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$4,985,000

55 Montecito Drive
Corona Del Mar, CA 92625

For Sale|Single Family Home|Active
5 Beds
6 Baths
4991 SqFt
Built in 1973
81 Days Online
$998.80/SqFt
Subdivision:
Spyglass Hill (SPYH)
County:
Orange
Call Now: 949.607.8122
Is this the home for you? We can help make it yours.
949.607.8122
Upcoming Open Houses
2/23 10AM - 4PM
55 Montecito Drive55 Montecito Drive55 Montecito Drive55 Montecito Drive
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PRICE REDUCED!!! Enjoy panoramic sunset views of the Pacific Ocean, Catalina Island, Newport Harbor and Fashion Island from this elegant estate home in prestigious Spyglass Hill. Once inside the private gate, an expansive oasis including a pool and spa with waterfalls, barbecue area with seating, and lush palm trees soothe the senses. The stately front door is welcoming with a grand entryway, dramatic staircase, majestic ceilings, and three sets of French doors leading to a back patio with a secondary spa. This five bedroom, five and one half bathroom home features a master en-suite bedroom, secondary en-suite bedroom and den upstairs with balconies to capture ocean views and romantic night lights of the city. Downstairs there is a secondary master bedroom that leads to the patio with ocean views, two additional bedrooms (one en-suite & with outdoor access), two baths, powder bath, library, laundry room and a gym/bonus room with a door to the front pool area. The spacious chef's kitchen has appliances such as SubZero, modern wood cabinets and an eating bar that opens to the family room with a fireplace and additional dining area with sunset views. The living room which boasts a fireplace & bar and the separate dining room are perfect for entertaining in a formal or casual setting. Elegant estates of this quality and craftsmanship along with spectacular views in the coveted Corona del Mar community are so rare. Views like this always make an excellent investment!

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Listing Snapshot
Price
$4,985,000
Days Online
81 Days
Bedrooms
5
Inside Area (SqFt)
4,991 sqft
Total Baths
6
Partial Baths
1
Lot Size
0.3021 Acres
Year Built
1973
MLS Number
NP19275605
Property Tax
N/A
HOA/Condo/Coop Fees
$127 monthly
Sq Ft Source
N/A
Friends & Family
Recent Activity
19 hours agoListing updated with changes from the MLS
yesterdayPrice changed to $4,985,000
a month agoPrice changed to $5,099,000
3 months agoListing first seen online
General Features
Architectural Style
Mediterranean
Property Sub Type
Single Family Residence
On-Site Parking
Yes
Parking Features
Built-In StorageDirect Garage AccessDriveway - BrickDriveway Up Slope From StreetGarageGarage Faces FrontGarage - Two DoorGarage Door OpenerGated
Attached Garage
Yes
Stories
Two
Sewer
Public Sewer
Utilities
Cable AvailableCable ConnectedElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedPhone AvailablePhone ConnectedSewer AvailableSewer ConnectedUnderground UtilitiesWater AvailableWater Connected
Foundation
Slab
Zoning
R1
Listing Conditions
StandardTrust
Interior Features
Cooling
Central AirDualElectric
Heating
CentralForced AirNatural GasFireplace(s)
Fireplace
Yes
Fireplace Details
DenFamily RoomLiving RoomMaster BedroomMaster RetreatGasGas StarterFire Pit
Flooring
CarpetStone
Appliances
BarbecueBuilt-In RangeConvection OvenDishwasherDouble OvenFreezerDisposalGas RangeGas CooktopGas Water HeaterIndoor GrillIce MakerInstant Hot WaterMicrowaveRange HoodRefrigeratorVented Exhaust FanWarming DrawerWater HeaterWater Line to RefrigeratorWater Purifier
Accessibility Features
2+ Access Exits36 Inch Or More Wide Halls
Bathroom Features
BathtubBidetShowerShower in TubCloset in bathroomDouble Sinks In Master BathDual shower heads (or Multiple)Exhaust fan(s)Granite CountersJetted TubLinen Closet/StoragePrivacy toilet doorSeparate tub and showerSoaking TubStone CountersVanity areaWalk-in shower
Kitchen Features
Granite CountersKitchen IslandKitchen Open to Family RoomPots & Pan DrawersUtility sink
More Interior Features
BalconyBarBlock WallsBrick WallsBuilt-in FeaturesCathedral Ceiling(s)Coffered Ceiling(s)Crown MoldingDry BarGranite CountersHigh CeilingsLiving Room Deck AttachedOpen FloorplanRecessed LightingStone CountersStorageTwo Story CeilingsVacuum CentralWet BarWired for Data
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Exterior Features
Pool
Yes
Pool Features
PrivateFencedHeatedGas HeatIn GroundPebbleWaterfall
Patio/Deck
BrickConcreteCoveredDeckPatioPatio OpenSlabTerrace
View
BayCatalinaCity LightsCoastlineHarborMarinaMountain(s)OceanPanoramicPierPoolWater
Roof
Slate
Road Frontage
City Street
Lot Features
0-1 Unit/AcreBack YardFront YardLot 10000-19999 SqftPark NearbySprinkler SystemSprinklers In FrontSprinklers In RearSprinklers Timer
More Exterior Features
Barbecue PrivateLightingRain Gutters
Community Features
MLS Area
CS - Corona Del Mar - Spyglass
On-Site Laundry
Yes
Laundry Features
Dryer IncludedGas & Electric Dryer HookupIndividual RoomInsideLaundry ChuteWasher Included
Senior Community
No
Amenities
Picnic AreaPlayground
Security Features
Automatic GateSmoke Detector(s)
Spa
Yes
Spa Features
PrivateHeatedIn Ground
More Community Features
CurbsGuttersParkSidewalksStorm DrainsStreet LightsSuburban
Schools
School District
Newport Mesa Unified
Elementary School
Lincoln
Middle School
Corona Del Mar
High School
Corona Del Mar
Listing Courtesy of: Melinda Cross 01421651 with Pacific Sotheby's Int'l Realty 01767484

