506 E Oceanfront, Newport Beach, CA 92661
-
Listed Price :
$4,995,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1973
Property Description
$500,000 Price Reduction! Bring All Reasonable Offers for this Once in a lifetime opportunity!
This asset is a once in a lifetime opportunity! Options to utilize it for your primary residence, 50% as your primary residence (since it's a legal duplex), and/or keep it fully in the rental pool generating income while having it accessible to use personally when vacant.
Included in the sale, TWO highly coveted, transferable, active Short-Term-Lodging permits approved with the city. Buyer to verify all details for their intents and purposes. Located in the heart of the Balboa Peninsula on the Newport Beach Sand! Occupants can enjoy the immediate social life of the Bike Path & Volleyball Courts or a short stroll to the Surf Shops, Restaurants, Markets, and The Pier.
Short term permits allow for approximate 16 occupants (buyer to verify) between the 2 units (Unit A, approximately 1333 sq ft.), a Three Bedroom Two Bath unit, and Unit B (approximately 1676 sq. ft), is a 4 bedroom 2 1/2 Bath. Special Note: Across the bike path from this asset, your resident's and their guest can enjoy access to a giant city parking facility. This asset has it ALL. Parking, Duplex, High Occupancy Potential, Income, Sand Location, Bike Path and immediate ocean/sand access. This is an heirloom asset that should not be overlooked! Other options to consider, park money here for your 1031 exchange? or lease it out to long term tenants? Opportunities are endless!
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
506 E Oceanfront |
| City |
Newport Beach |
| State |
CA |
| Zip |
92661 |
| County |
Orange |
| Listing Agent |
David Holstein DRE #01210777 |
| Courtesy Of |
The Holstein Group |
| List Price |
$4,995,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Duplex |
| Structure Size |
N/A |
| Lot Size |
2,614 |
| Year Built |
1973 |
Listing information courtesy of: David Holstein, The Holstein Group. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 18th, 2024 at 12:32 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
