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$5,495,000
100 Days Online

506 E Oceanfront
Newport Beach, CA 92661

For Sale|Multi-Family|Active
Subdivision:
Balboa Peninsula (Residential) (Balp)
County:
Orange
Listed by David Holstein of The Holstein Group 310-345-9994

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506 E Oceanfront506 E Oceanfront506 E Oceanfront506 E Oceanfront
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$500,000 Price Reduction! Bring All Reasonable Offers for this Once in a lifetime opportunity! 506 E. Oceanfront is NOW available to add to your investment portfolio or utilize it for your primary residence (or both as its zoned as a Duplex). These assets are perfect for investors seeking to capitalize on Newport Beach's bustling rental market booming with potential. This property boasts not one, but 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! Wake up and choose the Bike Path in front, the Volleyball Courts and just a short stroll away, Surf Shops, Restaurants, Markets, The Pier or enjoy the Sand and Pacific Ocean with plenty of parking for your guests.  Not too many places along the California Coastline could offer this much opportunity. Current unit mix; Unit A 1333sf (approx), is a Three Bedroom Two Bath unit Permitted for up to 7 Occupants (buyer to verify) and Unit B 1676sf (approx), is a 4 bedroom 2 1/2 Bath unit Permitted up to 9 Occupants (buyer to verify).   Imagine this serene retreat for yourself or guests! $500,000 Price Reduction Improvement! Bring All Reasonable Offers! Once in a lifetime opportunity! For the 1st time in over 35 years, 506 E. Oceanfront is NOW available to add to your investment portfolio as an investment asset or, utilize it for your future primary residence (or both as its zoned as a Duplex). These assets customarily never hit the market and become generational properties! Don't Hesitate. Don't let this unique opportunity pass you by. Located in the heart of the Balboa Peninsula! Wake up and choose the Bike Path in front, the volleyball courts, or enjoy the sand and Pacific Ocean - all just steps away. If you choose to take a short stroll, you are immediately in the heart of all the action. Just steps to the pier, local restaurants, and plenty of parking for your guests as the city parking facilities are also just steps away. Not too many places along the California Coastline could offer this much opportunity. Current unit mix (Unit A) is a Three Bedroom Two Bath unit - potentially set up to sleep 9 Guests, and Unit B as a 4 bedroom 2 1/2 Bath unit that is potentially set up to sleep 12 Guests... Imagine having 21 guests at your Beach Front Oasis!

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Listing Snapshot
Price 
$5,495,000
Days Online 
100 Days
Bedrooms 
N/A
Inside Area (SqFt) 
3,044 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.06 Acres
Year Built 
1973
MLS® Number 
SB24045420
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a week agoListing updated with changes from the MLS®
2 weeks agoPrice changed to $5,495,000
2 months agoPrice changed to $5,995,000
3 months agoListing first seen online
General Features
Parking Spaces 
3
Sewer 
Public Sewer
Number of Stories 
2
Acreage 
0.06
Water 
Public
Property Sub Type 
Duplex
Garage Spaces 
2
Listing Conditions 
Standard
Interior Features
Appliances 
DryerWasher
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Exterior Features
View 
OceanPierWater
Pool Features 
None
Waterfront Features 
Beach AccessBeach FrontOcean AccessOcean Front
Lot 
Item01 Unit Acre
Community Features
Community Features 
BikingFishingHikingSidewalksWater Sports
Senior Community 
No
MLS Area 
NP - Balboa Peninsula


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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