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Data Last Updated on Sun Feb 23 2020 08:00:00
Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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Balboa Island Real Estate by Category

Off- Market Opportunities

In this competitive real estate market on Balboa Island, a lot of properties get sold prior to being listed on the MLS. Smart buyers are not waiting for a home to hit the market and then compete with all of the other home buyers. Instead, they are seeking out off-market opportunities. These are homeowners that have said they are interested in selling if they got a certain price or plan on bring the home on the market in the future (once a tenant moves out, divorce is finalized, or they locate their next property). It could be a number of things. Working with a local realtor that specializes in Balboa Island is critical, when it comes to off-market options. A realtor that is specifically focused on Balboa Island properties will have the inside scoop from owners, neighbors and the few other realtors that have a grasp on selling homes on Balboa Island.  If you have been struggling to find a home on the island, please contact me so I can make you aware of upcoming properties before they are listed for sale on the open market. Contact me at steve@balboaisland.com or 949-607-8122 to let me know what you are looking for.

View Balboa Island Real Estate for sale! Discover luxury bay front homes, cottages, investment properties, vacation rentals and more! Search now. Interested in purchasing property on beautiful Balboa Island? Let a qualified Balboa Island Realtor navigate you through purchasing the the right property, and maybe help add it to the rental market here!

Balboa Island Homes For Sale Listing Alerts

In this competitive real estate market, every second counts! If you are interested in buying a home on the island, you need to be alerted the second a new listing hits the market. You also need to know of price reductions properties already listed for sale. We have an alert system that will update you immediately when a home is listed for sale or has a price reduction. Sign up and be the first to know so you can secure your dream property before other buyers.  If you have been thinking about selling your home on Balboa Island in the near future, this is a great way to stay on top of the market.  When you get the email that a new home is for sale, you can check it out during the open house and get an idea of how your home compares.

Monthly Balboa Island Real Estate Market Report

Balboa Island Real Estate Market Report Homes For Sale New Listings Just Sold on Balboa Island Home Value EstimateOur monthly Balboa Island Real Estate report is a beautiful overview of what is going on specifically on the island. You will get one email per month with a easy to understand overview of transactions, pricing, and more. We will show you the median sales price over the last 6 months along with average days on market per listing. We also calculate a sale-to-list price ratio for all listings. For example, the current “Sale-to-List Price” for Feb 2018 is 89%, which means homes are selling 9% below their listing prices. We also report the number of homes that are active for Balboa Island along with the number of new listings and sold listings within the last 30 days.  This is the latest Balboa Island Market Report. If you would like to receive it monthly, click the Sign Up Button at the top left! And please, reach out to me anytime you would like to chat about the market or get an idea about buying or selling a home on Balboa Island. I would love to meet you and provide some insight.

