1245 W Balboa Blvd, Newport Beach, CA, 92661
About This Home
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, 5 bedroom, three-story single-family dwelling. Imagine living in a luxurious new home designed with every modern convenience in mind. The new home design includes five spacious bedrooms, each with its own full bath, and two additional powder rooms for guests. The first floor Family/Game room with bedroom, full bathroom, laundry and kitchenette is designed (per current design code) to easily be converted to an ADU (after future City approval). It offers its own entry and patio, perfect for extended family or rental income if preferred. The home also features a stunning three-story glass elevator, making every level easily accessible. With a total of 3477sq. ft. in the main house including 533 sq. ft. in the Family/Game room area, 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.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1924
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Gas Range,Gas Water Heater,Refrigerator,Range Hood,Vented Exhaust Fan
- Laundry features: Outside
Bathroom
- Features: Bathroom Exhaust Fan,Separate Shower
Bedroom
- Features: All Bedrooms Down
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 2
Features
- All Bedrooms Down
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Heating & Cooling
- Heating features: Baseboard
- Cooling features: None
Interior Area
- Total interior livable area: 432 sqft
Property
Accessibility
- Accessibility features: None
Details
- Parcel number: 04724102
- Special condition: Standard
Features
- Levels: One
- Stories: 1
- Entry location: Front and Rear
- Pool features: None
- Patio & porch: Front Porch
- Has view: Yes
- View description: None
Lot
- Lot size: 3,184 sqft
- Features: Front Yard,Level,Near Park,Near Public Transit,Street Level,Yard
Parking
- Total spaces: 1
- Parking features: On Site
- Uncovered spaces: 1
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Earthquake
- Inland Flooding
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Orange County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $18,962 | $227,544 |
| Home Insurance * | $249 | $2,988 |
| Property Taxes | $3,335 | $40,020 |
| Electricity | $398 | $4,786 |
| Total | $22,944 | $275,328 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-04 | Listing removed | $3,500 |
| 2026-04-29 | Price change | $3,500 |
| 2026-04-19 | Price change | $3,939,000 |
| 2026-03-28 | Price change | $3,949,000 |
| 2026-03-17 | Price change | $3,999,000 |
| 2026-02-11 | Listed for rent | $3,750 |
| 2025-11-12 | Price change | $4,149,000 |
| 2025-08-19 | Listed for sale | $4,199,000 |
| 2024-05-03 | Listing removed | -- |
| 2024-04-08 | Listed for rent | $3,750 |
| 2023-05-15 | Listing removed | -- |
| 2023-04-25 | Price change | $3,500 |
| 2023-03-09 | Price change | $3,750 |
| 2023-03-07 | Listed for rent | $4,000 |
| 2022-09-26 | Listing removed | -- |
| 2022-09-10 | Price change | $3,500 |
| 2022-08-29 | Price change | $3,750 |
| 2022-08-15 | Price change | $4,000 |
| 2022-08-05 | Price change | $4,500 |
| 2022-08-03 | Listed for rent | $5,000 |
| 2022-07-08 | Sold | $2,100,000 |
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