Nestled on an oversized, 48’ wide corner lot along the prestigious Balboa Peninsula, this exceptional bayfront home offers unparalleled waterfront living with breathtaking views of Newport Harbor. This highly desirable residence features a private dock and a stunning pier with a rare covered gazebo, perfect for Al fresco dining. The thoughtfully designed 3-bedroom, 4-bathroom home is bathed in natural light from skylights throughout, enhancing its airy and inviting ambiance. The luxurious master suite boasts panoramic harbor views, a private deck, a cozy seating area, and a spa-like en suite bathroom. Two additional bedrooms each have access to the back deck with a charming peek-a-boo ocean view. The beautifully appointed kitchen overlooks the bay and living room - which features a fireplace, as well as sliding doors opening out to the expansive front patio, ideal for seamless indoor-outdoor living. Completing this remarkable home is a den with a wet bar, small basement, and a spacious 3-car attached garage. Just steps to the sand and all of the activities, fine dining, and attractions Newport Beach has to offer - this is the perfect blend of elegance, comfort, and prime waterfront living.
Sold for $15,550,000
Listed by: Pacific Sotheby's Int'l Realty • Kimberly Bibb • Contact: 949-554-1200
Bought with: Coldwell Banker Realty
$15,550,000
1240 W Bay Ave, Newport Beach, CA 92661
3beds
3,196sqft
Single Family Residence
Built in 1994
5,136 Square Feet Lot
$15,773,200 Zestimate®
$4,865/sqft
$7,655 Estimated rent
Home value
$15,773,200
$14.51M - $17.19M
$7,655/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Kimberly Bibb DRE #01210754 714-396-0185,
Pacific Sotheby's Int'l Realty
Bought with:
Stephen Mortensen, DRE #01813078
Coldwell Banker Realty
Source: CRMLS,MLS#: NP25060307
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
- Full bathrooms: 2
- 3/4 bathrooms: 2
- Main level bathrooms: 1
Rooms
- Room types: Atrium, Bedroom, Den, Great Room, Kitchen, Primary Bathroom, Primary Bedroom, Other, Dining Room
Bedroom
- Features: All Bedrooms Up
Bathroom
- Features: Bathtub, Dual Sinks, Separate Shower, Vanity, Walk-In Shower
Kitchen
- Features: Kitchen Island, Kitchen/Family Room Combo
Other
- Features: Walk-In Closet(s)
Heating
- Fireplace(s)
Cooling
- None
Appliances
- Included: Built-In Range, Double Oven, Dishwasher, Freezer, Disposal, Gas Range, Microwave, Refrigerator
- Laundry: Washer Hookup, Gas Dryer Hookup, In Garage
Features
- Wet Bar, Balcony, Ceiling Fan(s), Separate/Formal Dining Room, Open Floorplan, Bar, All Bedrooms Up, Atrium, Walk-In Closet(s)
- Flooring: Carpet, Tile
- Windows: Bay Window(s)
- Has fireplace: Yes
- Fireplace features: Gas, Living Room
- Common walls with other units/homes: No Common Walls
Interior area
- Total interior livable area: 3,196 sqft
Property
Parking
- Total spaces: 3
- Parking features: Door-Multi, Direct Access, Garage, Garage Faces Rear
- Attached garage spaces: 3
Accessibility
- Accessibility features: Safe Emergency Egress from Home
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Patio & porch: Concrete, Deck, Patio
- Exterior features: Dock
- Pool features: None
- Spa features: None
- Has view: Yes
- View description: Bay, City Lights, Pier
- Has water view: Yes
- Water view: Bay,Pier
- Waterfront features: Bayfront, Dock Access
Lot
- Size: 5,136 Square Feet
- Features: 0-1 Unit/Acre, Corner Lot, Landscaped
Details
- Additional structures: Gazebo
- Parcel number: 04723201
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Roof: Clay,Tile
Condition
- New construction: No
- Year built: 1994
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Biking, Curbs, Fishing, Sidewalks, Water Sports
- Subdivision: Balboa Peninsula (Residential) (Balp)
Location
- Region: Newport Beach
Financial & listing details
- Price per square foot: $4,865/sqft
- Tax assessed value: $15,861,000
- Date on market: 3/26/2025
- Cumulative days on market: 1 day
- Listing terms: Cash,Cash to Existing Loan,Cash to New Loan,Conventional
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 4/28/2025 | Sold | $15,550,000-4.3%$4,865/sqft |
Source:  CRMLS #NP25060307 Report a problem | ||
| 4/9/2025 | Pending sale | $16,250,000$5,084/sqft |
Source: CRMLS #NP25060307 Report a problem | ||
| 3/26/2025 | Listed for sale | $16,250,000$5,084/sqft |
Source: CRMLS #NP25060307 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $15,861,000 +1974.7% |
| 2025 | $8,416 +1.7% | $764,514 +2% |
| 2024 | $8,278 +2.4% | $749,524 +2% |
| 2023 | $8,083 +1.7% | $734,828 +2% |
| 2022 | $7,946 +1.9% | $720,420 +2% |
| 2021 | $7,795 +1% | $706,295 +1% |
| 2020 | $7,720 | $699,053 +2% |
| 2019 | $7,720 +2% | $685,347 +2% |
| 2018 | $7,565 +3.8% | $671,909 +2% |
| 2017 | $7,287 | $658,735 +2% |
| 2016 | $7,287 +2.3% | $645,819 +1.5% |
| 2015 | $7,125 +3.4% | $636,119 +2% |
| 2014 | $6,891 | $623,659 +0.5% |
| 2013 | -- | $620,841 +2% |
| 2012 | -- | $608,668 +2% |
| 2011 | -- | $596,734 +0.8% |
| 2010 | -- | $592,275 -0.2% |
| 2009 | -- | $593,683 +2% |
| 2008 | -- | $582,043 +2% |
| 2007 | -- | $570,631 +2% |
| 2006 | -- | $559,443 +2% |
| 2005 | -- | $548,474 +2% |
| 2004 | -- | $537,720 +1.9% |
| 2003 | -- | $527,865 +2% |
| 2002 | -- | $517,515 +2% |
| 2001 | $5,241 +2.6% | $507,368 +2% |
| 2000 | $5,109 | $497,420 |
Find assessor info on the county website
Neighborhood: 92661
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Nearby schools
GreatSchools rating
- 8/10Newport Elementary SchoolGrades: K-6Distance: 0.1 mi
- 9/10Horace Ensign Intermediate SchoolGrades: 7-8Distance: 0.8 mi
- 9/10Newport Harbor High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- High: Newport Harbor
Source: CRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$15,773,200
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Estimated market value
$15,773,200
- California
- Orange County
- Newport Beach
- 92661
- 1240 W Bay Ave
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