700 E Oceanfront new Save Request In-Person Tour Request Virtual Tour
Newport Beach,CA 92661
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,310 sqft
Price per Sqft $3,025
Subdivision Balboa Peninsula (Residential) (Balp)
MLS Listing ID OC25098087
Bedrooms 4
Full Baths 3
Year Built 1973
Lot Size 2,613 Sqft
Property Sub-Type Duplex
Property Description
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 rental permits in place. Act quickly! With only 1550 Short Term Rental Permits available in the entire city, having a property with TWO on Oceanfront is truly a rare opportunity.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Zoning RSC-R
Interior
Heating Central,Radiant
Cooling Central Air,See Remarks
Flooring Carpet,Tile
Fireplaces Type None
Inclusions All furniture, furnishings and electronics
Laundry Inside,See Remarks
Exterior
Exterior Feature Barbecue
Parking Features Garage,Paved,Garage Faces Rear,Tandem
Garage Spaces 4.0
Garage Description 4.0
Fence None
Pool None
Community Features Biking,Curbs,Fishing,Gutter(s),Hiking,Park,Storm Drain(s),Street Lights,Sidewalks,Water Sports
Utilities Available Cable Connected,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Waterfront Description Beach Access,Ocean Access
View Y/N Yes
View Ocean
Building
Lot Description Corner Lot,Near Public Transit,Walkstreet
Dwelling Type Duplex
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
Elementary Schools Newport
Middle Schools Ensign
High Schools Newport Harbor
School District Newport Mesa Unified
Others
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard