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700 E Oceanfront

Newport Beach, CA 92661 View Map $5,300,000 Schedule a Tour
Sq.Ft. Lot2,614
Year1973
Susie McKibben

Susie McKibben

(949) 500-5327
DRE No.: 01966883

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Status: Active
Property Type:Duplex
MLS #:NP22145462
On Site:35 Days
Lot Size:2,614 Sq. Ft.
County:Orange
700 E Oceanfront presents a fantastic opportunity to own a duplex in the heart of the Balboa Peninsula. All about the location, this property is near all the desirable attractions the area has to offer. Steps away from the sand and ocean, 700 E Oceanfront is sited along the boardwalk and the Peninsula's famous bike path. Walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. Featuring two units, this property offers incredible income potential. The lower unit features a bedroom and a bathroom, along with indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with granite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is smartly divided into two separate sections and encompasses a total of three bedrooms and two bathrooms. The front portion features two of the bedrooms as well as a full bath. Smartly upgraded kitchen and a living area offer ample entertaining space. The large front bedroom features a fireplace and breathtaking views of the ocean and Balboa Pier. The back section of the upstairs features bedroom, a bath and a kitchenette as well as living and dining areas. 700 E Oceanfront is a meticulously maintained property, with air conditioning, double-paned windows and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. Incredible income potential with short term rental permits in place.

Listing Agent/Office

Agent Name:Timothy Carr
Office Name:Villa Real Estate

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$000 Monthly Payment
Loan and interest only.

Detailed Maps

Community Information

Address:700 E Oceanfront Newport Beach, CA 92661
County:Orange
Zip Code:92661

Architecture

Year Built:1973
Stories:2
Building Area: 2310.0
Number of Buildings: 1
Total Units: 2
Stories Total: 2
Unit 1: 1 Unit•1 Bed•1 Bath•$94,230 actual rent•$94,230 total rent•$94,230 pro forma
Unit 2: 1 Unit•3 Beds•2 Baths•$153,903 actual rent•$153,903 total rent•$153,903 pro forma
Garage Spaces: 4.0
Parking Features: Garage, Garage Door Opener, Garage Faces Rear
Open Parking Spaces: 1.0
Parking Total: 5.0

Features / Amenities

Appliances: Gas Range, Dryer, Washer
Fireplace Features: Master Bedroom
Flooring: Carpet, Vinyl
Laundry: Inside
Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
Window: Double Pane Windows
Common Walls: No Common Walls
Cooling: Central Air
Heating: Central

Property Features

Lot Size: 0.06 Acres / 2,614 Sq. Ft.
Lot Features: Corner Lot
Waterfront: Beach Access
View: Ocean
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer: Public Sewer
Water: Public
Road Frontage: City Street
Road Surface: Paved
Zoning:RSC-R
Directions:From W Balboa Blvd, turn right right on Adams and turn left at the 1st cross street onto E Oceanfront. Property is on the right.

Tax and Financial Info

Gross Income: $248,134
Gross Scheduled Income: $248,134
Insurance Expense: $2,000
Maintenance Expense: $300
Terms: Cash, CashtoNewLoan, Conventional
Land Lease: No

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700 E Oceanfront Newport Beach, CA 92661
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700 E Oceanfront Newport Beach, CA 92661
 
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Listing agent / office Timothy Carr, Villa Real Estate.
Based on information from California Regional Multiple Listing Service, Inc. as of August 8, 2022. 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. IDX provided by Sierra Interactive.