Seller's Agent in 2023
Joshua Altman
Douglas Elliman of California, Inc.
(323) 610-0231
3 in this area
495 Total Sales
1 Island Vista Newport Coast, CA 92657
Newport Coast NeighborhoodEstimated Value: $6,330,000 - $20,226,601
5
Beds
7
Baths
11,438
Sq Ft
$1,161/Sq Ft
Est. Value
Highlights
- Ocean View
- Indoor Pool
- Gourmet Kitchen
- Newport Coast Elementary School Rated A
- 24-Hour Security
- Primary Bedroom Suite
About This Home
As of August 2023Rarely offered but highly sought after, 1 Island Vista is a newly reimagined & reconstructed estate in the ultra-exclusive, guard gated community of Pelican Crest. Championed on an oversized corner lot to emphasize the dramatic frontage & unparalleled curb appeal, this property offers expansive scenes of the Pacific Ocean's sparkling blue waters, & rolling cliff sides of Catalina Island, providing a surreal backdrop from nearly every room. Upon arrival, an impressive limestone entryway leads to a double Foyer that rivals the lobbies of the world's finest hotels - setting the tone of sophistication & refinement to be experienced throughout. This open-concept custom estate provides seamless transitions between the living room, chef's kitchen, & multiple outdoor spaces, allowing one the opportunity to host large-scale gatherings while maintaining the warmth & practicality sought after in everyday living. Characterized by imported custom Stonework on every countertop, Herringbone French Oak flooring, & magnificent crystal chandeliers throughout, this property sets an unprecedented standard for design through its careful selection of the richest materials, lustrous textures, & serene patterns. The gourmet chef's kitchen, featuring commercial grade professional appliances, Calcatta Borghini marble countertops, & bespoke cabinetry throughout; lies adjacent to the living room, which is highlighted by multiple sets of French doors & features Savant Smart Home w/ Lutron lighting throughout. Upstairs, the generously appointed primary suite spans the entire length of the home. The spacious primary bathroom wrapped in book-matched Italian marble, oversized his + her vanities, features an oversized steam shower with multiple jet & rain shower heads. An oversized, "dream" walk-in closet boasting Cleef cabinetry, custom lighting, & a Miel coffee maker, sets the scenery for a perfect morning routine. Downstairs, a limestone slab, UV & Ozone purified indoor pool, wet bar with custom marble countertops, tailor-made cabinetry, and a classic hot rock squabble sauna provides a level of accommodation surpassing the luxury spa at your favorite resort. A private entertainer's backyard, enveloped with hedges and seasonal florals, is complemented by symmetrical fire features & mature Mediterranean landscaping, completing the atmosphere of excellence that distinguishes this property from any other. This once-in-a-lifetime opportunity to own this generational treasure is a dream brought to life.
Last Listed By
Douglas Elliman of California, Inc. License #01764587 Listed on: 05/23/2023
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $252,598
Year Built
- Built in 1999
Lot Details
- 0.51 Acre Lot
- Cul-De-Sac
- Fenced Yard
- Gated Home
- Lawn
- Back and Front Yard
HOA Fees
- $985 Monthly HOA Fees
Parking
- 8 Car Garage
- 4 Open Parking Spaces
- Driveway
- Automatic Gate
- Guest Parking
Property Views
- Ocean
- Coastline
- Harbor
- Catalina
- Panoramic
- City Lights
- Canyon
Home Design
- Villa
Interior Spaces
- 11,438 Sq Ft Home
- 3-Story Property
- Elevator
- Wet Bar
- Dual Staircase
- Built-In Features
- Bar
- Dry Bar
- Coffered Ceiling
- High Ceiling
- Recessed Lighting
- Double Door Entry
- Family Room with Fireplace
- Living Room with Fireplace
- Formal Dining Room
- Den with Fireplace
- Bonus Room
Kitchen
- Gourmet Kitchen
- Breakfast Area or Nook
- Open to Family Room
- Walk-In Pantry
- Double Oven
- Range with Range Hood
- Microwave
- Freezer
- Dishwasher
- Kitchen Island
- Disposal
Flooring
- Wood
- Stone
- Tile
Bedrooms and Bathrooms
- 5 Bedrooms
- Main Floor Bedroom
- Fireplace in Primary Bedroom
- Primary Bedroom Suite
- Walk-In Closet
- Dressing Area
- Remodeled Bathroom
- Two Primary Bathrooms
- Powder Room
- 7 Full Bathrooms
- Double Vanity
- Bathtub with Shower
- Double Shower
Laundry
- Laundry Room
- Dryer
- Washer
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
- Fire Sprinkler System
Pool
- Indoor Pool
- In Ground Pool
- In Ground Spa
Outdoor Features
- Balcony
- Open Patio
- Fire Pit
- Built-In Barbecue
Utilities
- Central Heating and Cooling System
- Sewer in Street
Listing and Financial Details
- Assessor Parcel Number 473-111-03
Community Details
Overview
- Association Phone (949) 833-2600
- Built by Pelican Crest (NCPC)
Recreation
- Community Pool
Additional Features
- Community Barbecue Grill
- 24-Hour Security
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 23, 2023
Closed on
Jul 21, 2023
Sold by
Mj Gerro Family Trust
Bought by
1 Island Vista Llc
Seller's Agent
Joshua Altman
Douglas Elliman of California, Inc.
