506 East Oceanfront
$4,995,000
7
5
3,044
3,044
$1,641
Pending
Description
$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...$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!
- Listed by David Holstein • DRE #01210777 • Brokerage DRE #01210777 • The Holstein Group • 310-345-9994
Property Details for 506 East Oceanfront
View
Ocean, Pier, Water, White Water
Parking Spaces Total3
Private PoolNo
Total Units2.0
Building TypeAttached
Lot Size SourceAssessor
Living Area3044
Assessor Parcel Number048-122-10
LISTING UPDATED: 09/25/2024 09:36 AM
Property Details for 506 East Oceanfront
Status | Pending |
---|---|
MLS # | SB24045420 |
Days on Market | 204 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1973 |
Lot Size | 0.06 AC / 2,614 SF |
County | Orange County |
Building Information for 506 East Oceanfront
Stories2Residences-Year Built1973Building Size-Lot Size0.06 AC / 2,614 SF
Property Information for 506 East Oceanfront
Property History for 506 East Oceanfront
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 506 East Oceanfront
Taxable ValueLand$707,828Additions$230,465Total$938,293
Tax Record2024$10,429 ($869 / month)
Home Facts
Total Finished SqFt3,044 SqFtAbove Grade Finished SqFt3,044 SqFtStories2Lot Size2,565 SqFtStyleDuplexYear Built1973CountyORANGEAPN048-122-10
Schools near 506 East Oceanfront
This home is within Newport-Mesa Unified School District.
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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.