1628 W Oceanfront, Newport Beach, CA 92663 (MLS # OC24086243)
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Unique opportunity to own a fully renovated 11 unit oceanfront vacation rental property that feels like a first class boutique hotel. Welcome to 1628 West Oceanfront, with nine highly sought-after short-term rental permits make it easy to experience investment returns with a projected 4.3% cap rate, create a personal residential compound, or live in one unit and rent the rest. Located on the Balboa Peninsula between the Newport and Balboa piers, the property occupies a large 35' corner lot, giving it more visibility and added privacy with only one direct neighbor. Panoramic views encompass golden sands, the Pacific Ocean, dramatic sunsets, Catalina Island and the Orange County coastline. A beach-front entrance leads to a variety of rooms that includes seven studios; two two-bedroom, one-bath designs; and two one-bedroom, one-bath designs. Depending on the room, guests will enjoy a kitchenette or dine-in kitchen, sitting rooms, ocean-view patios, and luxurious freestanding bathtubs. Every room showcases luxury vinyl plank flooring, soothing white and gray color themes, quartz countertops, Shaker cabinetry, recessed lighting, dual-pane windows, and custom tile work. Marina Park, which features a playground, picnic areas, a beach and basketball courts, is only one block away. Fashion Island shopping and dining, the Balboa Fun Zone, Balboa Island, golf, biking paths and more are all just minutes away.
| DAYS ON MARKET | 16 | LAST UPDATED | 5/6/2024 |
|---|---|---|---|
| TRACT | Balboa Peninsula (Residential) (BALP) | YEAR BUILT | 1931 |
| COMMUNITY | Balboa Peninsula | GARAGE SPACES | 4.0 |
| COUNTY | Orange | STATUS | Conditional |
| PROPERTY TYPE(S) | Single Family |
| School District | Newport Mesa Unified |
|---|
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Balboa Peninsula |
| BUYER'S BROKERAGE COMPENSATION | 2.500 % |
| GARAGE | Assigned, Yes |
| HOA DUES | 0 |
| LOT | 3485 sq ft |
| LOT DESCRIPTION | Corner Lot, Level |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Balboa Peninsula (Residential) (BALP) |
| VIEW | Yes |
| VIEW DESCRIPTION | Catalina,Coastline,Ocean |
| WATER | Public |
| WATERFRONT | Yes |
| WATERFRONT DESCRIPTION | Beach Access,Beach Front,Ocean Front |
TOTAL MONTHLY PAYMENT
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Based on information from California Regional Multiple Listing Service, Inc. as of 5/16/24 7:07 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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