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%.
Inside Area (SqFt)
Sq Ft Source
Friends & Family
No Comments Yet
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.
14 hours ago
Listing updated with changes from the MLS
a month ago
Listing first seen online
Property Sub Type
Cable AvailableElectricity AvailableNatural Gas Available
Beach AccessBeach FrontOcean AccessOcean FrontOcean Side of FreewayOcean Side Of Highway 1
More Exterior Features
NP - Balboa Peninsula
More Community Features
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.