1402 W Oceanfront

Newport Beach, CA 92661 View Map $5,900,000 Ask a Question
Beds4
Baths2
Sq.Ft.2,400
Year1945
1402 W Oceanfront Newport Beach, CA 92661 | MLS NP24093413 Photo 1
1402 W Oceanfront Newport Beach, CA 92661 | MLS NP24093413 Map
Brad Korb

Brad Korb

(818) 953-5300

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Status: Sold
Property Type:Duplex
MLS #:NP24093413
Sq. Feet:2,400
Date Sold:6/13/2024
Lot Size:3,049 Sq. Ft.
County:Orange
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.

ABOUT 1402 W Oceanfront, Newport Beach, CA 92661 - MLS NP24093413

This property is located at 1402 W Oceanfront in the Balboa Peninsula (Residential) (Balp) neighborhood of Newport Beach in Orange County, with a current listing price of $5,900,000. This 2400 square foot duplex for sale has 4 bedrooms, 2 baths, and is situated on 0.07 acres of land.

For additional information about 1402 W Oceanfront, see more details below as entered by the listing brokerage, including property taxes, year built, assigned schools, type of construction, exterior and interior features, locations, views, and any neighborhood amenities in Balboa Peninsula (Residential) (Balp).

Call The Brad Korb Real Estate Group or use our contact form to get into your Newport Beach area dream home today! Our local agents are experts in the Newport Beach real estate market and are committed to providing outstanding service. To tour MLS #NP24093413 today, connect with an agent at (818) 953-5300.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
6/14/2024$5,995,000$5,900,000-1.6%

Community Information

Address:1402 W Oceanfront, Newport Beach, CA 92661
Area:NP - Balboa Peninsula
County:Orange
School System:Newport Mesa Unified
Zip Code:92661

Architecture

Bedrooms: 4
Bathrooms: 2
Year Built:1945
Stories:2
Style:Duplex
Total Units: 2
Stories Total: 2
Garage Spaces: 1.0

Features / Amenities

Interior Features: Bedroom on Main Level
Appliances: 6 Burner Stove, Dryer, Washer
Laundry: Laundry Room
Room Type: Bedroom, Kitchen, LivingRoom
Accessibility Features: Safe Emergency Egress from Home, Parking
Entry Level: 1
Entry Location: Street and/or Alley
Common Walls: No Common Walls
Parking Features: Concrete, Garage, Garage Faces Rear
Parking Total: 1.0

Rooms

Features
Kitchen
BathroomSeparateShower
Living Room
BedroomBedroomonMainLevel

Property Features

Lot Size: 0.07 Acres / 3,049 Sq. Ft.
Lot Features: Yard
View: Ocean, Pier, Water
Sewer: Public Sewer
Water: Public
Directions:South on Balboa. Turn left on 14th St. Home will be on the Boardwalk 2 properties in from 14th.

Tax and Financial Info

Buyer Financing: Cash
Contingency: Seller requests all offers to be as-is, where is. Seller intends to do no repairs.
Terms: Cash, CashtoNewLoan, Conventional
Land Lease: No

Listing Agent/Office

Agent:Joshua Coburn
Office:Chamberlain Real Estate
Broker Phone:562-552-1127

Schools

WALKING AND TRANSPORTATION

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Based on information from California Regional Multiple Listing Service, Inc. as of July 23, 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, 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. IDX provided by Sierra Interactive.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.