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Newly built house in Newport Beach’s ‘Port streets’ that replaced neglected teardown finds a buyer

Newly built house in Newport Beach’s ‘Port streets’ that replaced neglected teardown finds a buyer

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The house at 1833 Port Ashley Place, on the market for $ 3.95 million, went into escrow last week. The home originally on the site was a teardown that became the focus of a bidding war at a public auction. MARILYN KALFUS

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1833 Port Ashley Place in Newport Beach MARILYN KALFUS

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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COURTESY OF JUSTIN GRISSINGER

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1833 Port Ashley Place in Newport Beach COURTESY OF JUSTIN GRISSINGER

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The house at 1833 Port Ashley Place, on the market for $ 3.95 million, went into escrow last week. The home originally on the site was a teardown that became the focus of a bidding war at a public auction.MARILYN KALFUS

A new, five-bedroom Newport Beach house on the market for $ 3.95 million that was built on the site of a neglected teardown has attracted a buyer.

The first house, at 1833 Port Ashley Place, was sold last year by the District Attorney-Public Administrator’s office, which steps in to auction off homes of people who die with no one able or willing to take or sell the property.

When the deteriorating house in the Harbor View neighborhood (known as “the Port streets”) came up for auction in March 2014, it was appraised at $ 1 million. The minimum bid was $ 900,000. The winner bidders, a group of investors, paid $ 1.78 million for the residence.

“It actually had a hole in the roof,” Bunnett said. “So the whole interior was destroyed.”

Subsquently, the sad-looking house was torn down, and a new one was built in its place.

The demolition apparently came as a relief to many people in the neighborhood.

“We had about 50 people out front cheering when we knocked the house down,” said real estate agent Justin Grissinger. His brother Jeremy Grissinger built the new residence, which went into escrow last week.

The newly built, 4,044-square foot house has an open floor plan and a chef’s kitchen with a Calacutta marble island, farm sink, and a professional-grade Wolf range and Sub-Zero refrigerator, along with a seating area and a butler’s pantry.

Downstairs are a formal dining room, second master bedroom and office. Upstairs, the master suite has a fireplace, his and her walk-in closets and a solid-slab marble shower.

Interiors include coffered ceilings, white oak and marble floors, trendy industrial and recessed lighting and wainscoting.

The home is around the corner from the Roy O. Andersen Elementary School.

The Orange County Register – News Headlines : Real Estate News