Seller's Agent in 2024
Joshua Coburn
Chamberlain Real Estate
(562) 552-1127
1 in this area
37 Total Sales
1402 W Oceanfront Newport Beach, CA 92661
Central Newport Beach Neighborhood
4
Beds
2
Baths
2,400
Sq Ft
3,049
Sq Ft Lot
Highlights
- Ocean View
- Main Floor Bedroom
- No HOA
- Newport Elementary School Rated A
- Private Yard
- 1-minute walk to Newport Beach Playground
About This Home
As of June 2024An 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.
Last Agent to Sell the Property
Chamberlain Real Estate Brokerage Phone: 562-552-1127 License #02027758 Listed on: 05/08/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1945
Lot Details
- 3,049 Sq Ft Lot
- No Common Walls
- Private Yard
Parking
- 1 Car Attached Garage
- Parking Available
- Rear-Facing Garage
Property Views
- Ocean
- Views of a pier
Home Design
- Duplex
- Entry on the 1st floor
Interior Spaces
- 2,400 Sq Ft Home
- 2-Story Property
- Living Room
- Six Burner Stove
Bedrooms and Bathrooms
- 4 Bedrooms | 2 Main Level Bedrooms
- 2 Full Bathrooms
- Walk-in Shower
Laundry
- Laundry Room
- Dryer
- Washer
Accessible Home Design
- More Than Two Accessible Exits
- Accessible Parking
Listing and Financial Details
- Legal Lot and Block 2 / 14
- Tax Tract Number 234
- Assessor Parcel Number 04721210
- $533 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 2 Units
- Balboa Peninsula Subdivision
Recreation
- Park
- Water Sports
- Bike Trail
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/13/2024 06/13/24 | Sold | $5,900,000 | -1.6% | $2,458 / Sq Ft |
| 05/08/2024 05/08/24 | For Sale | $5,995,000 | +81.7% | $2,498 / Sq Ft |
| 12/20/2018 12/20/18 | Sold | $3,300,000 | -5.6% | $1,375 / Sq Ft |
| 11/15/2018 11/15/18 | Price Changed | $3,495,000 | -6.8% | $1,456 / Sq Ft |
| 10/07/2018 10/07/18 | For Sale | $3,750,000 | -- | $1,563 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Joshua Coburn
-
Jeff Pierce
J
Buyer's Agent in 2024
Jeff Pierce
HomeSmart
(310) 691-3498
2 in this area
13 Total Sales
-
Steve High
Seller's Agent in 2018
Steve High
Pacific Sotheby’s International Realty
(949) 874-4724
8 in this area
66 Total Sales
-
Evan Corkett
Buyer Co-Listing Agent in 2018
Evan Corkett
Pacific Sotheby's Int'l Realty
(949) 285-1055
6 in this area
43 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP24093413
APN: 047-212-10
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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