NOT LISTED FOR SALE

1402 W Oceanfront Newport Beach, CA 92661

Central Newport Beach Neighborhood
4 Beds
2 Baths
2,400 Sq Ft
3,049 Sq Ft Lot

Last Sold June 13, 2024

Last sale price $5,900,000 $2,458 Per Sq Ft

15 Days on Market

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 2024

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.

Last Agent to Sell the Property

Joshua Coburn

Chamberlain Real Estate Brokerage Phone: 562-552-1127 License #02027758 Listed on: 05/08/2024

Last Buyer's Agent

Jeff Pierce

HomeSmart License #01802919

HomeSmart

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

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

Property Details

Home Type

Multi-Family

Year Built

Built in 1945

Lot Details

0

Parking

1

Listing Details

  • Structure Type: Duplex
  • Assessments: Yes
  • Property Attached: No
  • Subdivision Name Other: Balboa Peninsula (Residential) (BALP)
  • View: Yes
  • Property Sub Type: Duplex
  • Property Type: Residential
  • Parcel Number: 04721210
  • Year Built: 1945
  • Special Features: None

Interior Features

  • Fireplace: No
  • Living Area: 2400.00 Square Feet
  • Stories: 2
  • Entry Location: Street and/or Alley
  • Common Walls: No Common Walls
  • Accessibility Features: 2+ Access Exits, Parking
  • Appliances: Yes
  • Full Bathrooms: 2
  • Full And Three Quarter Bathrooms: 2
  • Total Bedrooms: 4
  • Entry Level: 1
  • Levels: Two
  • Main Level Bathrooms: 1
  • Main Level Bedrooms: 2
  • Price Per Square Foot: 2458.33
  • Room Type: Kitchen, Living Room, Main Floor Bedroom
  • Bathroom Features: Shower

Exterior Features

  • View: Ocean, Pier, Water
  • Pool Private: No

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Concrete, Garage, Garage Faces Rear
  • Total Parking Spaces: 1.00

Utilities

  • Laundry: Yes
  • Appliances: 6 Burner Stove
  • Laundry Features: Dryer Included, Individual Room, Washer Included
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking, Curbs, Park, Watersports

Schools

  • School District: Newport Mesa Unified

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Yard
  • Lot Size Sq Ft: 3049.00
  • Lot Size Acres: 0.0700
  • Latitude Manual: 33.60623300

Multi Family

  • Lease Considered: No
  • Lot Size Area: 3049.0000 Square Feet
  • Number Of Units Total: 2

Tax Info

  • Tax Block: 14
  • Tax Census Tract: 628.00
  • Tax Lot: 2
  • Tax Tract Number: 234
  • TaxOtherAnnualAssessmentAmount: 533.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

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

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2024

    Joshua Coburn

    Chamberlain Real Estate

    (858) 900-3312

    1 in this area

    26 Total Sales

    Joshua Coburn
    Section Image

  • J

    Buyer's Agent in 2024

    Jeff Pierce

    HomeSmart

    (310) 691-3498

    2 in this area

    10 Total Sales

    Jeff Pierce
    Section Image
  • Steve High

    Seller's Agent in 2018

    Steve High

    Pacific Sotheby’s International Realty

    (949) 874-4724

    10 in this area

    72 Total Sales

    Steve High
    Section Image
  • Evan Corkett

    Buyer Co-Listing Agent in 2018

    Evan Corkett

    Pacific Sotheby's Int'l Realty

    (949) 285-1055

    8 in this area

    51 Total Sales

    Evan Corkett
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP24093413

California Regional Multiple Listing Service (CRMLS)

APN: 047-212-10

California Orange County Newport Beach 92661 Central Newport Beach

1402 W Oceanfront, Newport Beach, CA

This home is located at 1402 W Oceanfront, Newport Beach, CA 92661 since 08 May 2024. This property was built in 1945. 1402 W Oceanfront is a home located in Orange County with nearby schools including Newport Elementary School, Horace Ensign Intermediate School, and Newport Harbor High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) 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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