506 E Oceanfront
Newport Beach, CA 92661
- – beds
- – baths
- – sqft
- 2,614 sqft lot
- 1973 build
- – on site
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$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 should not be overlooked! Other options to consider, park money here for your 1031 exchange? or lease it out to long term tenants? Opportunities are endless!
Last checked:
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Last updated Nov 16, 2024
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MLS# SB24045420 —
The Building
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Year Built:1973
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:3044.00
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Building Area Units:Square Feet
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Total Number Of Units:2
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:2
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# of Separate Water Meters:1
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# of Separate Electric Meters:2
Interior
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Levels:Two
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Entry Location:side
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Laundry:Dryer Included, Washer Included
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Laundry:1
Location
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Directions:Balboa Blvd to Oceanfront
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Latitude:33.60218300
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Longitude:-117.90169300
The Property
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Property Type:Residential Income
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Subtype:Duplex
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Lot Features:0-1 Unit/Acre
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Lot Size Area:2614.0000
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Lot Size Acres:0.0600
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Lot Size SqFt:2614.00
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Lot Size Source:Assessor
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View:1
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View:Ocean, Pier, Water, White Water
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:6
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Tax Census Tract:628.00
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Tax Tract:104
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Tax Lot:12
The Listing
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Special Listing Conditions:Standard
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Parcel Number:04812210
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision:Balboa Peninsula (Residential) (BALP)
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Subdivision:Balboa Peninsula (Residential) (BALP)
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Features:Biking, Fishing, Hiking, Watersports, Sidewalks
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Pool:None
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Waterfront Features:Beach Access, Beach Front, Ocean Access, Ocean Front
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:3.00
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Garage Spaces:2.00
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Uncovered Spaces:1.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
9/9/24
Sep 9, 2024
|
BRIDGE | $4,995,000 | ||
|
7/11/24
Jul 11, 2024
|
BRIDGE | $4,995,000 | -16.7% | |
|
4/30/24
Apr 30, 2024
|
BRIDGE | $5,995,000 |
