700 E Oceanfront, Newport Beach, CA 92661 – OC25097465

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Gatehouse Properties

info@gatehouseproperties.com +1(714) 743-9882

$ 6,890,000

Est. payment | -/mo

2,613 Sqft Lot

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$ 6,890,000

Est. payment | -/mo

Save Video Tour

2,613 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID OC25097465

Construction Status Turnkey

HOA Y/N No

Year Built 1973

Lot Size 2,613 Sqft

Property Sub-Type Duplex

Property Description

Fabulous remodeled oceanfront getaway, turnkey vacation rental business or BOTH? The choice is yours at 700 E Oceanfront The property presents a fantastic opportunity to own an updated duplex in the heart of the Balboa Peninsula. LOCATION LOCATION LOCATION, this property is near all of the attractions that you and/or your vacation rental guests desire. Steps away from the sand and ocean, the property is located on the boardwalk and walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. The corner location affords unparalleled sunlight and those cooling ocean breezes. The lower 1 bed/1 bath unit is newly remodeled and has its own indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with quartz composite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is well-designed and newly remodeled throughout, including kitchen (w/ island and wine fridge) and entertaining space, as well as 3 generous bedrooms (the Primary has its own kitchenette) and 2 bathrooms. The living/great room features breathtaking views of the ocean and Balboa Pier. The duplex has been professionally managed and meticulously maintained. Notable features include: Air conditioning (new in 2023), new roof, double-paned windows and functional and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. This oceanfront duplex offers a proven track record and excellent reviews from former guests. Incredible income potential with 2 short term rental permits in place. Act quickly! With only 1550 Short Term Rental Permits available in the entire city, having a property with TWO on Oceanfront is truly a rare opportunity.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Zoning RSC-R

Interior

Interior Features Wet Bar, Balcony, Living Room Deck Attached, Open Floorplan, Quartz Counters, Primary Suite

Heating Central, Radiant

Cooling Central Air, See Remarks

Flooring Carpet, Tile

Fireplaces Type None

Inclusions All furniture, furnishings and electronics

Fireplace No

Appliance Dishwasher, Electric Range, Electric Water Heater, Disposal, Gas Range, Gas Water Heater, Microwave, Refrigerator

Laundry Inside, See Remarks

Exterior

Exterior Feature Barbecue

Parking Features Garage, Paved, Garage Faces Rear, Tandem

Garage Spaces 4.0

Garage Description 4.0

Fence None

Pool None

Community Features Biking, Curbs, Fishing, Gutter(s), Hiking, Park, Storm Drain(s), Street Lights, Sidewalks, Water Sports

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Waterfront Description Beach Access,Ocean Access

View Y/N Yes

View Ocean

Total Parking Spaces 4

Private Pool No

Building

Lot Description Corner Lot, Near Public Transit, Walkstreet

Story 2

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 04813512

Security Features Smoke Detector(s)

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

Listed by Dominic Tucci • Pacific Sotheby's Int'l Realty • 949-632-2269

+1(714) 743-9882

info@gatehouseproperties.com

Costa Mesa, CA, 92626, United States

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700 E Oceanfront Newport Beach, CA 92661