$4,000,000Sold Price
3,044 Sqft
2,614 Sqft

506 Oceanfront, Newport Beach, CA 92661

  • Residential Income Property Type
  • 1973 Year Built
Property Description

$500,000 Price Reduction! Bring All Reasonable Offers for this Once in a lifetime opportunity! This asset is a once in a lifetime opportunity! Options to utilize it for your primary residence, 50% as your primary residence (since it’s a legal duplex), and/or keep it fully in the rental pool generating income while having it accessible to use personally when vacant. Included in the sale, TWO highly coveted, transferable, active Short-Term-Lodging permits approved with the city. Buyer to verify all details for their intents and purposes.  Located in the heart of the Balboa Peninsula on the Newport Beach Sand! Occupants can enjoy the immediate social life of the Bike Path & Volleyball Courts or a short stroll to the Surf Shops, Restaurants, Markets, and The Pier. Short term permits allow for approximate 16 occupants (buyer to verify) between the 2 units (Unit A, approximately 1333 sq ft.), a Three Bedroom Two Bath unit, and Unit B (approximately 1676 sq. ft), is a 4 bedroom 2 1/2 Bath. Special Note: Across the bike path from this asset, your resident’s and their guest can enjoy access to a giant city parking facility. This asset has it ALL. Parking, Duplex, High Occupancy Potential, Income, Sand Location, Bike Path and immediate ocean/sand access. This is an heirloom asset that sh

Basic Details
Residential Income
Duplex
Sold
CRSB24045420
$4,995,000
Water,Other,Ocean
204
3,044 Sqft
1973
2,614 Sqft
0.06 Acre
Closed
Features
: Other
Public Sewer
: Dryer, Washer
Address Map
CA
Orange
Newport Beach
92661
Oceanfront
506
W118° 5' 53.9''
N33° 36' 7.9''
E
Balboa Blvd to Oceanfront
Additional Info
The Holstein Group
David Holstein
david@theholsteingroup.com
Sold
Public
For Sale
Price History
11/15/2024
$4,000,000
09/18/2024
03/05/2024
$6,500,000
$5,495,000
Additional Information
3044
Listing Information
2024-11-16T01:02:54Z
BayEast
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    Agent info
    Realty++
    Rekha Mahalingam
    Realty++
    Subhash Kapur
    Realty++
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    Mallik@rRealtyplusplus.com (510) 299-6629