700 East Oceanfront

Newport Beach, CA 92661

$5,000,000
Last Sold Price
4
Beds
3
Baths
2,310 Sq. Ft.
$2,165 / Sq. Ft.
2,310
Sq. Ft.
$2,165
per Sq. Ft.

Description

700 E Oceanfront presents a fantastic opportunity to own a duplex in the heart of the Balboa Peninsula. All about the location, this property is near all the desirable attractions the area has to offer. Steps away from the sand and ocean, 700 E Oceanfront is sited along the boardwalk and the Peninsula’s famous bike path. Walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. Featuring two units, this property offers incredible income potential....700 E Oceanfront presents a fantastic opportunity to own a duplex in the heart of the Balboa Peninsula. All about the location, this property is near all the desirable attractions the area has to offer. Steps away from the sand and ocean, 700 E Oceanfront is sited along the boardwalk and the Peninsula’s famous bike path. Walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. Featuring two units, this property offers incredible income potential. The lower unit features a bedroom and a bathroom, along with indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with granite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is smartly divided into two separate sections and encompasses a total of three bedrooms and two bathrooms. The front portion features two of the bedrooms as well as a full bath. Smartly upgraded kitchen and a living area offer ample entertaining space. The large front bedroom features a fireplace and breathtaking views of the ocean and Balboa Pier. The back section of the upstairs features bedroom, a bath and a kitchenette as well as living and dining areas. 700 E Oceanfront is a meticulously maintained property, with air conditioning, double-paned windows and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. Incredible income potential with short term rental permits in place.
  1. Listed by Timothy Carr • DRE #01017277 • Brokerage DRE #01925726 • Villa Real Estate

Property Details for 700 East Oceanfront

View
Ocean, White Water
Parking Spaces Total
5
Private Pool
No
Cooling Type
Central Forced Air
Total Units
2.0
Building Type
Detached
Lot Size Source
Public Records
Living Area
2310

Location

Listing Courtesy of Villa Real Estate, Timothy Carr, DRE #01017277

Sold By Villa Real Estate, Dominic Tucci, DRE #01506188

Add your commute
LISTING UPDATED: 11/18/2022 04:34 AM

Property Details for 700 East Oceanfront

StatusClosed
MLS #NP22145462
Days on Market98
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1973
Lot Size0.06 AC / 2,614 SF
CountyOrange County

Location

Listing Courtesy of Villa Real Estate, Timothy Carr, DRE #01017277

Sold By Villa Real Estate, Dominic Tucci, DRE #01506188

Add your commute

Building Information for 700 East Oceanfront

Stories2Residences-Year Built1973Building Size-Lot Size0.06 AC / 2,614 SF

Payment Calculator

$31,647 per month

30 year fixed, 7.25% Interest

Principal and Interest

$27,287

Property Taxes

$4,360

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 700 East Oceanfront

Rental Info
Rental Info
  • Tenant Pays: None
Income / Expense / Tax Details
Income Details
  • Gross Income: $248,134
  • Gross Scheduled Income: $248,134
  • Gross Operating Income: $248,135
  • Net Operating Income: $0
  • Financing: Cash
Expense Details
  • Operating Expense: $0
  • Licenses Expense: $97
  • Insurance Expense: $2,000
  • Maintenance Expense: $300
  • Professional Management Expense: $0
  • Other Expense Description: 0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $0
Tax / Assessment Info
  • Tax Block: 10
  • Tax Tract Number: 104
  • Tax Census Tract: 628.00
  • CFD/Mello-Roos Fee: $507
  • Tax Lot: 9
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: Yes
  • Assessments: Sewer Assessments, Buyer to Verify
  • Community Features: Biking, Park, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Gas Range
  • Equipment: Dryer, Dryer Included, Inside, Washer, Washer Included
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Fireplace Features: Master Bedroom
  • Fireplace Rooms: Master Bedroom
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring: Carpet, Vinyl
Exterior Features
  • Window Features: Double Pane Windows
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Property Condition: Updated/Remodeled
  • View Description: Ocean, White Water
  • Waterfront Features: Beach Access
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Corner Lot
  • 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
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Door Opener, Garage
  • Uncovered Spaces: 1
  • Open Other Spaces Total: 1
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Garage, Garage Faces Rear, Garage Door Opener
Property / Structure Info
  • Builders Tract Name: Balboa Peninsula (BALP)
  • Builders Tract Code: Balboa Peninsula (Residential) (BALP)
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $94,230
  • Unit Type Total Rent: $94,230
  • Unit Type Pro Forma: 94230
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $153,903
  • Unit Type Total Rent: $153,903
  • Unit Type Pro Forma: 153903
  • 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
  • Number With Dishwasher: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Number With Carpet: 2
  • Number With Drapes: 2
  • Number With Patio: 2
  • Number Wall AC: 0

Property History for 700 East Oceanfront

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 700 East Oceanfront

Taxable ValueLand$4,864,150Additions$135,850Total$5,000,000
Tax Record2023$52,317 ($4,360 / month)
Home Facts
Total Finished SqFt2,310 SqFtAbove Grade Finished SqFt2,310 SqFtStories2Lot Size2,566 SqFtStyleDuplexYear Built1973CountyORANGEAPN048-135-12

Schools near 700 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.

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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. 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 Villa Real Estate, Timothy Carr, DRE #01017277

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.