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    2202 W Oceanfront

    Newport Beach, CA 92663
    • $4,495,000
    • STATUS: Active
    • ON SITE: 50 days
    • ID#: NP20182603
    UPDATED: 68 min ago
    $4,495,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,400
      SQFT
    • $1,322
      $/SQFT
    Type:
    Multi-Family
    Built:
    1961
    County:

    School Ratings & Info

    Description

    Situated directly in front of Blackies surf break with views of the Newport Pier, crashing waves, and Catalina Island, this oceanfront quadruplex with garage parking for 4-cars presents a rare investment opportunity for stable, long-term income as well as short-term lodging income. Thoughtfully designed, the beautiful upper units, (1) 2BR/2BA and (1) 1BR/1BA, can be combined for a 3BR/2BA unit to accommodate larger groups and earn premium rates. Fit with quality stainless steel appliances, a marble fireplace, cherry-wood cabinets, teak flooring and voluminous ceilings, the ocean-facing upper unit is an attractive residence for a homeowner or luxury vacationers alike. A spacious sundeck with built-in barbecue and bar-top offers the coveted indoor-outdoor lifestyle and a private retreat to watch passerby, sunsets, and surfers challenging the waves. Each upper unit comes with in-unit laundry and has been recently refurnished (2020), painted, and permitted for short-term lodging, while the (2) 1BR/1BA lower units share laundry in the garage and showcase new vinyl flooring. Additional highlights include one new garage door and track as well as a gated courtyard entry. Given its highly desirable location and luxe accommodations at the center of Newport+GGs cultural attractions, the income potential for this performing asset reveal a sound investment.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-25T15:27:59.723. 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 deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Compass. Licensed in the State of California, USA.

    www.themarellygroup.com/homes/109707439
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    2202 W Oceanfront Newport Beach, CA 92663

    • Price: $4,495,000
    • Status: Active
    • Updated: 68 min ago
    • ID#: NP20182603
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    3,400
    SQFT
    $1,322
    $/SQFT
    1961
    Built
    Neighborhood:
    Balboa Peninsula (Residential) (Balp)
    County:
    Orange
    Area:
    NP - Balboa Peninsula
    Property Description
    Situated directly in front of Blackies surf break with views of the Newport Pier, crashing waves, and Catalina Island, this oceanfront quadruplex with garage parking for 4-cars presents a rare investment opportunity for stable, long-term income as well as short-term lodging income. Thoughtfully designed, the beautiful upper units, (1) 2BR/2BA and (1) 1BR/1BA, can be combined for a 3BR/2BA unit to accommodate larger groups and earn premium rates. Fit with quality stainless steel appliances, a marble fireplace, cherry-wood cabinets, teak flooring and voluminous ceilings, the ocean-facing upper unit is an attractive residence for a homeowner or luxury vacationers alike. A spacious sundeck with built-in barbecue and bar-top offers the coveted indoor-outdoor lifestyle and a private retreat to watch passerby, sunsets, and surfers challenging the waves. Each upper unit comes with in-unit laundry and has been recently refurnished (2020), painted, and permitted for short-term lodging, while the (2) 1BR/1BA lower units share laundry in the garage and showcase new vinyl flooring. Additional highlights include one new garage door and track as well as a gated courtyard entry. Given its highly desirable location and luxe accommodations at the center of Newport+GGs cultural attractions, the income potential for this performing asset reveal a sound investment.
    Exterior Features

    Exterior Features Barbecue Private Garage Spaces 4.00 Lot Features Landscaped Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage Parking Total 4.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No Uncovered Spaces 0.00 View CatalinaCoastlineOceanWaterWhite Water View YN Yes Waterfront Features Across The Road From Lake/Ocean

    Interior Features

    Appliances DishwasherFreezerGas RangeGas CooktopMicrowaveRange HoodRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Door Features Mirror Closet Door(S)Sliding Doors Fireplace Features Living Room Fireplace YN Yes Flooring CarpetTileVinylWood Interior Features BalconyHigh Ceilings Laundry Features In ClosetIn GarageInsideStackable Levels Two Room Type EntryKitchenLiving RoomMain Floor Bedroom Window Features BlindsDouble Pane Windows

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features CurbsFishingSidewalksStreet Lights Country Us Electric Expense 1250.00 Elevation Units Feet Fuel Expense 350.00 Gardener Expense 960.00 Gross Income 149400.00 Gross Scheduled Income 149400.00 Inclusions Select Furnishings in Upper Units Insurance Expense 2800.00 Land Lease YN No Laundry YN Yes Net Operating Income 88522.00 New Construction YN No New Taxes Expense 40000.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 4 Number Wall AC 1 Number With Dishwasher 4 Number With Disposal 4 Number With Range 4 Number With Refrigerator 4 Operating Expense 60878.00 Other Expense 4707.00 Other Expense Description Other Professional Management Expense 9711.00 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Balboa Peninsula (Residential) (Balp) Total Expenses 60878.00 Trash Expense 0.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 1100.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Tim Smith of Coldwell Banker Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-25T15:27:59.723. 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 deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Compass. Licensed in the State of California, USA.

     
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    The Marelly Group | Compass
    5256 South Mission Rd, Suite 1006
    Bonsall CA, 92003