1628 Oceanfront, Newport Beach

$12,995,000

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13

Beds

11

Baths

0.08

Acres

Listing Agent
Tara Mcnabb - Compass

About 1628 Oceanfront

Unique opportunity to own a fully renovated 11 unit oceanfront vacation rental property that feels like a first class boutique hotel. Welcome to 1628 West Oceanfront, with nine highly sought-after short-term rental permits make it easy to experience investment returns with a projected 4.3% cap rate, create a personal residential compound, or live in one unit and rent the rest. Located on the Balboa Peninsula between the Newport and Balboa piers, the property occupies a large 35' corner lot, giving it more visibility and added privacy with only one direct neighbor. Panoramic views encompass golden sands, the Pacific Ocean, dramatic sunsets, Catalina Island and the Orange County coastline. A beach-front entrance leads to a variety of rooms that includes seven studios; two two-bedroom, one-bath designs; and two one-bedroom, one-bath designs. Depending on the room, guests will enjoy a kitchenette or dine-in kitchen, sitting rooms, ocean-view patios, and luxurious freestanding bathtubs. Every room showcases luxury vinyl plank flooring, soothing white and gray color themes, quartz countertops, Shaker cabinetry, recessed lighting, dual-pane windows, and custom tile work. Marina Park, which features a playground, picnic areas, a beach and basketball courts, is only one block away. Fashion Island shopping and dining, the Balboa Fun Zone, Balboa Island, golf, biking paths and more are all just minutes away.

Features of 1628 Oceanfront

MLS® # OC24086150
Price $12,995,000
Bedrooms 13
Bathrooms 11.00
Acres 0.08
Year Built 1931
Type Residential Income
Sub-Type Mixed Use
Style Contemporary, Modern, Spanish
Status Active Under Contract

Community Information

Address 1628 Oceanfront
Area NP - Balboa Peninsula
Subdivision Balboa Peninsula (Commercial) (BPCD)
City Newport Beach
County Orange
Zip Code 92663

Amenities

Parking Spaces 4
# of Garages 4
Is Waterfront No
Waterfront Beach Access, Ocean Access, Beach Front, Ocean Front
Has Pool No
Pool None

Interior

Interior Features Main Level Primary, Furnished
Appliances Refrigerator
Heating Central
Cooling None
Has Basement No
Fireplace No
Fireplaces None
# of Stories 2
Stories Two

Exterior

Lot Description Corner Lot

Additional Information

Date Listed April 30th, 2024
Days on Market 26
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentTara Mcnabb
OfficeCompass

Listing Map

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