1402 W Oceanfront Newport Beach, CA 92661
An Oceanfront Investment Gem: Your Canvas Awaits Elevate your investment portfolio with this truly rare opportunity on the sands of Newport Beach's Balboa Peninsula. This West Oceanfront Duplex is set on the deepest lot on the Peninsula, measuring 30’ x 102.5’, providing immediate utilization with ample future development opportunity. Preliminary plans have been explored for expansion up to a generous 4, 000 square feet of living space, allowing you to craft a spectacular oceanfront owner's unit with an INTERNAL ADU. Alternatively, the new owner can execute redevelopment into a 2-unit rental powerhouse, with a 4-bedroom and 3-bedroom stacked short-term rental, potentially generating over $500, 000 in gross revenues per year. Perfect for investors seeking to capitalize on the allure of Newport Beach's vibrant rental market, this property boasts not one, but TWO highly coveted, transferable, active short-term-rental permits approved with the city. Buyer to verify all details for their intents and purposes. In the property’s immediate condition, it offers a charming retreat featuring one bedroom, one bathroom, and an inviting open-concept layout in the front. Additionally, there is a two-level 'original condition' residence at the rear of the lot, which includes a 2-bedroom suite and deck above, as well as a 1-car parking garage below. Beyond the boundaries of your property lies a world of recreation and relaxation, with beach volleyball courts, surf shops, markets, and marinas just steps away. On 15th Street, just a few minutes' walk up the boardwalk, one can find 15th Street Surf Shop, Fry’s Market for basic groceries, and Marina Park for strolling the greenery. Indulge in the coastal lifestyle at Newport Beach Pier’s boutiques and award-winning eateries, all beckoning for exploration. But the real magic lies in the potential of this property. With plenty of room to renovate and expand, the possibilities are as vast as the ocean itself. Seize the moment and make your mark on Newport Beach's prestigious and limited shoreline. With opportunities like this, the time to invest in your future is now.
- Property TypeMulti-Family
- NeighborhoodBalboa Peninsula (Residential) (Balp)
- CountyOrange
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site14 Days
- MLS StatusActive
- MLS ID NumberNP24093413
- Home Size Source Assessor
- Year Built1945
- Lot Size0.07 Acres
- Full Baths2
- Partial BathsN/A
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General Features
- Parking ConcreteGarageGarage Faces Rear
- Parking Spaces 1
- Sewer Public Sewer
- Number of Stories 22
- Acreage 0.07
- Water Public
- Property Sub Type Duplex
- Garage Spaces 1
- Attached Garage Yes
- Listing Conditions Standard
Interior Features
- Cooling None
- Appliances 6 Burner Stove
- Fireplace Features None
- Laundry Features Dryer IncludedIndividual RoomWasher Included
- Fireplace No
Exterior Features
- View OceanPierWater
- Pool Features None
- Lot Yard
Community Features
- Association Dues 0
- Community Features BikingCurbsParkWatersports
- Senior Community No
- MLS Area NP - Balboa Peninsula