1514 West Oceanfront
1514 West Oceanfront
$5,995,000
6
3
2,800
2,800
$2,141
Closed 6/21/21
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Description
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...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%.
- Listed by Tim Smith • DRE #01346878 • Brokerage DRE #00616212 • Coldwell Banker Realty
- Listed by Greg Blake • DRE #01227057 • Brokerage DRE #00616212 • Coldwell Banker Realty
Property Details for 1514 West Oceanfront
View
Ocean, Panoramic, Water, White Water
Parking Spaces Total3
Private PoolNo
Cooling TypeWall/Window
Total Units3.0
Building TypeDetached
Lot Size SourceAssessor
Living Area2800
Location
LISTING UPDATED: 06/21/2021 09:30 AM
Property Details for 1514 West Oceanfront
Status | Closed |
---|---|
MLS # | NP21063345 |
Days on Market | 51 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1957 |
Lot Size | 0.07 AC / 3,049 SF |
County | Orange County |
Location
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Building Information for 1514 West Oceanfront
Stories2Residences-Year Built1957Building Size-Lot Size0.07 AC / 3,049 SF
Payment Calculator
$38,296 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1514 West Oceanfront
Property History for 1514 West Oceanfront
Date | Event & Source | Price | Appreciation |
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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 1514 West Oceanfront
Taxable ValueLand$5,618,160Additions$619,038Total$6,237,198
Tax Record2023$66,953 ($5,579 / month)
Home Facts
Total Finished SqFt2,880 SqFtAbove Grade Finished SqFt2,880 SqFtLot Size3,074 SqFtStyleDuplexYear Built1957CountyORANGEAPN047-211-20
Schools near 1514 West 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.
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