2516 Bayside Dr Newport Beach, CA 92625
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,550 sqft
Price per Sqft $2,156
MLS Listing ID OC-26216438
Style Mid Century Modern
Bedrooms 5
Full Baths 5
Year Built 1972
Lot Size 3,540 Sqft
Property Sub-Type Single Family Residence
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Positioned on an approximately 3,540-square-foot lot, the property enjoys prominent harbor views and additional on-site parking while currently offering two 2-bedroom, 2-bath residences plus a studio, with projected gross rental income of approximately $14,000 per month, or $168,000 annually. Two of the three units are currently vacant, with only the larger 2-bedroom residence tenant-occupied, providing a future owner with added flexibility for leasing, personal use, or future redevelopment while determining the optimal timing for construction.
The property's defining opportunity is its fully approved architectural plans for an approximately 3,500-square-foot, three-level contemporary single-family residence, with the building permit ready for pickup. Originally designed by Brandon Architects and subsequently completed and finalized by Horst Architects, the residence has been thoughtfully conceived to maximize the property's harbor views and exceptional coastal setting. Renderings included in the listing photos are conceptual architectural renderings of the approved proposed residence and are provided for illustrative purposes only.
The sophisticated design features expansive glazing and seamless indoor-outdoor living, a dramatic great room with fireplace, and a large eat-in kitchen with island and pantry. The residence offers four full bedrooms and four full bathrooms, including en-suite secondary bedrooms and a luxurious primary suite with fireplace and walk-in closet, plus two additional powder rooms—one conveniently located on the main level and another on the rooftop. Additional highlights include an elevator, two-car garage, expansive outdoor living areas, and a spectacular rooftop entertaining deck complete with a covered cabana and powder room.
Unlike a typical development opportunity requiring a lengthy architectural, entitlement, and approval process, 2516 Bayside offers the flexibility of income today together with a substantially advanced path toward creating a new luxury residence.
Harbor views. Immediate income potential. Two units currently vacant. Fully approved plans. Building permit ready for pickup. An exceptional opportunity to create a signature coastal residence in Corona del Mar.
Location
State CA
County Orange
Area Cs - Corona Del Mar - Spyglass
Interior
Interior Features 2 Staircases, Attic Fan, Balcony, Ceiling Fan(s), Laminate Counters, Living Room Balcony, Unfurnished, Kitchen Island, Kitchen Open to Family Room
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Inclusions NEGOTIOABLE
Laundry Dryer Included, In Kitchen, Inside, Upper Level, Washer Included
Exterior
Exterior Feature Awning(s), Rain Gutters
Parking Features Direct Garage Access, Driveway
Garage Spaces 2.0
Pool None
Community Features Biking, Curbs, Gutters, Park, Sidewalks, Street Lights
Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Available, Electricity Connected
View Y/N Yes
View Bay, City Lights, Harbor, Ocean, Park/Greenbelt, Water
Building
Lot Description Sprinklers, Front Yard, Greenbelt, Lawn, Rectangular Lot, Sprinklers Timer, Tear Down, Value In Land, 2-5 Units/Acre
Sewer Public Sewer
Schools
Elementary Schools Harbor View
High Schools Corona Del Mar
School District Lincoln
Nearby Locations
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