Large lot ideally located across the street from the bay and walking distance to one of Newport Beach's best family beaches, and the world famous surf spot, "The Wedge". This turnkey building opportunity to be sold with all Architectural design and construction plans for a sensational Coastal Farmhouse home designed by renowned home designer William Guidero. The oversized rooftop deck features views of the Bay, Fashion Island and Saddleback Mountain. Plans encompass three levels, more than 3,400 square feet of improved living space and features a huge great room and sophisticated open chef's kitchen, 6 bathrooms and 4 bedrooms, all of which include ensuite bathrooms, a bonus room and huge covered 3rd floor patio with fireplace and outdoor kitchen. An elevator provides service to all 3 levels. The extra wide alley and underground utilities enhance the best of the Newport Beach Peninsula Point living experience. No detail has been overlooked. Perfect full-time residence or beach retreat. City of Newport City plan approval is anticipated in April.