4005 Seashore Drive

Newport Beach, CA 92663

$11,695,000
Price
8
Beds
5
Baths
3,032 Sq. Ft.
$3,857 / Sq. Ft.
3,032
Sq. Ft.
$3,857
per Sq. Ft.

Description

Featuring TWO highly coveted SHORT TERM RENTAL PERMITS, this oceanfront duplex in Newport Beach offers exceptional income opportunities on the coast of Southern California. Located directly on the beach with no boardwalk between the property and the sand, the two-story design welcomes stunning ocean, beach and shoreline views from both levels. The lower-level residence features three bedrooms and 2 baths, while the second-floor unit boasts five bedrooms and 3 baths. Guests will enjoy walking out...Featuring TWO highly coveted SHORT TERM RENTAL PERMITS, this oceanfront duplex in Newport Beach offers exceptional income opportunities on the coast of Southern California. Located directly on the beach with no boardwalk between the property and the sand, the two-story design welcomes stunning ocean, beach and shoreline views from both levels. The lower-level residence features three bedrooms and 2 baths, while the second-floor unit boasts five bedrooms and 3 baths. Guests will enjoy walking out to a large beachfront patio downstairs and a spacious ocean-view deck on the top floor. Both units are open and bright, and they showcase upgrades including wood-look wide-plank tile flooring, crown molding and granite bath surrounds. Fashionable kitchens display quartz countertops, peninsulas with waterfall-style edges, stainless steel appliances and white Shaker cabinetry. Property also comes with coastal approved plans for a third floor roof deck addition. The duplex’s outstanding location is destined to be a big attraction for short-term renters. Not only is it directly on the sand, it is close to Lido Marina Village, Fashion Island, golf, parks and world-famous surf spots.

Listing Agent

  1. Tara McNabb

    Tara McNabb

    Listing Agent

    Compass

    DRE #01871729

Property Details for 4005 Seashore Drive

Parking Spaces Total
3
Private Pool
No
Cooling Type
N/K
Total Units
2.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
3032
Property Attached YN
false

Location

Listing Courtesy of Compass, Tara McNabb, DRE #01871729; Coldwell Banker Realty, Gizelle Sieber, DRE #01958505
Add your commute
LISTING UPDATED: 05/01/2024 03:37 AM

Property Details for 4005 Seashore Drive

StatusActive
MLS #OC24076294
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.06 AC / 2,490 SF
CountyOrange County

Location

Listing Courtesy of Compass, Tara McNabb, DRE #01871729; Coldwell Banker Realty, Gizelle Sieber, DRE #01958505
Add your commute

Building Information for 4005 Seashore Drive

Stories2Residences-Year Built1963Building Size-Lot Size0.06 AC / 2,490 SF

Payment Calculator

$63,824 per month

30 year fixed, 7.25% Interest

Principal and Interest

$63,824

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4005 Seashore Drive

Income / Expense / Tax Details
Income Details
  • Gross Income: $550,000
  • Gross Scheduled Income: $550,000
  • Gross Operating Income: $550,000
  • Net Operating Income: $300,000
  • Cap Rate: 2.57
Expense Details
  • Operating Expense: $250,000
  • New Taxes Expense: $117,000
  • Cable TV Expense: $1,200
  • Fuel Expense: $800
  • Electric Expense: $7,600
  • Insurance Expense: $5,000
  • Maintenance Expense: $6,000
  • Professional Management Expense: $110,000
  • Trash Expense: $600
  • Water Sewer Expense: $1,800
  • Total Expenses: $250,000
Tax / Assessment Info
  • Tax Tract Number: 769
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 3
Community / Development
Community / Development
  • Accessibility Features: Parking
  • Disability Access: Other Main Level Modifications
  • Assessments YN: No
  • Assessments: None
  • Community Features: Watersports
Property / Structure Info
Interior Features
  • Appliances: Gas Range, Refrigerator
  • Equipment: Garage, Refrigerator
Exterior Features
  • Entry Location: 1
  • Waterfront Features: Beach Access, Beach Front, Ocean Access, Ocean Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Uncovered Spaces: 1
  • Open Other Spaces Total: 1
  • Parking Garage Spaces: 2
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Balboa Peninsula (BPCD)
  • Builders Tract Code: Balboa Peninsula (Commercial) (BPCD)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 5
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 350000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 200000
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number With Dishwasher: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Number With Disposal: 2

Property History for 4005 Seashore Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 4005 Seashore Drive

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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4005 Seashore Drive is a multi-family home for sale in Newport Beach, CA 92663. This property was listed for sale on April 17, 2024 by Compass, it's currently listed at $11,695,000. This listing's school district is Newport-Mesa Unified School District. Nearby schools include Newport Elementary School, Horace Ensign Intermediate School and Newport Harbor High School. 4005 Seashore Drive is a 8-bed, 5-bath, 3,032 sqft multi-family home built in 1963.

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. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Compass, Tara McNabb, DRE #01871729; Coldwell Banker Realty, Gizelle Sieber, DRE #01958505

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.