1504 W Oceanfront Unit 5 Newport Beach, CA 92663
Central Newport Beach NeighborhoodEstimated payment $169,520/month
Highlights
- Ocean View
- Roof Top Spa
- Fireplace in Primary Bedroom Retreat
- Newport Elementary School Rated A
- Dual Staircase
- 2-minute walk to Newport Beach Playground
About This Home
Experience luxury beach front living and investment potential with 1504 W Oceanfront, a one-of-a-kind mixed-use property in Newport Beach on the Balboa Peninsula. This premier property spans approximately 7,609 square feet on a 5,000-square-foot corner lot with 100 feet of ocean frontage and breathtaking panoramic views from Newport Pier to Balboa Pier and beyond.Three residential units with three short-term lodging permits and two commercial spaces, this exceptional five-unit offering blends coastal charm with modern luxury. The commercial spaces include the iconic “15th Street Surf Shop” retail store and an oceanfront restaurant currently under renovation, formerly known as “The Stuft Surfer”. The three separate residential units consist of a three bedroom residence, a newly built two bedroom residence with an office/bonus room, in addition to a newly constructed one bedroom unit. All three units hold short-term rental permits (SLPs), a rare and valuable asset in Newport Beach. This property is primed for exceptional income generation, with pro forma projections estimating $920,608 in annual gross revenue combined from short-term rentals and commercial leasing.A standout feature of this estate is its expansive 50x50-foot rooftop deck, one of the largest oceanfront decks on the Balboa Peninsula, offering unparalleled ocean and bay views with endless opportunities for entertainment and relaxation.1504 W Oceanfront is not just a five-in-one compound; it’s a legacy property that delivers both immediate value and long-term returns in the highly coveted Newport Beach market.
Listing Agent
Pacific Sotheby's Int'l Realty Brokerage Phone: 949-287-1021 License #02028221 Listed on: 03/18/2025
Co-Listing Agent
Pacific Sotheby's Int'l Realty Brokerage Phone: 949-287-1021 License #01857997
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $26,365
Year Built
- Built in 1962
Lot Details
- 5,000 Sq Ft Lot
- Lot Dimensions are 50x100
- 1 Common Wall
- Corner Lot
- Density is up to 1 Unit/Acre
Parking
- 4 Car Garage
- Parking Available
Property Views
- Ocean
- Marina
- Coastline
- Bay
- Views of a pier
- Panoramic
- City Lights
- Courtyard
Home Design
- Split Level Home
- Property Attached
Interior Spaces
- 7,609 Sq Ft Home
- 3-Story Property
- Dual Staircase
- Built-In Features
- Bar
- Beamed Ceilings
- Cathedral Ceiling
- Formal Entry
- Family Room
- Living Room with Fireplace
- Bonus Room
Bedrooms and Bathrooms
- 6 Bedrooms
- Main Floor Bedroom
- Fireplace in Primary Bedroom Retreat
- 6 Bathrooms
Laundry
- Laundry Room
- Gas And Electric Dryer Hookup
Outdoor Features
- Roof Top Spa
- Balcony
- Exterior Lighting
- Rain Gutters
Utilities
- Zoned Heating and Cooling
Listing and Financial Details
- Legal Lot and Block 2 / B
- Tax Tract Number 518
- Assessor Parcel Number 04721128
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 5 Units
- Balboa Peninsula Subdivision
Amenities
- Laundry Facilities
Recreation
- Water Sports
Building Details
- 2 Leased Units
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 3 Separate Water Meters
- Electric Expense $3,600
- Fuel Expense $1,800
- Insurance Expense $3,000
- Professional Management Expense $19,749
- Trash Expense $1,800
- Water Sewer Expense $1,800
- Operating Expense $31,749
- Gross Income $181,227
- Net Operating Income $690,456
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $26,365 | $2,421,085 | $1,643,043 | $778,042 |
| 2023 | $25,859 | $2,384,790 | $1,610,827 | $773,963 |
| 2022 | $19,755 | $1,799,072 | $1,579,242 | $219,830 |
| 2021 | $19,381 | $1,763,797 | $1,548,277 | $215,520 |
| 2020 | $19,194 | $1,745,712 | $1,532,401 | $213,311 |
| 2019 | $18,808 | $1,711,483 | $1,502,354 | $209,129 |
| 2018 | $18,437 | $1,677,925 | $1,472,896 | $205,029 |
| 2017 | $18,457 | $1,677,581 | $1,444,016 | $233,565 |
| 2016 | $18,048 | $1,644,688 | $1,415,702 | $228,986 |
| 2015 | $17,875 | $1,588,251 | $1,367,122 | $221,129 |
| 2014 | $40,363 | $3,767,025 | $3,515,890 | $251,135 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/18/2025 03/18/25 | For Sale | $29,950,000 | 0.0% | $3,936 / Sq Ft |
| 03/18/2025 03/18/25 | For Sale | $29,950,000 | 0.0% | $3,936 / Sq Ft |
| 02/21/2025 02/21/25 | Off Market | $29,950,000 | -- | -- |
| 02/21/2025 02/21/25 | Off Market | $29,950,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | -- | None Available | |
| Interfamily Deed Transfer | -- | First American Title Company | |
| Interfamily Deed Transfer | -- | First American Title Ins Co | |
| Grant Deed | $1,115,000 | First American Title Ins Co |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $60,000 | Unknown | |
| Previous Owner | $650,000 | Commercial | |
| Previous Owner | $865,000 | Commercial |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP25025311
APN: 047-211-28
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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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