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$5,995,000
11 Days Online

1514 W Oceanfront
Newport Beach, CA 92663

For Sale|Condo|Active
0
Beds
0
Full Baths
0
Partial Baths

SqFt

/SqFt
1957
Built
Subdivision:
Balboa Peninsula (Residential) (Balp)
County:
Orange

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1514 W Oceanfront1514 W Oceanfront1514 W Oceanfront1514 W Oceanfront
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Extraordinary opportunity to own a premier beachfront parcel in Balboa Peninsula with three transferable short term lodging permits. Capturing the symphonic pounding of surf, this pristine two-story beach-front compound is comprised of three spacious units and is constructed with features such as beamed ceilings, recessed lighting, brick fireplaces, and wood flooring. The front-facing units A and B offer views of the idyllic beaches of Newport from the balcony/deck, while the back unit offers privacy and serenity just moments from the sand. With an option to vacation or live in one unit and rent out the others, 1514 W Oceanfront is ideal as an exceptional compound for significant income opportunity or a seaside retreat for family and friends. Having achieved a net operating income of approximately $254,174 in 2020 amidst COVID-19 city restrictions, and adjusting for new property taxes for 2021, the triplex proves tremendous value and anticipates a net operating income of approximately $240,000 with a cap rate of approximately 4%.

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Listing Snapshot
Price
$5,995,000
Days Online
11 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.07 Acres
Year Built
1957
MLS Number
NP21063345
Status
Active
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
17 hours agoListing updated with changes from the MLS
2 weeks agoListing first seen online
General Features
Property Sub Type
Triplex
Stories
2
Sewer
Public Sewer
Utilities
Cable AvailableElectricity AvailableNatural Gas Available
Listing Conditions
Standard
Garage Spaces
3
Property Condition
Turnkey
Interior Features
Cooling
Wall/Window Unit(s)
Heating
Wall FurnaceNatural GasFireplace(s)
Fireplace
Yes
Fireplace Details
Dining RoomFamily RoomLiving RoomMaster BedroomGasMasonry
Flooring
LaminateTile
Appliances
Built-In RangeConvection OvenDisposalGas RangeGas CooktopGas Water HeaterRefrigerator
More Interior Features
BalconyBeamed CeilingsCeiling Fan(s)Ceramic CountersRecessed LightingTile CountersTrack Lighting
Room Type
Family Room
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Exterior Features
Pool
No
Pool Features
None
View
OceanPanoramicWaterWhite Water
Roof
Shingle
Lot Features
Level with StreetNo Landscaping
Waterfront Features
Beach AccessBeach FrontOcean AccessOcean FrontOcean Side of FreewayOcean Side Of Highway 1
More Exterior Features
Lighting
Community Features
MLS Area
NP - Balboa Peninsula
On-Site Laundry
Yes
Laundry Features
Common Area
Senior Community
No
Spa
No
Spa Features
None
More Community Features
Biking
Listing Courtesy of Tim Smith 01346878 with Coldwell Banker Realty 00616212



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. The 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, the 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.

Neighborhood & Commute
Source: Walkscore
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