507 29th Street

507 29th Street

Newport Beach, CA 92663

$3,995,000
Price
4
Beds
5
Baths
3,096 Sq. Ft.
$1,290 / Sq. Ft.
3,096
Sq. Ft.
$1,290
per Sq. Ft.

Virtual Tour

Virtual Tour

a front view of a house with garden
a living room with furniture and wooden floor
a living room with furniture fireplace and a large window
a living room with furniture kitchen view and a window
a living room with furniture fireplace and window
a view of a dining room with furniture
a dining room with furniture and window
a view of a dining room with furniture
a view of a dining room with furniture
a large kitchen with stainless steel appliances kitchen island granite countertop a refrigerator and a stove
a kitchen with stainless steel appliances granite countertop a sink stove and cabinets
a kitchen with granite countertop a stove sink and cabinets
a view of a patio with table and chairs potted plants
a view of outdoor space
a view of a dining room with furniture
a bed room with a bed and a lamp
a white toilet sitting next to a bathroom sink
a bedroom with a bed and painting on the wall
a bedroom with a bed and a painting on the wall
a bathroom with a toilet sink and shower
a view of a patio with table and chairs and potted plants
a bedroom with a bed and a window
a bathroom with a granite countertop toilet sink and shower
a bedroom with a bed and a television
a bathroom with a bathtub and a sink
a bathroom with a granite countertop sink a large mirror and a bathtub
a view of a dining room with furniture window and wooden floor
a dining room with furniture a rug and wooden floor
a table and chairs in a room
a living room with a couch and a table in it
a work place with a desk and chair with wooden floor
a view of walk in closet with clothes and shoes
a bathroom with a toilet a sink and a mirror
an aerial view of a residential building with outdoor space
an aerial view of a city
an aerial view of a city
an aerial view of a city

Description

Iconic, mixed-use 2-unit building located in Newport Beach’s popular Cannery Village. This Mediterranean-style property offers one residential unit and one commercial office/retail space. Upstairs you will find an extremely large residential unit consisting of 4 bedrooms, 3 of which are en suite, and 3.5 bathrooms. THIS RESIDENTIAL UNIT HAS A SHORT-TERM LODGING PERMIT and is currently being used as a short-term rental. It is a generous 2,117 square feet and boasts peek-a-boo water views of the harbor...Iconic, mixed-use 2-unit building located in Newport Beach’s popular Cannery Village. This Mediterranean-style property offers one residential unit and one commercial office/retail space. Upstairs you will find an extremely large residential unit consisting of 4 bedrooms, 3 of which are en suite, and 3.5 bathrooms. THIS RESIDENTIAL UNIT HAS A SHORT-TERM LODGING PERMIT and is currently being used as a short-term rental. It is a generous 2,117 square feet and boasts peek-a-boo water views of the harbor from the living room and large front sundeck. Updated and remodeled throughout with thoughtfulness to preserve some of the original elements of the vibrant property. A perfectly placed center atrium brings an abundance of natural light into the center of the home. Vaulted ceilings, skylights, and open spaces give a sense of vastness. There is a laundry room conveniently located in the hallway. The primary bathroom has an oversized operable skylight that can be opened for natural air circulation. This residential unit has 2 dedicated garage spaces that are tandem parked. Downstairs you will find a versatile commercial office/retail space that is approximately 1,000 square feet. There is a dedicated bathroom for the commercial space and in the rear, you will find 4 car parking with easy access off the alley. It is currently leased as office space at $3,200 per month with the end of the lease term in mid-June, 2025. You cannot ask for a better location! Centrally located in the heart of the Balboa Peninsula within the charming Cannery Village. The oversized lot size of this property is slightly wider than the typical 30-foot-wide standard lot size found in this area. Most of the mixed-use properties located nearby have a live/work deed restriction that requires the same owner to occupy the residential unit as well as run the downstairs commercial business. This property does NOT have that deed restriction. This means that each unit can be occupied by a completely separate and independent party. Note: The Seller would like to do Seller-Financing for qualified Buyers on terms that are favorable and agreeable to all parties.
  1. Listed by Larry Birnbaum • DRE #01363487 • Brokerage DRE #01363487 • LMB Enterprises • 714-655-8108

