1628 W Oceanfront Newport Beach, CA 92663
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.
- Property TypeMulti-Family
- NeighborhoodBalboa Peninsula (Commercial) (Bpcd)
- CountyOrange
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site32 Days
- MLS StatusActive Under Contract
- MLS ID NumberOC24086150
- Home Size Source N/A
- Year Built1931
- Lot Size0.08 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style ContemporaryModernSpanish
- Parking Spaces 4
- Sewer Public Sewer
- Number of Stories 22
- Acreage 0.08
- Water Public
- Garage Spaces 4
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating Central
- Appliances Refrigerator
- Interior Furnished
- Fireplace Features None
- Laundry Features Common Area
- Fireplace No
Exterior Features
- Pool Features None
- Waterfront Property No
- Waterfront Features Beach AccessBeach FrontOcean AccessOcean Front
- Lot Corner Lot
Community Features
- Association Dues 0
- Community Features CurbsSidewalks
- Senior Community No
- MLS Area NP - Balboa Peninsula