An extraordinary California Mediterranean-style bayfront estate being offered as a turn-key, furnished annual lease. Located in the charming Peninsula Point neighborhood and sited on a premier Newport Harbor parcel with 74 feet of water frontage, this exceptional six bedroom, eight bath residence offers an amenity-rich lifestyle opportunity rarely found on the harbor. A private, gated motor court and four car garage lead to the colonnade-style entry adjoined by a yard and lap pool. With over 7,000 SF of interior living space the home's grand-scale rooms transition seamlessly between inside and out, leading to multiple waterside patio areas, a lush bay front lawn, open-air courtyards, balconies, and a rooftop deck. Principle living areas include formal living, dining, and family room spaces, executive office, professional-grade kitchen with breakfast area and walk-in pantry, subterranean wine cellar, elevator, and primary suite with dressing area and oversized walk-in closet. A separate one bedroom, one bath guest apartment/live-in area with fully-equipped kitchen has private access from the front entry courtyard. A private dock and side-tie with room for multiple vessels completes this impressive offering. Style, space, and stunning water and city light views make this an outstanding opportunity in a preeminent location on the harbor.