$32M property goes up for sale on Newport Beach’s Mesa Drive

A luxurious Newport Beach property near the Back Bay has been posted for sale in recent days that carries a price tag of $32 million.

The 2.7-acre property at 2342 Mesa Drive is listed with Douglas Elliman Real Estate. It is described as a legacy estate, as it has been owned by one family since its construction in 1966. Its architect was Philmer Ellerbroek, described by listing agent John Stanaland as someone “ahead of his time” for the modern structure.

Stanaland confirmed in an interview Tuesday the house has been placed on the market because the homeowner, philanthropist Diane Rinker, decided to downsize and relocate elsewhere in Newport Beach. She and her late husband, real estate developer Harry Rinker, donated $15 million to Chapman University to name the Harry and Diane Rinker Health Science Campus in Irvine.

Harry Rinker died in 2021 at 100.

An interior look at a sitting room inside of the estate at 2342 Mesa Drive.

(Joel Danto)

Stanaland said the $32-million price tag is based not only the size of the lot, which he described as rare for its location, but for a number of other amenities that include a man-made lake and the property’s suitability as an equestrian lot. The dwelling encompasses 5,872 square feet, with five bedrooms and 5½ bathrooms. .

The house includes a game room, a formal sitting room and a large multipurpose space. The property boasts a pool and multiple garage spaces.

“The grounds — it’s almost like a private compound,” Stanaland said. “There’s the private bass lake, the beautiful mid-century modern home. It is a compound in the heart of Newport Beach. This is a scarcity value item. You very rarely get a property with this much acreage, though there was the Duck Farm house nearby [on 2612 Mesa Drive], which sold for $15 million.”

The Duck Farm was estimated to have a total of 2.5 acres.

An overhead shot of the 2342 Mesa Drive property.

(Joel Danto)

“It’s very hard to find a property like this and from a scarcity value standpoint, it is without question valuable, and I think it will sell close to the asking price,” he said.

“Orange County, particularly Newport Beach, has become the ‘it’ destination for Southern California. Even those who lived in high-end properties in Los Angeles and San Francisco are now looking here — a world-class destination for people who can afford to live here. We have everything from the professionals like doctors and lawyers to billionaires,” Stanaland said. “There’s been a handful of very good sales in Newport Coast up in this year, but not with the same acreage as this. The caveat is this is a very prime Newport Beach location that’s got the lake but is also equestrian.

“You could go down and buy property in San Juan [Capistrano], but it’s very rare to buy in Newport, and so this is a very special property.”

An exterior view of the gardens in the 2.7-acre property. It has has been owned by the Rinker family since it was built in 1966.

(Joel Danto)