Location! Location! Location!

This frequently mentioned “location, location, location” is hands-down the most critical component when buying a home and even more so when buying a home on Balboa Island. Obviously the location is critical in any community, but on Balboa Island there are numerous things to consider that most out of area buyers are not aware of. There is nothing worse than purchasing a home on the island, only to realize after you move in that there are some critical flaws with your location. Location is what you are buying as it is the one thing you cannot change. Everything else can be changed!

A realtor like myself, that knows Balboa Island from a resident’s perspective can give you the inside information on what you will experience based on location. What are some examples? Balboa Island is unique to every other community in Newport Beach. The island is a tourist destination. There are roughly 6,000 people on the island. Only 40% of the island is full time residents! This means 60% of the homes are vacation rentals or vacation homes for owners that have a primary residence out of the area. Vacation rentals are essentially motels. Depending on your use of the property, this type of ownership use might matter to you.

When it comes to location, tourists and residents flock to Marine Ave for dining and shopping. If you live on Grand Canal on the big island or the west side of Onyx, you should consider the alley traffic that delivers to all of the local businesses on Marine Ave.  Onyx Ave in general will have a lot of traffic, especially in the 200 block as residents use that to drive off the island quicker than being stuck on marine avenue. If you want to be close to the amenities of Marine Ave but not have issues with traffic and street parking, than you might consider paying a slight premium for a home on the little island.

On the big island, some streets are wider than others. Narrow streets can make it a bit more difficult to parallel park and drive safely.  At the end of the big island you can find parking with ease, but you are 1 mile from Marine Ave, so if you want to grab a Starbucks or visit the Village Inn, you’ll want to consider the time to walk, bike or purchase a golf cart. If you are buying in the 100 block of Agate, you or the 200 and 300 blocks of Marine, you will want to consider the exhaust that comes from cars waiting for the ferry of coming on and off the island.

If you wantBalboa Island Home For Sale Real Estate Waterfront Grand Canal Bayfront Water View Dock a water view or to buy for a boat location in the harbor, you will want to consider the big differences between properties on the North and South Bay Front. South Bay Front Sidewalks from Agate to Marine Avenue are going to have much more foot traffic than anywhere on the bay-front. At the same time, this South Bayfront is the most central location to the harbor and provides the most expansive water views and views of the Harbor Pavilion, Ferris Wheel, and Sunsets. North Bayfront is going to have much less vessel traffic. You will experience sunrises rather than sunsets and you have the wonderful Ruby beach…  There are so many things to consider when it comes to the location of a home on Balboa Island. Let me know what is important to you and I can make sure you end up where you want to be!

Current Values of Homes and Lots For Sale on Balboa Island

Balboa Island Tear Down For Sale Lot Value Real Estate on Balboa Island 2 UnitsHere are some current average prices on Balboa Island. Your average tear-down/lot value for an interior lot will sell for 1.9m-2m. It’s 3,800,000 for a tear-down on North Bay Front and closer to 4.5 million on South Bay Front. East Bay Front and Collins Island demand a premium. New construction, on interior lots, is selling for 3.8-4.2 million. Most 5-10 year old homes are selling for 3-3.5m at this time. Duplexes/Rental Properties that are not necessarily tear-downs, and have some value in the structure, are selling for 2.5-3m depending on the condition and location. If you would like to get a good understanding of the current value of your Balboa Island property, please contact me so I can tour it and show you the latest comparable sales. We may be able to sell it for a premium as an off-market opportunity or list it and market it to our massive traffic on balboaisland.com and our social media following! This website gets twice as much real estate traffic as Zillow and we have over 15,000 followers on social media!

Nearby Communities in Newport Beach

Not sure if Balboa Island is the ideal place to call home? Learn more about the other nearby communities! From islands to coves and the peninsula, we can help you get a better understanding of what the lifestyle looks like in each community and how they compare to others.  We breakdown each community discussing the number of homes, HOA (if any), zoning for commercial businesses and vacation rentals, private access and many more things! Learn More