1402 West Oceanfront
Closed 6/13/24
Closed 6/13/24
Description
Elevate your investment portfolio with this truly rare opportunity on the sands of Newport Beach's Balboa Peninsula. This West Oceanfront Duplex is set on the deepest lot on the Peninsula, measuring 30’ x 102.5’, providing immediate utilization with ample future development opportunity. Preliminary plans have been explored for expansion up to a generous 4,000 square feet of living space, allowing you to craft a spectacular oceanfront owner's unit with...An Oceanfront Investment Gem: Your Canvas Awaits
Elevate your investment portfolio with this truly rare opportunity on the sands of Newport Beach's Balboa Peninsula. This West Oceanfront Duplex is set on the deepest lot on the Peninsula, measuring 30’ x 102.5’, providing immediate utilization with ample future development opportunity. Preliminary plans have been explored for expansion up to a generous 4,000 square feet of living space, allowing you to craft a spectacular oceanfront owner's unit with an INTERNAL ADU. Alternatively, the new owner can execute redevelopment into a 2-unit rental powerhouse, with a 4-bedroom and 3-bedroom stacked short-term rental, potentially generating over $500,000 in gross revenues per year. Perfect for investors seeking to capitalize on the allure of Newport Beach's vibrant rental market, this property boasts not one, but TWO highly coveted, transferable, active short-term-rental permits approved with the city. Buyer to verify all details for their intents and purposes. In the property’s immediate condition, it offers a charming retreat featuring one bedroom, one bathroom, and an inviting open-concept layout in the front. Additionally, there is a two-level 'original condition' residence at the rear of the lot, which includes a 2-bedroom suite and deck above, as well as a 1-car parking garage below. Beyond the boundaries of your property lies a world of recreation and relaxation, with beach volleyball courts, surf shops, markets, and marinas just steps away. On 15th Street, just a few minutes' walk up the boardwalk, one can find 15th Street Surf Shop, Fry’s Market for basic groceries, and Marina Park for strolling the greenery. Indulge in the coastal lifestyle at Newport Beach Pier’s boutiques and award-winning eateries, all beckoning for exploration. But the real magic lies in the potential of this property. With plenty of room to renovate and expand, the possibilities are as vast as the ocean itself. Seize the moment and make your mark on Newport Beach's prestigious and limited shoreline. With opportunities like this, the time to invest in your future is now.
- Listed by Joshua Coburn • DRE #02027758 • Brokerage DRE #02126177 • Chamberlain Real Estate • 562-552-1127
Property Details for 1402 West Oceanfront
Property Details for 1402 West Oceanfront
| Status | Closed |
|---|---|
| MLS # | NP24093413 |
| Days on Market | 15 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Townhouse |
| MLS Type | Residential |
| Year Built | 1945 |
| Lot Size | 0.07 AC / 3,049 SF |
| County | Orange County |
Building Information for 1402 West Oceanfront
Property Information for 1402 West Oceanfront
- Financing: Cash
- Tax Block: 14
- Tax Tract Number: 234
- Tax Census Tract: 628.00
- CFD/Mello-Roos Fee: $533
- Tax Lot: 2
- Accessibility Features: 2+ Access Exits, Parking
- Disability Access: 2+ Access Exits, Other Main Level Modifications
- Assessments YN: Yes
- Assessments: Special Assessments
- Community Features: Biking, Curbs, Park, Watersports
- Appliances: 6 Burner Stove
- Equipment: Dryer, Washer, 6 Burner Stove
- Room Type: Kitchen, Living Room, Main Floor Bedroom
- Main Level Bathrooms: 1
- Main Level Bedrooms: 2
- Room Bathroom Features: Shower
- Bedroom Features: Main Floor Bedroom
- Laundry: Yes
- Laundry Features: Dryer Included, Individual Room, Washer Included
- Laundry Location: Laundry Room
- Fireplace Features: None
- Fireplace Rooms: None
- Fireplace: N/K
- Cooling: None
- Entry Location: Street and/or Alley
- Structure Type: Duplex
- View Description: Ocean, Pier, Water
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: Yard
- Lease Considered: No
- Available For Lease: No
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Sewer/Septic: Public Sewer
- Water Source: Public
- Garage Spaces: 1
- Parking: Yes
- Parking Garage: Garage
- Parking Garage Spaces: 1
- Parking Garage: Garage
- Carport Spaces: 0
- Attached Garage: Yes
- Parking Features: Concrete, Garage, Garage Faces Rear
- Builders Tract Name: Balboa Peninsula (BALP)
- Builders Tract Code: Balboa Peninsula (Residential) (BALP)
- Residential Styles: Townhome
- Residential Unit Location: No Common Walls
Property History for 1402 West Oceanfront
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1402 West Oceanfront
Schools near 1402 West Oceanfront
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 12 |
Rating | School | Distance |
|---|---|---|
Newport Elementary School PublicK to 6 | ||
Horace Ensign Intermediate School Public7 to 8 | ||
Newport Harbor High School Public9 to 12 | ||
Monte Vista High School PublicK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Chamberlain Real Estate, Joshua Coburn, DRE #02027758
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.