NOT LISTED FOR SALE

1514 W Oceanfront Newport Beach, CA 92663

Central Newport Beach Neighborhood
6 Beds
3 Baths
2,800 Sq Ft
3,049 Sq Ft Lot

Last Sold June 21, 2021

Last sale price $5,995,000 $2,141 Per Sq Ft

51 Days on Market

Highlights

  • Beach Front
  • White Water Ocean Views
  • Ocean Side of Highway 1
  • Newport Elementary School Rated A
  • Property has ocean access
  • 3-minute walk to Marina Park

About This Home

As of June 2021

Extraordinary opportunity to own a premier beachfront parcel in Balboa Peninsula with three transferable short term lodging permits. Capturing the symphonic pounding of surf, this pristine two-story beach-front compound is comprised of three spacious units and is constructed with features such as beamed ceilings, recessed lighting, brick fireplaces, and wood flooring. The front-facing units A and B offer views of the idyllic beaches of Newport from the balcony/deck, while the back unit offers privacy and serenity just moments from the sand. With an option to vacation or live in one unit and rent out the others, 1514 W Oceanfront is ideal as an exceptional compound for significant income opportunity or a seaside retreat for family and friends. Having achieved a net operating income of approximately $254,174 in 2020 amidst COVID-19 city restrictions, and adjusting for new property taxes for 2021, the triplex proves tremendous value and anticipates a net operating income of approximately $240,000 with a cap rate of approximately 4%.

Last Agent to Sell the Property

Tim Smith

Coldwell Banker Realty License #01346878 Listed on: 04/06/2021

Coldwell Banker Realty

Co-Listed By

Greg Blake

Coldwell Banker Realty License #01227057

Last Buyer's Agent

Tim Byrne

Compass License #01186465

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 3,049 Sq Ft Lot
  • Beach Front
  • No Common Walls
  • Masonry wall
  • Block Wall Fence
  • No Landscaping
  • Level Lot

Parking

  • 3 Car Garage

Property Views

  • White Water Ocean
  • Panoramic

Home Design

  • Triplex
  • Turnkey
  • Fire Rated Drywall
  • Shingle Roof
  • Stucco

Interior Spaces

  • 2,800 Sq Ft Home
  • 2-Story Property
  • Beamed Ceilings
  • Ceiling Fan
  • Recessed Lighting
  • Track Lighting
  • Fireplace Features Masonry
  • Gas Fireplace
  • Window Screens
  • Sliding Doors
  • Family Room with Fireplace
  • Living Room with Fireplace
  • Dining Room with Fireplace

Kitchen

  • Convection Oven
  • Built-In Range
  • Ceramic Countertops
  • Disposal

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • Fireplace in Primary Bedroom
  • Mirrored Closets Doors
  • 3 Bathrooms

Laundry

  • Laundry Room
  • 220 Volts In Laundry

Outdoor Features

  • Property has ocean access
  • Ocean Side of Highway 1
  • Balcony
  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Wall Furnace
  • 220 Volts in Garage
  • 220 Volts in Kitchen
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 8 / 15
  • Tax Tract Number 515
  • Assessor Parcel Number 04721120

Community Details

Overview

  • No Home Owners Association
  • 3 Units
  • Balboa Peninsula Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 3 Separate Water Meters
  • Electric Expense $1,468
  • Fuel Expense $1,468
  • Insurance Expense $1,308
  • Maintenance Expense $2,164
  • Other Expense $32,400
  • Professional Management Expense $74,720
  • Trash Expense $1,468
  • Water Sewer Expense $1,468
  • New Taxes Expense $63,117
  • Operating Expense $141,394
  • Gross Income $424,716
  • Net Operating Income $254,174

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Parking

3

Listing Details

  • Ad Number: 949.500.8684
  • CapRate: 4.23
  • Inclusions: All furnishings including cookware, kitchenware, linens, A/V equipment, and accessories.
  • Other Phone Description: Greg Blake
  • Other Phone Number: 949.500.8684
  • Professional Management Expense: 74720.00
  • Property Attached: No
  • Road Surface Type: Alley Paved, Paved
  • Subdivision Name Other: Balboa Peninsula (Residential) (BALP)
  • View: Yes
  • Water Sewer Expenses: 1468.00
  • Property Condition: Turnkey
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 04721120
  • Year Built: 1957
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Balcony, Beamed Ceilings, Ceiling Fan(s), Ceramic Counters, Recessed Lighting, Tile Counters, Track Lighting
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Laminate, Tile
  • Appliances: Yes
  • Door Features: Mirror Closet Door(s), Sliding Doors
  • Fireplace Features: Dining Room, Family Room, Living Room, Master Bedroom, Gas, Masonry
  • Levels: Two
  • Price Per Square Foot: 2141.07
  • Room Type: Family Room
  • Window Features: Screens

Exterior Features

  • Exterior Features: Lighting
  • View: Ocean, Panoramic, Water, White Water
  • Fence: Yes
  • Fencing: Block, Masonry
  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Construction Materials: Drywall Walls, Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 3.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Built-In Range, Convection Oven, Disposal, Gas Range, Gas Cooktop, Gas Water Heater, Refrigerator
  • Electric: 220 Volts in Garage, 220 Volts in Kitchen, 220 Volts in Laundry, Electricity - On Property, Standard
  • Heating Type: Wall Furnace, Natural Gas, Fireplace(s)
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1468.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Biking

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street, No Landscaping
  • Lot Size Sq Ft: 3049.00
  • Lot Size Acres: 0.0700

Multi Family

  • Electric Expense: 1468.00
  • Fuel Expense: 1468.00
  • Gross Income: 424716.00
  • Gross Scheduled Income: 424716.00
  • Insurance Expense: 1308.00
  • Laundry Income: 1000.00
  • Lot Size Area: 3049.0000 Square Feet
  • Maintenance Expense: 2164.00
  • Net Operating Income: 254174.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 3
  • Number Of Units Total: 3
  • Operating Expense: 141394.00
  • Other Expense: 32400.00
  • Other Expense Description: Bed Tax
  • Other Income1: 22435.00
  • Other Income Description: Cleaning fees
  • Rent Control: No
  • Total Expenses: 141394.00
  • Waterfront Features: Beach Access, Beach Front, Ocean Access, Ocean Front, Ocean Side of Freeway, Ocean Side Of Highway 1

Tax Info

  • New Taxes Expense: 63117.00
  • Tax Block: 15
  • Tax Census Tract: 628.00
  • Tax Lot: 8
  • Tax Tract Number: 515

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
06/21/2021 06/21/21 Sold $5,995,000 0.0% $2,141 / Sq Ft
04/06/2021 04/06/21 For Sale $5,995,000 -- $2,141 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tim Smith

    Seller's Agent in 2021

    Tim Smith

    Coldwell Banker Realty

    (949) 717-4711

    13 in this area

    721 Total Sales

    Section Image
  • Greg Blake

    Seller Co-Listing Agent in 2021

    Greg Blake

    Coldwell Banker Realty

    (949) 644-1600

    2 in this area

    15 Total Sales

    Section Image
  • Tim Byrne

    Buyer's Agent in 2021

    Tim Byrne

    Compass

    (310) 801-3442

    2 in this area

    45 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP21063345

California Regional Multiple Listing Service (CRMLS)

APN: 047-211-20

California Orange County Newport Beach 92661 Central Newport Beach

1514 W Oceanfront, Newport Beach, CA

This home is located at 1514 W Oceanfront, Newport Beach, CA 92663 since 06 April 2021. This property was built in 1957. 1514 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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