Seller's Agent in 2024
Tara McNabb
Compass
(949) 500-3910
18 in this area
101 Total Sales
1628 W Oceanfront Newport Beach, CA 92663
Central Newport Beach Neighborhood
13
Beds
11
Baths
5,123
Sq Ft
3,485
Sq Ft Lot
Highlights
- Beach Front
- White Water Ocean Views
- No HOA
- Newport Elementary School Rated A
- Corner Lot
- 4-minute walk to Marina Park
About This Home
As of June 2024Unique 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.
Last Agent to Sell the Property
Compass Brokerage Email: taralmcnabb@icloud.com License #01871729 Listed on: 05/01/2024
Last Buyer's Agent
Compass Brokerage Email: taralmcnabb@icloud.com License #01871729 Listed on: 05/01/2024
Home Details
Home Type
- Single Family
Year Built
- Built in 1931
Lot Details
- 3,485 Sq Ft Lot
- Beach Front
- Corner Lot
- Level Lot
Parking
- 4 Car Attached Garage
- Parking Available
- Assigned Parking
Property Views
- White Water Ocean
- Coastline
- Catalina
Interior Spaces
- 5,123 Sq Ft Home
- 2-Story Property
- Living Room
- Laundry Room
Bedrooms and Bathrooms
- 13 Bedrooms | 5 Main Level Bedrooms
- 11 Full Bathrooms
Listing and Financial Details
- Legal Lot and Block 13 / 16
- Tax Tract Number 515
- Assessor Parcel Number 04720228
- $2,824 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- Balboa Peninsula Subdivision
Amenities
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/14/2024 06/14/24 | Sold | $12,150,000 | 0.0% | $2,372 / Sq Ft |
| 06/14/2024 06/14/24 | Sold | $12,150,000 | -6.5% | $2,372 / Sq Ft |
| 06/12/2024 06/12/24 | Price Changed | $12,995,000 | 0.0% | $2,537 / Sq Ft |
| 06/12/2024 06/12/24 | For Sale | $12,995,000 | 0.0% | $2,537 / Sq Ft |
| 06/12/2024 06/12/24 | Price Changed | $12,995,000 | 0.0% | $2,537 / Sq Ft |
| 06/12/2024 06/12/24 | For Sale | $12,995,000 | 0.0% | $2,537 / Sq Ft |
| 05/01/2024 05/01/24 | For Sale | $12,995,000 | 0.0% | $2,537 / Sq Ft |
| 05/01/2024 05/01/24 | For Sale | $12,995,000 | +176.5% | $2,537 / Sq Ft |
| 08/26/2016 08/26/16 | Sold | $4,700,000 | +5.6% | $855 / Sq Ft |
| 07/29/2016 07/29/16 | Pending | -- | -- | -- |
| 05/23/2016 05/23/16 | For Sale | $4,450,000 | -- | $809 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Tara McNabb
-
Vicki Lee
Seller's Agent in 2016
Vicki Lee
Compass
(949) 466-3224
10 in this area
24 Total Sales
-
Chris Wen
Buyer's Agent in 2016
Chris Wen
Walton Realty Inc.
(626) 854-2888
20 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC24086243
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