1622 Pegasus St

Situated on a prominent corner lot in one of Orange County’s most connected locations, this thoughtfully designed three-story residence offers exceptional flexibility, privacy, and income potential in the heart of Newport Beach. Spanning approximately 3,904 square feet, the home features 5 bedrooms and 5.5 bathrooms, carefully designed to accommodate multigenerational living, guest privacy, work-from-home lifestyles, or potential rental opportunities. At the top of the home, a third-story penthouse retreat captures sweeping views and offers the perfect private suite. Throughout the home, thoughtful details elevate everyday living, including five jetted bathtubs for a true spa-like experience and abundant storage space rarely found in today’s homes. Car enthusiasts, hobbyists, and adventurers alike will appreciate the two separate 2-car garages, including a detached garage structure with an oversized driveway suitable for RV parking, additional vehicles, or flexible use potential. Ideally located in the heart of Orange County, the property places Newport Beach, Irvine, Costa Mesa, and Tustin just moments away. Enjoy close proximity to world-class shopping and dining at Fashion Island and South Coast Plaza, cultural attractions including South Coast Repertory, recreation at Newport Beach Golf Course and Santa Ana Country Club, nearby beaches, the Orange County Fairgrounds, John Wayne Airport, and convenient access to the 405, 5, 55, and 73 freeways. A rare opportunity combining size, versatility, location, and long-term potential in a highly sought-after coastal-adjacent setting. A home designed not only for how life looks today — but for all the ways it may evolve tomorrow.

Current Status

Active - Coming Soon

Original Price

$3,295,000

List Price

$3,295,000

On Market Date

May 24, 2026

Property Type

Detached

D/N/S

Not Listed

Zip Code

92660

MLS ID

41135880

APN

Year Built

1963

Stories in Building

3

Possession

Close Of Escrow

Data Source

MAXEBRDI

Origin MLS System

BAY EAST

Bed

5

Bath

5.5 (5/1)

Parking

2

Attached, Detached, RV/Boat Parking, Side Yard Access, RV Access/Parking

SQ FT

3,905

SQ FT Source

Public Records

Lot SQ FT

7,300.0

Lot Acres

0.1676 Acres

Pool Info

None

Kitchen

Electric Range, Refrigerator, Dryer, Washer, Electric Water Heater, Breakfast Bar, Tile Counters, Electric Range/Cooktop

Cooling

Ceiling Fan(s), Central Air

Disclosures

Disclosure Package Avail

Entry Level

Exterior Details

Front Yard, Sprinklers Front

Flooring

Tile, Carpet

Foundation

Fire Place

Brick, Living Room

Heating

Central, Fireplace(s)

Laundry

220 Volt Outlet, Dryer, Washer

Main Level

5 Bedrooms, 5+ Baths

Possession

Close Of Escrow

Architectural Style

Contemporary

Construction Status

Existing

Additional Miscellaneous Features

Front Yard, Sprinklers Front

Location

Corner Lot

Roof

Composition Shingles

Water and Sewer

Meter on Site

Fee

Unavailable

MLS and other Information regarding properties for sale as shown in Theo have been obtained from various sources such as sellers, public records, agents and other third parties. This information may relate to the condition of the property, permitted or unpermitted uses, zoning, square footage, lot size/acreage or other matters affecting value or desirability. Unless otherwise indicated in writing, neither brokers, agents nor Theo have verified, or will verify, such information. If any such information is important to buyer in determining whether to buy, the price to pay or intended use of the property, buyer is urged to conduct their own investigation with qualified professionals, satisfy themselves with respect to that information, and to rely solely on the results of that investigation.

School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.