4802 Neptune Ave Newport Beach, CA 92663 New

UPDATED: 08/13/2026 01:30 PM ON MARKET: 2 days on market

$4,050,000

6 Beds4 Baths2,304 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,304 sqft

Price per Sqft $1,757

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID LG26176637

Bedrooms 6

Full Baths 4

Construction Status Turnkey

HOA Y/N No

Year Built 1962

Lot Size 3,358 Sqft

Property Sub-Type Duplex

Location

State CA

County Orange

Area Np - Balboa Peninsula

Rooms

Main Level Bedrooms 3

Interior

Interior Features Balcony,Block Walls,Ceiling Fan(s),Granite Counters,Living Room Deck Attached,Open Floorplan,Recessed Lighting,Entrance Foyer

Heating Central

Cooling Central Air

Fireplaces Type None

Fireplace No

Appliance Built-In Range,Dishwasher,Disposal

Laundry Inside

Exterior

Parking Features Door-Single,Driveway,Garage Faces Front,Garage

Garage Spaces 2.0

Garage Description 2.0

Fence Block,Wood

Pool None

Community Features Street Lights,Suburban,Water Sports

Waterfront Description Across the Road from Lake/Ocean

View Y/N Yes

View Ocean,Peek-A-Boo

Porch Brick,Concrete

Total Parking Spaces 2

Private Pool No

Building

Lot Description 2-5 Units/Acre

Dwelling Type Duplex

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Level or Stories Two

New Construction No

Construction Status Turnkey

Schools

School District Newport Mesa Unified

Others

Senior Community No

Tax ID 42446311

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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.

Based on information from California Regional Multiple Listing Service, Inc. as of 2026 and/or other resource. 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 of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.