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. Fash
MLS #
CROC24086243
MLS Source
California Regional MLS
Buyer's Brokerage Compensation*
2.50%
Fireplace
None
Laundry
Laundry Area
Cooling
None
Pool
None
Garage/Parking
Assigned Spaces, Garage: 4 Car(s)
Elementary District
Newport-Mesa Unified
High School District
Newport-Mesa Unified
HOA Fee
$0
1628 W Oceanfront is a Single Family Residence in Newport Beach, CA 92663. This 5,123 square foot property sits on a 3,485 Sq Ft Lot and features 13 bedrooms & 11 full bathrooms. It is currently priced at $12,995,000 and was built in 1931.
This address can also be written as 1628 W Oceanfront, Newport Beach, CA 92663.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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This listing information is up-to-date as of May 06, 2024. For the most current information, please contact Tara McNabb, (949) 500-3910