Buyer's Agent
Paul Daftarian
Luxe Real Estate
List Price
$26,850,000
Sold Price
$23,495,000
Premium/Discount to List
-$3,355,000
-12.5%
Total Days on Market
65
Views
731
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$10,216,699
Avg. Annual Appreciation
-22.28%
Purchase Details
Listed on
Oct 19, 2021
Closed on
Nov 9, 2021
Sold by
Jia Xiaoyan
Bought by
Gerro Michael John and Mj Gerro Family Trust
Seller's Agent
John Cain
Pacific Sotheby's Int'l Realty
Buyer's Agent
Paul Daftarian
Luxe Real Estate
List Price
$14,998,000
Sold Price
$15,000,000
Premium/Discount to List
$2,000
0.01%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
30.01%
Original Mortgage
$1,400,000
Interest Rate
3.12%
Mortgage Type
Commercial
Purchase Details
Listed on
Feb 11, 2021
Closed on
Apr 19, 2021
Sold by
Sun Zhi
Bought by
Jia Xiaoyan
Seller's Agent
John Cain
Pacific Sotheby's Int'l Realty
Buyer's Agent
Wenjiao Ma
Wenjiao Ma
List Price
$13,500,000
Sold Price
$12,858,888
Premium/Discount to List
-$641,112
-4.75%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
31.66%
Purchase Details
Listed on
Feb 11, 2021
Closed on
Apr 8, 2021
Sold by
Sheibani Khalil and Sheibani Shadman
Bought by
Jia Xiaoyan
Seller's Agent
John Cain
Pacific Sotheby's Int'l Realty
Buyer's Agent
Wenjiao Ma
Wenjiao Ma
List Price
$13,500,000
Sold Price
$12,858,888
Premium/Discount to List
-$641,112
-4.75%
Purchase Details
Closed on
Sep 1, 2005
Sold by
Fateri Fardad and Fateri Farnaz
Bought by
Sheibani Khalil and Sheibani Shadman
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,500,000
Interest Rate
5.25%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 23, 2002
Sold by
Fateri Fardad and Fateri Farzan Nazy
Bought by
Fateri Fardad and Fateri Farzan Nazy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,001,000
Interest Rate
5.87%
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 1 Island Vista Llc | $23,495,000 | Ticor Title | |
| Gerro Michael John | $15,000,000 | Ticor Title Company Of Ca | |
| Jia Xiaoyan | -- | Ticor Title Company Of Ca | |
| Jia Xiaoyan | $12,859,000 | Ticor Title Company | |
| Sheibani Khalil | -- | Lawyers Title Company | |
| Fateri Fardad | -- | Lawyers Title Company | |
| Fateri Fardad | -- | Lawyers Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Mj Gerro Family Trust | $1,000,000 | |
| Previous Owner | Mj Gerro Family Trust | $1,500,000 | |
| Previous Owner | Mj Gerro Family Trust | $3,700,000 | |
| Previous Owner | Mj Gerro Family Trust | $2,500,000 | |
| Previous Owner | Gerro Michael John | $1,400,000 | |
| Previous Owner | Gerro Michael John | $9,750,000 | |
| Previous Owner | Sheibani Khalil | $636,175 | |
| Previous Owner | Sheibani Khalil | $4,500,000 | |
| Previous Owner | Fateri Fardad | $1,001,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/04/2023 08/04/23 | Sold | $23,495,000 | -12.5% | $2,054 / Sq Ft |
| 07/27/2023 07/27/23 | Pending | -- | -- | -- |
| 05/23/2023 05/23/23 | For Sale | $26,850,000 | +79.0% | $2,347 / Sq Ft |
| 11/19/2021 11/19/21 | Sold | $15,000,000 | 0.0% | $1,311 / Sq Ft |
| 10/20/2021 10/20/21 | Pending | -- | -- | -- |
| 10/19/2021 10/19/21 | For Sale | $14,998,000 | +16.6% | $1,311 / Sq Ft |
| 04/28/2021 04/28/21 | Sold | $12,858,888 | -4.7% | $1,124 / Sq Ft |
| 03/28/2021 03/28/21 | Pending | -- | -- | -- |
| 02/15/2021 02/15/21 | For Sale | $13,500,000 | -- | $1,180 / Sq Ft |
Source: The MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $252,598 | $23,495,000 | $17,546,385 | $5,948,615 |
| 2023 | $163,616 | $15,300,000 | $9,889,726 | $5,410,274 |
| 2022 | $160,922 | $15,000,000 | $9,695,809 | $5,304,191 |
| 2021 | $113,982 | $10,731,383 | $5,968,960 | $4,762,423 |
| 2020 | $113,949 | $10,621,346 | $5,907,755 | $4,713,591 |
| 2019 | $111,751 | $10,413,085 | $5,791,917 | $4,621,168 |
| 2018 | $109,520 | $10,208,907 | $5,678,350 | $4,530,557 |
| 2017 | $109,090 | $10,008,733 | $5,567,010 | $4,441,723 |
| 2016 | $110,186 | $9,812,484 | $5,457,853 | $4,354,631 |
| 2015 | $109,304 | $9,665,092 | $5,375,871 | $4,289,221 |
| 2014 | $86,100 | $7,550,765 | $3,694,841 | $3,855,924 |
Source: Public Records
Agents Affiliated with this Home
-
Joshua Altman
-
Paul Daftarian
Seller Co-Listing Agent in 2023
Paul Daftarian
Luxe Real Estate
(714) 865-5969
93 in this area
241 Total Sales
-
Sahand Zargari
S
Buyer Co-Listing Agent in 2023
Sahand Zargari
Luxe Real Estate
(949) 444-3896
42 in this area
57 Total Sales
-
John Cain
Seller's Agent in 2021
John Cain
Pacific Sothebys
(714) 655-8940
24 in this area
212 Total Sales
-
Buyer's Agent in 2021
Wenjiao Ma
Wenjiao Ma
(949) 877-9593
Map
Similar Homes in the area
Source: The MLS
MLS Number: 23-271821
APN: 473-111-03
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