Newport Beach Home On Private Island Hits Market for $28 Million

How much does it cost to live on a private island? Just a little under $28 million, at least if you’re looking at Newport Beach. And that’s if not having a garage isn’t an issue.

A 5,400-square foot property facing on Newport Harbor recently hit the market with an asking price of $27.9 million, proof of the age-old real estate rule that location is king. The home, located on 12 Bay Island, sits on the tip of the island, which juts out onto the bay just where Newport Harbor’s biggest channels meet. Surrounded by water on three sides, the home boasts picturesque views from just about every corner.

The five-bedroom, seven-bath home has stone tile and hardwood floors throughout, as well as a library, formal dining room, and rooftop deck. Upper floors are accessible through an elevator. Outside, one is treated to a sprawling green lawn, a private beach, and a waterfront area that stretches about 200 feet. There’s also a private boat dock able to hold vessels up to 70 feet long.

The six-acre island on which the property sits is occupied by only 22 other homes, making up the exclusive Bay Island Club. Residents own shares of the island itself, which includes a private garden and tennis court. It’s widely considered one of the most exclusive neighborhoods in Orange County, if not the most.

But this exclusivity gives way to the home’s only drawback: it doesn’t have a garage. The island has no roads and or cars and is accessible only via a footbridge. A private parking facility is located on nearby Balboa Peninsula.

 

Earlier in Newport Beach Real Estate News:
Newport Wins Award for Best Beaches
Old Newport Beach Building To Be Transformed
Irvine Co. Continues Work On Fashion Island