Active Under Contract
1628 W Oceanfront
Newport Beach CA, 92663
$12,995,000
$2,536.60 per sqft
Active Under Contract
5,123 sqft
Multi-family
Built in 1931
Listed by Tara McNabb with Compass 949-438-4340
Unique 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.
OC24086150
MLSⓇ ID
April 30, 2024
Listed
May 9, 2024
Updated
Map
1628 W Oceanfront
Newport Beach CA, 92663
Interior Features
Total Stories
2
Interior Features
Furnished, Main Level Primary
Appliances
Refrigerator
Laundry Description
Common Area
Fireplace
Yes
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.08 Acres
Lot Features
Corner Lot
Architectual Style
Contemporary, Modern, Spanish
Sewer
Public Sewer
Other Property Details
Area Name
NP - Balboa Peninsula
Days on Market
5
Garage
Yes
Garage Spaces
4
Parking Total
4
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Waterfront
Yes
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
5/6/2024 | Under Contract | — |
Listing Contact: 949-438-4340
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/9/2024 at 3:41 PM UTC