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1628 W Oceanfront
Newport Beach, CA 92663

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Property Details


List Price: $12,995,000
Beds: 13
Baths: 11
Status: Pending
SqFt: 5123
Agency: Compass

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Description/Comments


Lot Size: 3,485 sqft
Property Type: Residential
Year Built: 1931
Notes: 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.
MlsNumber: OC24086243


Listing Provided By: Compass, original listing
Name: Compass
Phone: (949) 438-4340
Office Name: Compass
Office Phone: (949) 438-4340
Agent Name: Tara McNabb
Disclaimer: Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


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