$2,060,000
SOLD OCT 24, 2024
5 Beds
3 Baths
1,968 Sq Ft
2,566 Sq Ft Lot

Recently Sold

$1,047 Per Sq Ft

18% Below List Price

40 Days on Market

Highlights

  • Property has ocean access
  • Across the Road from Lake or Ocean
  • Corner Lot
  • Newport Elementary School Rated A
  • Traditional Architecture
  • 5-minute walk to West Newport Park

About This Home

As of October 2024

**Newport Beach Duplex Opportunity!**Located in the highly sought-after "Newport Shores" community in Southern California, this duplex has been updated in recent years and offers exceptional value. Featuring two beautifully designed units, this property is an ideal investment. The first unit is a 3-bedroom, 2-bathroom space, while the second unit comprises 2 bedrooms and 1 bathroom.
The property includes a 2-car garage, a carport, and shared laundry facilities. Both units boast spacious, open floor plans filled with natural light and a refreshing ocean breeze. The 3-bedroom unit features a large balcony at the back and another at the front, providing ample sunlight and outdoor enjoyment. The 2-bedroom unit has a sliding glass door at the front, offering lots of light and access to cool ocean breezes.
Well-maintained with longstanding tenants, the property offers the following rental details:
- **Lower Unit (A)**: 2 bed / 1 bath updated several years ago, currently rented at $2,800/month (underperforming).
- **Upper Unit (B)**: 3 bed / 2 bath, recently remodeled, currently rented at $3,600/month (underperforming).
This is a fantastic chance to invest in a fully occupied duplex in the desirable "Newport Shores" neighborhood. Tenants will enjoy the Southern California lifestyle, with easy access to beaches, surfing, paddleboarding, boating, and biking.

Last Agent to Sell the Property

Tim Beans

Compass Brokerage Phone: 949-933-8496 License #01870987 Listed on: 05/28/2024

Compass

Last Buyer's Agent

Tim Beans

Compass Brokerage Phone: 949-933-8496 License #01870987 Listed on: 05/28/2024

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1974

Lot Details

  • 2,566 Sq Ft Lot
  • No Common Walls
  • Wood Fence
  • Corner Lot
  • Rectangular Lot

Parking

  • 2 Car Garage
  • 2 Carport Spaces
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Duplex
  • Traditional Architecture

Interior Spaces

  • 1,968 Sq Ft Home
  • 2-Story Property
  • High Ceiling
  • Ceiling Fan

Kitchen

  • Gas Oven
  • Gas Cooktop

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Outdoor Features

  • Property has ocean access
  • Beach Access
  • Balcony
  • Exterior Lighting

Location

  • Across the Road from Lake or Ocean

Utilities

  • Central Heating
  • Natural Gas Connected
  • Water Heater
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 9 / 7
  • Tax Tract Number 709
  • Assessor Parcel Number 42443401
  • $528 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Units
  • Newport Shores Subdivision

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 2 Separate Water Meters
  • Gross Income $76,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1974

Lot Details

0

Parking

2

Listing Details

  • Assessments: No
  • Price Per Unit: 1149500
  • Property Attached: No
  • Subdivision Name Other: Newport Shores (NEWS)
  • Architectural Style: Traditional
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 42443401
  • Year Built: 1974
  • Special Features: None

Interior Features

  • Interior Amenities: Balcony, Ceiling Fan(s), High Ceilings
  • Stories: 2
  • Entry Location: 1
  • Common Walls: No Common Walls
  • Appliances: Yes
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 1046.75

Exterior Features

  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 2.00
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Carport, Garage Faces Rear
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Cooktop, Water Heater
  • Electric: Standard
  • Heating Type: Central
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Rectangular Lot
  • Lot Size Sq Ft: 2566.00
  • Lot Size Acres: 0.0589

Multi Family

  • Gross Income: 76800.00
  • Lot Size Area: 2566.0000 Square Feet
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Rent Control: No
  • Waterfront Features: Across the Road from Lake/Ocean, Beach Access, Ocean Access

Tax Info

  • Tax Block: 7
  • Tax Census Tract: 636.03
  • Tax Lot: 9
  • Tax Tract Number: 709
  • TaxOtherAnnualAssessmentAmount: 528.00

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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
06/26/2025 06/26/25 Price Changed $2,850,000 -0.7% $1,448 / Sq Ft
06/21/2025 06/21/25 Price Changed $2,869,000 -0.3% $1,458 / Sq Ft
05/07/2025 05/07/25 Price Changed $2,879,000 -2.4% $1,463 / Sq Ft
03/21/2025 03/21/25 For Sale $2,950,000 +43.2% $1,499 / Sq Ft
10/24/2024 10/24/24 Sold $2,060,000 -10.4% $1,047 / Sq Ft
10/23/2024 10/23/24 Price Changed $2,299,000 0.0% $1,168 / Sq Ft
07/08/2024 07/08/24 Pending -- -- --
06/21/2024 06/21/24 Price Changed $2,299,000 -8.0% $1,168 / Sq Ft
05/28/2024 05/28/24 For Sale $2,499,000 -- $1,270 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP24103569

California Regional Multiple Listing Service (CRMLS)

APN: 424-434-01