NOT LISTED FOR SALE

700 E Oceanfront Newport Beach, CA 92661

Balboa Peninsula Point Neighborhood
4 Beds
3 Baths
2,310 Sq Ft
2,614 Sq Ft Lot

Last Sold November 17, 2022

Last sale price $5,000,000 $2,165 Per Sq Ft

98 Days on Market

Highlights

  • White Water Ocean Views
  • Beach Access
  • Corner Lot
  • Newport Elementary School Rated A
  • Fireplace in Primary Bedroom
  • 2-minute walk to Balboa Peninsula Park

About This Home

As of November 2022

700 E Oceanfront presents a fantastic opportunity to own a duplex in the heart of the Balboa Peninsula. All about the location, this property is near all the desirable attractions the area has to offer. Steps away from the sand and ocean, 700 E Oceanfront is sited along the boardwalk and the Peninsula’s famous bike path. Walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. Featuring two units, this property offers incredible income potential. The lower unit features a bedroom and a bathroom, along with indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with granite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is smartly divided into two separate sections and encompasses a total of three bedrooms and two bathrooms. The front portion features two of the bedrooms as well as a full bath. Smartly upgraded kitchen and a living area offer ample entertaining space. The large front bedroom features a fireplace and breathtaking views of the ocean and Balboa Pier. The back section of the upstairs features bedroom, a bath and a kitchenette as well as living and dining areas. 700 E Oceanfront is a meticulously maintained property, with air conditioning, double-paned windows and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. Incredible income potential with short term rental permits in place.

Last Agent to Sell the Property

Tim Carr

Pacific Sotheby's Int'l Realty License #01017277 Listed on: 07/05/2022

Last Buyer's Agent

Dominic Tucci

Pacific Sotheby's Int'l Realty License #01506188

Pacific Sotheby's Int'l Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1973 | Remodeled

Lot Details

  • 2,614 Sq Ft Lot
  • No Common Walls
  • Corner Lot

Parking

  • 4 Car Garage
  • 1 Open Parking Space
  • Parking Available
  • Rear-Facing Garage
  • Garage Door Opener

Home Design

  • Duplex

Interior Spaces

  • 2,310 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows
  • White Water Ocean Views
  • Gas Range

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Fireplace in Primary Bedroom
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Beach Access
  • Exterior Lighting

Utilities

  • Central Heating and Cooling System
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 9 / 10
  • Tax Tract Number 104
  • Assessor Parcel Number 04813512
  • $507 per year additional tax assessments

Community Details

Overview

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

Recreation

  • Park
  • Bike Trail

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,000
  • Maintenance Expense $300
  • Gross Income $248,134

Property Details

Home Type

Multi-Family

Year Built

Built in 1973 | Remodeled

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Balboa Peninsula (Residential) (BALP)
  • View: Yes
  • Zoning: RSC-R
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 04813512
  • Year Built: 1973
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Carpet, Vinyl
  • Appliances: Yes
  • Fireplace Features: Master Bedroom
  • Levels: Two
  • Price Per Square Foot: 2164.50
  • Window Features: Double Pane Windows

Exterior Features

  • View: Ocean, White Water
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Garage, Garage Faces Rear, Garage Door Opener
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 1.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Central
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 2614.00
  • Lot Size Acres: 0.0600

Rental Info

  • Tenant Pays: None

Multi Family

  • Gross Income: 248134.00
  • Gross Operating Income: 248135.00
  • Gross Scheduled Income: 248134.00
  • Insurance Expense: 2000.00
  • Lot Size Area: 2614.0000 Square Feet
  • Maintenance Expense: 300.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Carpet: 2
  • Number With Dishwasher: 2
  • Number With Drapes: 2
  • Number With Patio: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Rent Control: No
  • Waterfront Features: Beach Access

Tax Info

  • Tax Block: 10
  • Tax Census Tract: 628.00
  • Tax Lot: 9
  • Tax Tract Number: 104
  • TaxOtherAnnualAssessmentAmount: 507.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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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 List to Sale Price per Sq Ft Prior Sale
11/17/2022 11/17/22 Sold $5,000,000 -5.7% $2,165 / Sq Ft
07/05/2022 07/05/22 For Sale $5,300,000 +81.2% $2,294 / Sq Ft
06/02/2020 06/02/20 Sold $2,925,000 -2.5% $1,266 / Sq Ft View Prior Sale
03/24/2020 03/24/20 Pending -- -- --
02/28/2020 02/28/20 For Sale $2,999,000 -- $1,298 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tim Carr

    Seller's Agent in 2022

    Tim Carr

    Pacific Sotheby's Int'l Realty

    (949) 230-8454

    3 in this area

    150 Total Sales

    Tim Carr
    Section Image
  • Dominic Tucci

    Buyer's Agent in 2022

    Dominic Tucci

    Pacific Sothebys

    (949) 632-2269

    1 in this area

    29 Total Sales

    Dominic Tucci
    Section Image

  • A

    Seller's Agent in 2020

    Aaron Batley

    Balboa Realty

    (949) 412-9055

    3 Total Sales

    Aaron Batley
    Section Image
  • Artie Dorr

    Seller Co-Listing Agent in 2020

    Artie Dorr

    Balboa Realty

    (949) 500-9832

    2 in this area

    31 Total Sales

    Artie Dorr
    Section Image
  • Chris Wen

    Buyer's Agent in 2020

    Chris Wen

    Walton Realty Inc.

    (626) 854-2888

    18 Total Sales

    Chris Wen
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP22145462

California Regional Multiple Listing Service (CRMLS)

APN: 048-135-12

California Orange County Newport Beach 92661 Balboa Peninsula Point

700 E Oceanfront, Newport Beach, CA

Not Listed for Sale

MultiFamily

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