About 1402 W Oceanfront
PRELIMINARY PLANS TO EXPAND UP TO 3800 SF! This large multi-family lot allows you to develop a spectacular, oceanfront owners unit PLUS an ADU in the back of the property. Ideal for primary or second home owners that desire to offset annual costs with rental income from the ADU. The property comes complete with two highly coveted active short-term-rental permits from the city of Newport Beach, this oceanfront property on an extra large lot is located right on the sand and a convenient boardwalk location on the Balboa Peninsula with strong short term rental history. Spectacular beach views are enjoyed from the existing front home, which offers one bedroom and one bathroom in an open-concept single-story floorplan. Enjoy a gated front patio, ocean-view living room, a white dine-in kitchen, laundry porch, luxury vinyl plank flooring and crown molding. An additional two-level home at the back of the property features three bedrooms and two baths. Walk across the sand to beach volleyball courts, playground, 15th street Surf Shop, Fry's Market or explore nearby Marina Park, the Fun Zone, Newport Beach’s famous pier, and the upscale shops and restaurants at Lido Marina Village. Surfing, golf, Fashion Island, movie theaters and more are all moments away. LOTS OF OPPORTUNITES to renovate and expand the current home to meet your needs and financial objectives! Please also see MLS# OC23207499 in the Multi-family Income Property section of the MLS to learn more about preliminary plans and pro-forma financial analysis to build a new 3822 sf duplex with 1200 sf of decks on this lot!
Features of 1402 W Oceanfront
| MLS® # | OC23207502 |
|---|---|
| Price | $5,995,000 |
| Bedrooms | 4 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Square Footage | 2,400 |
| Acres | 0.07 |
| Year Built | 1945 |
| Type | Residential |
| Sub-Type | Duplex |
| Status | Active |
Community Information
| Address | 1402 W Oceanfront |
|---|---|
| Area | NP - Balboa Peninsula |
| Subdivision | Balboa Peninsula (Residential) (BALP) |
| City | Newport Beach |
| County | Orange |
| State | CA |
| Zip Code | 92661 |
Amenities
| Parking Spaces | 2 |
|---|---|
| Parking | Direct Access, Garage, Garage Faces Rear |
| # of Garages | 2 |
| Garages | Direct Access, Garage, Garage Faces Rear |
| View | Catalina, City Lights, Coastline, Ocean |
| Is Waterfront | No |
| Waterfront | Beach Front, Ocean Front |
| Has Pool | No |
| Pool | None |
Interior
| Interior | Vinyl |
|---|---|
| Interior Features | Bedroom on Main Level |
| Appliances | Dishwasher, Gas Cooktop, Disposal, Microwave |
| Heating | Electric |
| Cooling | None |
| Has Basement | No |
| Fireplace | Yes |
| Fireplaces | None |
| # of Stories | 2 |
| Stories | One, Two |
Exterior
| Lot Description | Level, Rectangular Lot |
|---|
School Information
| District | Newport Mesa Unified |
|---|---|
| Elementary | Newport |
| Middle | Ensign |
| High | Newport Harbor |
Additional Information
| Date Listed | November 8th, 2023 |
|---|---|
| Days on Market | 20 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 0.00 |
Listing Details
| Agent | Tara Mcnabb |
|---|---|
| Office | Compass |