506 Oceanfront, Newport Beach
Newport Beach Home For Sale
$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!
Property Details
Additional Information
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- City:
- Newport Beach
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- County:
- Orange
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- Zip:
- 92661
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- MLS® #:
- SB24045420
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- Bedrooms:
- 7
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- Bathrooms:
- 5
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- Lot Size:
- 0.06
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- Neighborhood:
- Balboa Peninsula (Residential) (BALP)
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- Levels:
- Two
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- Garages:
- 2
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- HOA Dues:
- $
Price Change History for 506 Oceanfront, Newport Beach, (MLS® #SB24045420)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced | $4,995,000 | $500,000 (9.10%) | |
| Price Reduced | $5,495,000 | $500,000 (8.34%) | |
| Price Reduced (from $6,500,000) | $5,995,000 | $505,000 (7.77%) |
Based on information from California Regional Multiple Listing Service, Inc. as of July 31st, 2024 at 1:40am PDT. 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.