Newport Beach, CA 92663,1628 W Oceanfront
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Newport Beach, CA 92663,1628 W Oceanfront
Newport Beach, CA 92663,1628 W Oceanfront
Newport Beach, CA 92663,1628 W Oceanfront
Newport Beach, CA 92663,1628 W Oceanfront

$12,150,000

Est. payment /mo

$12,995,000

6.5%
Est.Price: ?

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1628 W Oceanfront Newport Beach, CA 92663

13 Beds

11 Baths

5,123 SqFt

SOLD DATE : 06/14/2024

Key Details

Sold Price $12,150,000

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Sold

Purchase Type For Sale

Square Footage 5,123 sqft

Price per Sqft $2,371

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID OC24086243

Sold Date 06/14/24

Bedrooms 13

Full Baths 11

HOA Y/N No

Year Built 1931

Lot Size 3,484 Sqft

Property Description

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.

Location

State CA

County Orange

Area Np - Balboa Peninsula

Rooms

Main Level Bedrooms 5

Interior

Cooling None

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Sidewalks

Waterfront Description Beach Access,Beach Front,Ocean Front

View Y/N Yes

View Catalina, Coastline, Ocean

Attached Garage Yes

Total Parking Spaces 4

Private Pool No

Building

Lot Description Corner Lot, Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Schools

School District Newport Mesa Unified

Others

Senior Community No

Tax ID 04720228

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Tara McNabb • Compass • taralmcnabb@icloud.com
Bought with Tara McNabb • Compass
agent

Gwyn Goodman

Broker | License ID: 00779815

+1(805) 443-5650

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