$12,995,000
Beds: 13
Baths: 11
Sqft: 5,123
Sqft lot: 3,484
Acre lot: 0.08
15 Days On Market -

Property listed by Compass, Tara McNabb taralmcnabb@icloud.com

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Status: Activeundercontract
Property Type: Single Family Residence
Year Built: 1931
Neighborhood: Balboa Peninsula (residential) (balp)
Days On Website: 15
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

Bathrooms

  • 5 main level bathrooms
  • 11 full bathrooms
  • 11 total bathrooms

Bedrooms

  • 5 main level bedrooms
  • 13 total bedrooms

Building

  • Built in 1931
  • Levels: Two
  • Living area: 5123
  • 2 stories
  • Common walls: NoCommonWalls

Community

  • Sidewalks

Cooling

  • None

Fireplaces

  • None

Garage

  • 4 spaces

Laundry

  • CommonArea

Listing

  • ListingID: OC24086243
  • Standard status: ActiveUnderContract
  • 5 days on market

Location

  • Country: US
  • Subdivision name: Balboa Peninsula (Residential) (BALP)

Lot

  • 0.08 acres
  • 3,485 square feet
  • Size: 3,485
  • CornerLot
  • Level

Parking

  • 4 totals parking
  • Assigned

Pool

  • None

Property

  • Catalina
  • Coastline
  • Ocean
  • BeachAccess
  • BeachFront
  • OceanFront

Sewer

  • PublicSewer

Property Map

Map View

$12,995,000 - 1628 W Oceanfront, Newport Beach, CA 92663

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Directions

1628 W Oceanfront
Newport Beach, CA 92663
Country: US

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