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Keller Williams
700 E Oceanfront, Newport Beach, CA 92661
- $5,990,000
- 4
- BD
- 3
- BA
- 2,310
- SqFt
- List Price
- $5,990,000
- Status
- ACTIVE
- Days on Market
- 273
- Price Change
- ▼ $209,000 1790743893
- MLS#
- OC26030071
- Subtype
- Residential
- Year Built
- 1973
- Bedrooms
- 4
- Bathrooms
- 3
- Full Baths
- 3
- Living Area
- 2,310
- Lot Size
- 2,614
- Acres
- 0.06
- Subdivision
- Balboa Peninsula (Residential) (Balp)
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
- MLS Area Major
- Balboa Peninsula (NP)
Property Description
SIGNIFICANT PRICE IMPROVEMENT! RARE - TWO Short Term Lodging Permits ON THE BOARDWALK! Fabulous remodeled oceanfront getaway, turnkey vacation rental business or BOTH? The choice is yours at 700 E Oceanfront The property presents a fantastic opportunity to own an updated duplex in the heart of the Balboa Peninsula. LOCATION LOCATION LOCATION, this property is near all of the attractions that you and/or your vacation rental guests desire. Steps away from the sand and ocean, the property is located on the boardwalk and walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. The corner location affords unparalleled sunlight and those cooling ocean breezes. The lower 1 bed/1 bath unit is newly remodeled and has its own indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with quartz composite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is well-designed and newly remodeled throughout, including kitchen (w/ island and wine fridge) and entertaining space, as well as 3 generous bedrooms (the Primary has its own kitchenette) and 2 bathrooms. The living/great room features breathtaking views of the ocean and Balboa Pier. The duplex has been professionally managed and meticulously maintained. Notable features include: Air conditioning (new in 2023), new roof, double-paned windows and functional and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. This oceanfront duplex offers a proven track record and excellent reviews from former guests. Incredible income potential with 2 Short Term Lodging permits in place. Act quickly! With only 1550 Short Term Lodging Permits available in the entire city, having a property with TWO on Oceanfront is truly a rare opportunity.Seller may consider participating in a loan rate buy-down with an appropriate offer.
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Additional Information
- Interior Features
- Wet Bar, Balcony, Living Room Deck Attached, Open Floorplan, Quartz Counters, Primary Suite
- Exterior Features
- Barbecue
- Zoning
- RSC-R
- Flooring
- Carpet, Tile
- Appliances
- Dishwasher, Electric Range, Electric Water Heater, Disposal, Gas Range, Gas Water Heater, Microwave, Refrigerator
- Heating
- Central, Radiant
- Air Conditioning
- Yes
- Exterior Construction
- Stucco
- Stories
- Two Levels
- Levels
- Two
- Pool Type
- None
- Parking Features
- Garage, Paved, Garage Faces Rear, Tandem
- Garage Spaces
- 4
- School District
- Newport Mesa Unified
- Elementary School
- Newport
- Middle School
- Ensign
- High School
- Newport Harbor
- View
- Ocean
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Listing courtesy of Listing Agent: Dominic Tucci (dtucci@hotmail.com) from Listing Office: Pacific Sotheby's Int'l Realty.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.