700 E Oceanfront Newport Beach, CA 92661
Balboa Peninsula Point NeighborhoodEstimated payment $39,252/month
Highlights
- Ocean View
- Property has ocean access
- Primary Bedroom Suite
- Newport Elementary School Rated A
- Fishing
- 2-minute walk to Balboa Peninsula Park
About This Home
Fabulous remodeled oceanfront getaway, turnkey vacation rental business or BOTH? The choice is yours at 700 E Oceanfront The property presents a fantastic opportunity to own an updated duplex in the heart of the Balboa Peninsula. LOCATION LOCATION LOCATION, this property is near all of the attractions that you and/or your vacation rental guests desire. Steps away from the sand and ocean, the property is located on the boardwalk and walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. The corner location affords unparalleled sunlight and those cooling ocean breezes. The lower 1 bed/1 bath unit is newly remodeled and has its own indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with quartz composite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is well-designed and newly remodeled throughout, including kitchen (w/ island and wine fridge) and entertaining space, as well as 3 generous bedrooms (the Primary has its own kitchenette) and 2 bathrooms. The living/great room features breathtaking views of the ocean and Balboa Pier. The duplex has been professionally managed and meticulously maintained. Notable features include: Air conditioning (new in 2023), new roof, double-paned windows and functional and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. This oceanfront duplex offers a proven track record and excellent reviews from former guests. Incredible income potential with 2 Short Term Lodging permits in place. Act quickly! With only 1550 Short Term Lodging Permits available in the entire city, having a property with TWO on Oceanfront is truly a rare opportunity.
Listing Agent
Pacific Sotheby's Int'l Realty Brokerage Phone: 949-632-2269 License #01506188 Listed on: 02/09/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1973
Lot Details
- 2,614 Sq Ft Lot
- No Common Walls
- Corner Lot
Parking
- 4 Car Garage
- Parking Available
- Rear-Facing Garage
- Tandem Garage
Home Design
- Duplex
- Entry on the 1st floor
- Turnkey
- Slab Foundation
- Stucco
Interior Spaces
- 2,310 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Wet Bar
- Double Pane Windows
- Great Room
- Family Room
- Living Room with Attached Deck
- Living Room Balcony
- Ocean Views
- Fire and Smoke Detector
- Laundry Room
Kitchen
- Gas Range
- Microwave
- Dishwasher
- Quartz Countertops
- Disposal
Flooring
- Carpet
- Tile
Bedrooms and Bathrooms
- 4 Bedrooms
- Primary Bedroom Suite
- 3 Bathrooms
Outdoor Features
- Property has ocean access
- Beach Access
- Exterior Lighting
- Outdoor Grill
- Rain Gutters
Location
- Property is near public transit
Utilities
- Central Heating and Cooling System
- Radiant Heating System
- Natural Gas Connected
- Gas Water Heater
- Cable TV Available
Listing and Financial Details
- Legal Lot and Block 9 / 10
- Tax Tract Number 104
- Assessor Parcel Number 04813512
- $27 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Units
- Balboa Peninsula Subdivision
Recreation
- Fishing
- Park
- Water Sports
- Hiking Trails
- Bike Trail
Building Details
- Rent Control
- 2 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Insurance Expense $3,000
- Water Sewer Expense $1,800
- Operating Expense $53,100
- Gross Income $240,000
- Net Operating Income $168,000
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 |
|---|---|---|---|---|
| 2025 | $51,591 | $4,998,471 | $4,998,471 | -- |
| 2024 | $51,591 | $4,900,462 | $4,900,462 | -- |
| 2023 | $52,317 | $5,000,000 | $4,864,150 | $135,850 |
| 2022 | $32,217 | $3,014,409 | $2,885,589 | $128,820 |
| 2021 | $31,600 | $2,955,303 | $2,829,008 | $126,295 |
| 2020 | $32,372 | $3,027,079 | $2,870,592 | $156,487 |
| 2019 | $31,701 | $2,967,725 | $2,814,306 | $153,419 |
| 2018 | $31,070 | $2,909,535 | $2,759,124 | $150,411 |
| 2017 | $30,521 | $2,852,486 | $2,705,024 | $147,462 |
| 2016 | $29,835 | $2,796,555 | $2,651,984 | $144,571 |
| 2015 | $29,554 | $2,754,549 | $2,612,149 | $142,400 |
| 2014 | $28,858 | $2,700,592 | $2,560,981 | $139,611 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/19/2026 03/19/26 | Price Changed | $6,490,000 | -5.8% | $2,810 / Sq Ft | |
| 02/09/2026 02/09/26 | For Sale | $6,890,000 | +37.8% | $2,983 / Sq Ft | |
| 11/17/2022 11/17/22 | Sold | $5,000,000 | -5.7% | $2,165 / Sq Ft | View Prior Sale |
| 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)
MLS Number: OC26025417
APN: 048-135-12
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