2617 Clay Street

Newport Beach, CA 92663

$9,600,000
Last Sold Price
6
Beds
7
Baths
6,707 Sq. Ft.
$1,431 / Sq. Ft.
6,707
Sq. Ft.
$1,431
per Sq. Ft.

Description

Investor Opportunity - Please Do Not Disturb The Tenant. Located in the highly sought-after Newport Heights neighborhood on a rare 9,500 square foot corner lot, this newly built, Mark Teale designed, soft contemporary residence is the epitome of a chic coastal oasis. A modern pivot door welcomes you into the home with immediate access to the expansive outdoor garden. The grand foyer leads you to a sophisticated dining room and a well-equipped chef’s kitchen featuring European cabinetry, oversized...Investor Opportunity - Please Do Not Disturb The Tenant. Located in the highly sought-after Newport Heights neighborhood on a rare 9,500 square foot corner lot, this newly built, Mark Teale designed, soft contemporary residence is the epitome of a chic coastal oasis. A modern pivot door welcomes you into the home with immediate access to the expansive outdoor garden. The grand foyer leads you to a sophisticated dining room and a well-equipped chef’s kitchen featuring European cabinetry, oversized Wolf & Subzero appliances, Miele built-in coffee station, and a separate butler’s pantry which includes a secondary dishwasher and refrigerator. The kitchen and great room flow seamlessly via a 24-foot Fleetwood pocket sliding door system into a spacious California room featuring a dining and lounge area warmed by in-ceiling heaters. The yard has direct access from two downstairs bedrooms and offers numerous amenities including an oversized pool/spa with automatic cover, outdoor shower, full custom kitchen and bar, fire-pit, and 85” television with enhanced audio that serves as an entertainer’s dream. Upstairs, the master bedroom is your personal retreat and includes a double-sided fireplace separating the bedroom from the master en-suite living room, which has access to a covered view deck. The spa-like master bath with oversized shower and separate soaking tub leads to a sizable master closet outfitted with a custom California Closet system. The upper level features three secondary bedrooms and a game room/home theater featuring an ocean view, 85” television, surround sound system and Fleetwood sliding doors that extend to a large upstairs deck. White oak flooring runs throughout the home appointed with the highest level of finishes. The energy efficient and smart home features 52 solar panels, electric car charging, enhanced audio/video capabilities throughout including control4 and Lutron with voice command, high-end surveillance and security, and a whole-home water softener with reverse osmosis system in the kitchen and upstairs game room. A three-car garage with extra storage rounds out the impeccable residence. Step outside the private gate and there is no shortage of restaurants, cafes, and bars within walking distance - including Lido Village and all it has to offer just a short stroll across Pacific Coast Highway.
  1. Listed by Aaron Andersen • DRE #01981667 • Brokerage DRE #01993277 • Luxe Real Estate
  2. Listed by Paul Daftarian • DRE #01317949 • Brokerage DRE #01993277 • Luxe Real Estate

Property Details for 2617 Clay Street

Architectural Style
Contemporary
View
Catalina, City Lights, Ocean, Pool
Parking Spaces Total
3
Private Pool
Yes
Cooling Type
Central Forced Air
Total Units
1.0
Building Type
Detached
Lot Size Source
Assessor

Location

Listing Courtesy of Luxe Real Estate, Aaron Andersen, DRE #01981667; Luxe Real Estate, Paul Daftarian, DRE #01317949

Sold By Compass, Allison Root, DRE #01368988

Add your commute
LISTING UPDATED: 01/19/2023 05:38 AM

Property Details for 2617 Clay Street

StatusClosed
MLS #OC22125805
Days on Market113
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2017
Lot Size0.22 AC / 9,562 SF
CountyOrange County

Location

Listing Courtesy of Luxe Real Estate, Aaron Andersen, DRE #01981667; Luxe Real Estate, Paul Daftarian, DRE #01317949

