1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
1402 W Oceanfront
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$5,995,000

1402 W Oceanfront

4 Beds 2 Baths 2,400 Sq.Ft.

Description

An Oceanfront Investment Gem: Your Canvas Awaits

Elevate your investment portfolio with this truly rare opportunity on the sands of Newport Beach's Balboa Peninsula. This West Oceanfront Duplex is set on the deepest lot on the Peninsula, measuring 30' x 102.5', providing immediate utilization with ample future development opportunity.

Preliminary plans have been explored for expansion up to a generous 4,000 square feet of living space, allowing you to craft a spectacular oceanfront owner's unit with an INTERNAL ADU. Alternatively, the new owner can execute redevelopment into a 2-unit rental powerhouse, with a 4-bedroom and 3-bedroom stacked short-term rental, potentially generating over $500,000 in gross revenues per year. Perfect for investors seeking to capitalize on the allure of Newport Beach's vibrant rental market, this property boasts not one, but TWO highly coveted, transferable, active short-term-rental permits approved with the city. Buyer to verify all details for their intents and purposes.

In the property's immediate condition, it offers a charming retreat featuring one bedroom, one bathroom, and an inviting open-concept layout in the front. Additionally, there is a two-level 'original condition' residence at the rear of the lot, which includes a 2-bedroom suite and deck above, as well as a 1-car parking garage below.

Beyond the boundaries of your property lies a world of recreation and relaxation, with beach volleyball courts, surf shops, markets, and marinas just steps away. On 15th Street, just a few minutes' walk up the boardwalk, one can find 15th Street Surf Shop, Fry's Market for basic groceries, and Marina Park for strolling the greenery. Indulge in the coastal lifestyle at Newport Beach Pier's boutiques and award-winning eateries, all beckoning for exploration.

But the real magic lies in the potential of this property. With plenty of room to renovate and expand, the possibilities are as vast as the ocean itself. Seize the moment and make your mark on Newport Beach's prestigious and limited shoreline. With opportunities like this, the time to invest in your future is now.

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Location

1402 W Oceanfront, Newport Beach, CA 92661

Status

For Sale

Property Amenities

Interior
Laundry room Laundry Room
Fireplace None
Appliances 6 Burner Stove, Dryer, Washer
Total Bedrooms: 4
Full Bathrooms: 2
Other Interior Features Bedroom on Main Level
Area & Lot
Lot Area 3,049 Sq.Ft.
Living area 2,400 Sq.Ft.
MLS® ID NP24093413
Year Built 1945
School District Newport Mesa Unified
View Description Ocean,Pier,Water
Type Multi-Family
Status For Sale
Exterior
Stories 2
Pool None
Air conditioning None
Disability Features Safe Emergency Egress from Home, Parking
Water Source Public
Garage Space 1.0
Sewer Public Sewer
Parking Concrete, Garage, Garage Faces Rear
Lot Features Yard
Finance
Sales Price $5,995,000
Josh Coburn

Josh Coburn

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Choose a time that works with your schedule to view the property and we will make sure to have a team member there for you.
Thank you for your interest in 1402 W Oceanfront, Newport Beach, CA 92661. We are reviewing your request and will be in touch shortly!

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