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506 E Oceanfront, Newport Beach, CA, 92661

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$4,995,000
249 Days On Site

506 E Oceanfront
Newport Beach, CA 92661

For Sale|Duplex|Pending
0
Beds
0
Full Baths
0
Partial Baths
3,044
SqFt
$1,641
/SqFt
1973
Built
Subdivision:
Balboa Peninsula (Residential) (BALP)
County:
Orange
Listed by David Holstein of The Holstein Group [email protected]
Call Now: 951-942-5001
Is this the home for you? We can help make it yours.
951-942-5001
506 E Oceanfront506 E Oceanfront506 E Oceanfront506 E Oceanfront
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Monthly Payment (Est.)

$22,789
Calculator powered by Showcase IDX. Copyright ©2024 Information is deemed reliable but not guaranteed.

$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!

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Listing Snapshot
Price 
$4,995,000
Days On Site 
249 Days
Bedrooms 
N/A
Inside Area (SqFt) 
3,044 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.06 Acres
Year Built 
1973
MLS® Number 
SB24045420
Status 
Pending
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a month agoStatus changed to Pending
4 months agoPrice changed to $4,995,000
8 months agoListing first seen online
8 months agoListing updated with changes from the MLS®
General Features
Acres 
0.06
Garage 
Yes
Garage Spaces 
2
Number Of Stories 
2
Parking Spaces 
3
Property Sub Type 
Duplex
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
3044
Stories 
Two
Water Source 
Public
Interior Features
Appliances 
DryerWasher
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Exterior Features
Pool Features 
None
View 
OceanWater
Waterfront 
Yes
Waterfront Features 
Beach AccessBeach FrontOcean AccessOcean Front
Waterview 
OceanWater
Community Features
Building Access 
side
Community Features 
FishingSidewalks
Financing Terms Available 
Cash
MLS Area 
NP - Balboa Peninsula


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
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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