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.
Property Details
Price:
$12,995,000
MLS #:
OC24086243
Status:
Active Under Contract
Beds:
13
Baths:
11
Address:
1628 W Oceanfront
Type:
Single Family
Subtype:
Single Family Residence
Subdivision:
Balboa Peninsula Residential BALP
Neighborhood:
npbalboapeninsula
City:
Newport Beach
Listed Date:
May 1, 2024
State:
CA
Finished Sq Ft:
5,123
ZIP:
92663
Lot Size:
3,485 sqft / 0.08 acres (approx)
Year Built:
1931
Schools
Interior
Cooling
None
Fireplace Features
None
Exterior
Community Features
Sidewalks
Garage Spaces
4.00
Lot Features
Corner Lot, Level
Parking Features
Assigned
Parking Spots
4.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
View
Catalina, Coastline, Ocean, White Water
Water Source
Public
Financial
Association Fee
0.00
Buyer Agent Compensation
2.500
Map
Community
- Address1628 W Oceanfront Newport Beach CA
- AreaNP – Balboa Peninsula
- CityNewport Beach
- CountyOrange
- Zip Code92663
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Courtesy of Compass. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Coldwell Banker Realty include the name of the listing broker. Neither the listing company nor Coldwell Banker Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1628 W Oceanfront
Newport Beach, CA
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