cottage with Approved Plans for a Luxury Home on Balboa Peninsula Welcome to your dream property, just one row from the ocean with stunning views from the roof deck! This unique opportunity offers a charming beach cottage and a detached efficiency studio, perfect for immediate use or rental income. The property is located off a spacious 20-foot alley on a generous 31-foot wide by 102-foot-long lot, providing ample space and privacy. The beach cottage was completely remodeled in 2020, featuring new windows and a new roof, ensuring a comfortable and modern living experience. But the real gem of this property lies in its future potential. The owners have fully approved construction drawings from the City of Newport Beach, ready for a brand-new, three-story single-family dwelling. Imagine living in a luxurious new home designed with every modern convenience in mind. The new home design includes four spacious bedrooms, each with its own full bath, and two additional powder rooms for guests. The attached Accessory Dwelling Unit (ADU) offers its own entry and patio, perfect for extended family or rental income. The home also features a stunning three-story glass elevator, making every level easily accessible. With a total of 2,924 sq. ft. in the main house and an additional 533 sq. ft. in the ADU, there is plenty of room for everyone. The new construction will provide four off-street parking spaces, including an attached 2-car garage and a 2-car carport, ensuring ample parking for residents and guests. The second level boasts two decks, one with breathtaking ocean views, while the third level features an expansive 852 sq. ft. roof deck. This incredible outdoor space includes a powder room, appliances, BBQ, fire pit, and is designed for a hot tub, making it the perfect spot for entertaining or relaxing while enjoying the ocean views. The Peninsula is a scenic three-mile stretch with the harbor on one side and sandy beaches on the other. The area is primarily residential with some commercial areas, offering a mix of waterfront restaurants, local surf shops, and some of the best nightlife in Newport Beach. The permits are ready, and the property is set to move forward with construction. Act now! We have recently reduced the price by $40,000, making this an even more incredible opportunity. Do not miss out on this rare chance to own a piece of paradise with endless potential. Contact us today to learn more and schedule a viewing!
Highlights
Home typeSingle Family Residence
HeatingBaseboard
StatusActive
Size432 sqft
Lot size0.0731 Acres
Year built1924
ParkingOn Site, Off Street, One Space
MLS #NP24127815
Summary
- MLS Number: NP24127815
- MLS Name: CRMLS
- Office Name: Pacific OC Properties
- Office Email: dpearson@pacificocproperties.com
- Listing Agent: Darwin Pearson
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/15/2025, 12:55:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$3,679,000
1245 W Balboa Blvd
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Jul 08, 2022 | Home Sold | $2,100,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $2,346,000 | $25,628 |
| 2023 | $2,300,000 | $25,417 |
| 2022 | $91,654 | $2,062 |
| 2021 | $89,857 | $2,323 |
| 2020 | $88,936 | $2,305 |
| 2019 | $87,193 | $2,387 |
| 2018 | $85,484 | $2,387 |
| 2017 | $83,808 | $2,363 |
History based on county public records data.
Nearby schools
8
Newport Elementary School
Public District KG-6
0.1 mi
•1327 W Balboa Blvd
7
Newport Heights Elementary School
Public District KG-6
1.5 mi
•300 E 15th St
7
Mariners Elementary School
Public District KG-6
1.9 mi
•2100 Mariners Dr
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $110,552. The most common annual income of people living in Newport Beach, CA is between $35k-100k. The most common type of family is single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
11%
<35k
33%
35k-100k
29%
100k-200k
27%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
68%
Single, No Kids
6%
Single, with Kids
19%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
6%
<11 yrs old
5%
12-17 yrs old
36%
18-34 yrs old
39%
35-64 yrs old
14%
65+ yrs old
What do the neighbors do for fun?
Art Museums
Music Concerts
Live Theatre
Where do the neighbors shop?
Bloomingdales
H&M
Banana Republic
Where do the neighbors go to eat?
Starbucks
Chipotle
Boston Market
What do the neighbors drive?
Audi
Volkswagen
Mercedes
What do the neighbors listen to?
News
Rhythmic Contemporary Hits
Jazz
All data provided by Home Junction and Claritas
Similar homes for sale
#OC25065530, Tara McNabb, Listing Office: Compass
#NP25008539, Timothy Carr, Listing Office: Pacific Sotheby's Int'l Realty
#NP25045726, Jennifer Norminton, Listing Office: Compass
Tour
#LG25047863, John Stanaland, Listing Office: DOUGLAS ELLIMAN OF CALIFORNIA, INC.
#SB25031620, Edward Kaminsky, Listing Office: eXp Realty of California, Inc
#OC25040695, Keven Stirdivant, Listing Office: Kase Real Estate
#NP24120927, Olga Matthews, Listing Office: Pacific Sotheby's Int'l Realty
#NP25020448, Evan Corkett, Listing Office: Pacific Sotheby's Int'l Realty
#NP25025089, Jon Flagg, Listing Office: Pacific Sotheby's Int'l Realty
Frequently asked questions
About 1245 W Balboa Blvd
This home is located at 1245 W Balboa Blvd in Newport Beach, CA and zip code 92661 in the Central Newport Beach neighborhood. This 432 square foot home, which was built in 1924, sits on a 0.07 acre lot. Features: 2 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since June 23, 2024 and is currently priced at $3,679,000.
In March 2025, from all listings sold in Newport Beach, CA there were more than 14 sold above asking price, over 54 sold below and more than 26 were sold right at the asked price. Between February and March 2025, Newport Beach, CA real estate market has seen increase in the number of listings by 3.8%. The median list price of listings available in March 2025 was $3,578,461, while the average time on the real estate market was 43 days.
From Rocket Homes Real Estate and based on county public records data.