Property Details for 507 29th Street

Architectural Style
Mediterranean
View
Bay, Harbor, Water
Parking Spaces Total
6
Private Pool
No
Cooling Type
N/K
Total Units
2.0
Building Type
Detached
Lot Size Source
Assessor

Location

Listing Courtesy of LMB Enterprises, Larry Birnbaum, DRE #01363487
Add your commute
LISTING UPDATED: 04/12/2024 11:44 PM

Property Details for 507 29th Street

StatusActive
MLS #OC24007802
Days on Market102
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
Lot Size0.07 AC / 3,100 SF
CountyOrange County

Location

Listing Courtesy of LMB Enterprises, Larry Birnbaum, DRE #01363487
Add your commute

Virtual Tour

Building Information for 507 29th Street

Stories2Residences-Year Built1989Building Size-Lot Size0.07 AC / 3,100 SF

Payment Calculator

$22,519 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,802

Property Taxes

$717

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 507 29th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $219,000
  • Gross Scheduled Income: $219,000
  • Net Operating Income: $191,700
Expense Details
  • Operating Expense: $27,300
  • Insurance Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: 329
  • Tax Tract Number: 421
  • Tax Census Tract: 635.00
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 4
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Watersports, Sidewalks
Property / Structure Info
Interior Features
  • Interior Features: Cathedral Ceiling(s)
  • Room Type: All Bedrooms Up, Family Room, Laundry, Main Floor Primary Bedroom, Primary Bathroom
  • Bedroom Features: All Bedrooms Up
  • Laundry: Yes
  • Laundry Features: Individual Room, Inside, Upper Level
  • Fireplace Features: Living Room, Primary Bedroom
  • Fireplace Rooms: Living Room
  • Cooling: None
  • Heating Type: Central
  • Heating: Central
  • Flooring: Carpet, Tile
  • Virtual Tour URL Unbranded: https://my.matterport.com/show/?m=FqQy5x1N64g
Exterior Features
  • Entry Location: Front door
  • Foundation Details: Slab
  • Property Condition: Turnkey
  • View Description: Bay, Harbor, Water
  • Waterfront Features: Beach Access, Ocean Access
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Level, Zero Lot Line
  • Direction Faces: South
  • Number Of Units: 2
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Carport, Garage
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 2
  • Carport Spaces: 4
  • Parking Features: Carport, Garage, On Site, Tandem Garage
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 13750
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,200
  • Unit Type Total Rent: $3,200
  • Unit Type Pro Forma: 4500
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1

Property History for 507 29th 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 507 29th Street

Taxable ValueLand$347,367Additions$373,782Total$721,149
Tax Record2023$8,609 ($717 / month)
Home Facts
Total Finished SqFt575 SqFtAbove Grade Finished SqFt575 SqFtLot Size3,065 SqFtStyleMiscellaneous CommercialYear Built1936CountyORANGEAPN047-033-17

Schools near 507 29th Street

This home is within Newport-Mesa Unified School District.
Rating
School
Type
Grades
Distance
Newport Elementary School
Public - K to 6
Horace Ensign Intermediate School
Public - 7 to 8
Newport Harbor High School
Public - 9 to 12
Monte Vista High School
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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More information about 507 29th Street, Newport Beach, CA 92663

507 29th Street is a multi-family home for sale in Newport Beach, CA 92663. This property was listed for sale on January 16, 2024 by LMB Enterprises, it's currently listed at $3,995,000. 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. 507 29th Street is a 4-bed, 5-bath, 3,096 sqft multi-family home built in 1989.

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 LMB Enterprises, Larry Birnbaum, DRE #01363487

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.