Sold By Compass, Allison Root, DRE #01368988

Add your commute

Virtual Tour

Building Information for 2617 Clay Street

Stories2Residences-Year Built2017Building Size-Lot Size0.22 AC / 9,562 SF

Payment Calculator

$55,975 per month

30 year fixed, 7.25% Interest

Principal and Interest

$52,391

Property Taxes

$3,584

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2617 Clay Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $660,000
  • Gross Scheduled Income: $660,000
  • Net Operating Income: $547,000
  • Gross Multiplier: 15.15
  • Cap Rate: 5.47
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $113,000
  • New Taxes Expense: $110,000
  • Insurance Expense: $3,000
  • Trash Expense: $0
  • Total Expenses: $3,000
Tax / Assessment Info
  • Tax Block: 1
  • Tax Tract Number: 919
  • Tax Census Tract: 634.00
  • CFD/Mello-Roos Fee: $364
  • Tax Lot: 1
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Special Assessments, Sewer Assessments
  • Community Features: Street Lights, Suburban
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Freezer, Gas Range, Refrigerator, Water Heater Central, Water Line to Refrigerator
  • Equipment: Dishwasher, Freezer, Inside, On Upper Level, Refrigerator, Room, Water Line to Refrigerator
  • Interior Features: 2 Staircases, Built-in Features, Furnished, Open Floorplan, Stone Counters, Wired for Sound
  • Room Type: Bonus Room, Kitchen, Laundry, Living Room, Main Floor Bedroom, Master Suite, Walk-In Closet
  • Bedroom Features: Main Floor Bedroom, Master Suite, WalkInCloset
  • Water Heater Features: Central Water Heater
  • Laundry: Yes
  • Laundry Features: Individual Room, Inside, Upper Level
  • Fireplace Features: Living Room, Master Bedroom, Gas, Fire Pit
  • Fireplace Rooms: Fire Pit, Gas, Living Room, Master Bedroom
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring: Wood
  • Virtual Tour URL Branded: https://vimeo.com/689958109
  • Virtual Tour URL Unbranded: https://vimeo.com/690057179
Exterior Features
  • Security Features: Carbon Monoxide Detector(s), Security System, Smoke Detector(s)
  • Exterior Features: Lighting
  • Property Condition: Turnkey
  • View Description: Catalina, City Lights, Ocean
  • Pool Features: Private, Heated, In Ground
  • Pool Description: Heated, In Ground, Private
  • Pool: Below Ground, Private
  • Spa Features: Private, Heated, In Ground
Land/Lot Info
  • Lot Features: Front Yard, Landscaped, Lot 6500-9999, Park Nearby, Sprinkler System, Yard
  • Number Of Units: 1
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Sewer Assessments
  • Water Source: Public
Parking Info
  • Garage Spaces: 3
  • Parking: Yes
  • Parking Garage: Direct Entrance, Garage
  • Parking Garage Spaces: 3
  • Carport Spaces: 0
  • Parking Features: Direct Garage Access, Garage
Property / Structure Info
  • Builders Tract Name: Newport Heights
  • Builders Tract Code: Newport Heights (NEWH)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 6
  • Unit Type Baths Total: 7
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $55,000
  • Unit Type Total Rent: $55,000
  • Unit Type Pro Forma: 660000
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 2617 Clay Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2617 Clay Street

Taxable ValueLand$1,902,475Additions$2,164,158Total$4,066,633
Tax Record2023$43,011 ($3,584 / month)
Home Facts
Beds6Baths6.5Total Finished SqFt6,357 SqFtAbove Grade Finished SqFt6,357 SqFtStories2Lot Size9,562 SqFtStyleSingle Family ResidenceYear Built2015CountyORANGEAPN049-033-27

Schools near 2617 Clay Street

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 Heights 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

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Luxe Real Estate, Aaron Andersen, DRE #01981667; Luxe Real Estate, Paul Daftarian, DRE #01317949

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.