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Turn-key, newly renovated 2,214 sq ft single-family home on a huge 8,100 sq ft flat, rectangular cul-de-sac lot in prime Newport Beach"”cash-flow on day one with multiple value-add exits. Major capital items are DONE: new plumbing, new roof, new central A/C, dual-pane windows & doors, new kitchen, two heavily renovated baths + one renovated, new LVP floors, extensive recessed lighting, fresh interior & exterior paint, and a drywalled/finished garage with epoxy flooring. Bright, airy layout with 3 bedrooms downstairs plus a large upstairs bonus room currently used as a legal second primary suite. A giant backyard anchors the quiet cul-de-sac location"”ideal for outdoor living and future expansion. Income & Upside: Long-term lease potential in the $12,000-$15,000/month range; mid-term furnished (3-6 months) targets $25,000/month for executive/relocation stays. ADU potential adds another cash-flow lever, with a backyard ADU concept at $200,000 generating $4,000/month in additional rent. Two proven value-add plays: (1) Add Square Footage (RTI): City-approved, shovel-ready plans to add ~1,000-1,200 sq ft; modeled ROI 45% and $1.0-$2.0M target profit (current underwriting upside $1.9M). (2) Scrape & Build New: Pursue a 6,000 sq ft custom (guidelines allow up to 8,500 sq ft). Area new construction has supported $1,900+/sf, with modeled ROI 70%+ (mid-case 72%) and $4.4-$5.6M profit potential. Location: Short walk to Upper Newport Bay (Back Bay) trails; the beach is a bike ride away; minutes to Fashion Island and John Wayne Airport with fast 73/55/405 access. Within family friendly Newport-Mesa School district. Offered at $3,425,000.
Property Type(s):
Residential Income
| Last Updated | 10/31/2025 | Tract | Harbor Highlands I (HH01) |
|---|---|---|---|
| Year Built | 1965 | Community | N7 - West Bay - Santa Ana Heights |
| Garage Spaces | 2.0 | County | Orange |
Additional Details
| AIR | Central Air, ENERGY STAR Qualified Equipment |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Convection Oven, Dishwasher, Disposal, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Free-Standing Range, Freezer, Gas Oven, Gas Range, Ice Maker, Microwave, Refrigerator, Self Cleaning Oven, Tankless Water Heater, Water Heater |
| AREA | N7 - West Bay - Santa Ana Heights |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Central, ENERGY STAR Qualified Equipment |
| INTERIOR | Ceiling Fan(s), In-Law Floorplan, Master Downstairs, Recessed Lighting |
| LOT | 8102 sq ft |
| LOT DESCRIPTION | Back Yard, Cul-De-Sac, Front Yard, Landscaped, Level, Rectangular Lot, Sprinklers In Front |
| PARKING | Direct Access, Driveway, Garage, Garage Door Opener |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Harbor Highlands I (HH01) |
| UTILITIES | Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected |
| WATER | Public |
Location
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Listed with John Mussen, Broker
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