About 4802 Neptune Ave
**Investment Property Opportunity with Value-Added Potential** This property is currently appraised at $4,050,000 (MAI Appraisal). As a short-term rental, the estimated value increases to $4,555,000. Additionally, the large lot has the potential for constructing an Accessory Dwelling Unit (ADU) in the back, which could push the total value of the property to well over $6,000,000. You won’t find other properties on the Peninsula that offer this type of opportunity. This rare investment is just steps from the beach, located in one of Newport Beach’s most desirable coastal communities. It features a two-car garage and offers peak ocean views from the balcony. The property is conveniently situated just a quick drive from all that Orange County has to offer, including: - Pelican Hill Golf and Resort (10 minutes) - John Wayne Airport (10 minutes) - Angel Stadium & Honda Center (15 minutes) - Disneyland (20 minutes) - Knotts Berry Farm (20 minutes) - Laguna Beach (15 minutes) - Huntington Beach Pier (5 minutes) - Newport Harbor Fun Zone (3 minutes) - Fashion Island (5 minutes) - Segerstrom Hall & South Coast Plaza (15 minutes) Furthermore, this property presents an excellent opportunity for use as a primary residence. The upstairs can serve as a living space while the lower unit can be rented out as an income-producing property. Both units are currently rented on a month-to-month basis. Please contact the agent for showings.
Features of 4802 Neptune Ave
| MLS® # | LG26212290 |
|---|---|
| Price | $4,050,000 |
| Bedrooms | 6 |
| Bathrooms | 4.00 |
| Acres | 0.08 |
| Year Built | 1962 |
| Type | Residential Income |
| Sub-Type | Duplex |
| Style | Contemporary |
| Status | Active |
Community Information
| Address | 4802 Neptune Ave |
|---|---|
| Area | NP - Balboa Peninsula |
| Subdivision | Balboa Peninsula (Residential) (BALP) |
| City | Newport Beach |
| County | Orange |
| Zip Code | 92663 |
Amenities
| Parking Spaces | 2 |
|---|---|
| Parking | Door-Single, Driveway, Garage Faces Front, Garage |
| # of Garages | 2 |
| Garages | Door-Single, Driveway, Garage Faces Front, Garage |
| View | Ocean, Peek-A-Boo |
| Is Waterfront | No |
| Waterfront | Across the Road from Lake/Ocean |
| Has Pool | No |
| Pool | None |
Interior
| Interior Features | Balcony, Block Walls, Ceiling Fan(s), Granite Counters, Living Room Deck Attached, Open Floorplan, Recessed Lighting, Entrance Foyer |
|---|---|
| Appliances | Built-In Range, Dishwasher, Disposal |
| Heating | Central |
| Cooling | Central Air |
| Has Basement | No |
| Fireplace | No |
| Fireplaces | None |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Lot Description | TwoToFiveUnitsAcre |
|---|---|
| Windows | Blinds, Bay Window(s) |
Additional Information
| Date Listed | August 12th, 2026 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Brendan Horgan |
|---|---|
| Office | MEEHAN ESTATES, INC. |