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    2202 W Oceanfront

    Newport Beach, CA 92663
    • $4,495,000
    • STATUS: Active
    • ON SITE: 224 days
    • ID#: NP20182603
    UPDATED: 55 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 Newports 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 2021-04-17T07:28:19.313. 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 Realty Masters & Associates. Licensed in the State of California, USA.
    www.mckeeregroup.com/homes/109707439
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    2202 W Oceanfront Newport Beach, CA 92663

    • Price: $4,495,000
    • Status: Active
    • Updated: 55 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 Newports cultural attractions, the income potential for this performing asset reveal a sound investment.
    Exterior Features

    Exterior Features Barbecue Lot Features Landscaped Number Of Separate Electric Meters 4 Open Parking Spaces 0 Parking Features Garage Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No View CatalinaCoastlineOceanWater View YN Yes Waterfront Features Across The Road From Lake/Ocean

    Interior Features

    Appliances DishwasherFreezerGas CooktopGas RangeMicrowaveRefrigeratorRange Hood Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Door Features Mirrored Closet Door(S)Sliding Doors Fireplace Features Living Room Fireplace YN Yes Flooring CarpetTileVinylWood Interior Features BalconyHigh CeilingsBedroom On Main Level Window Features BlindsDouble Pane Windows

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features CurbsFishingStreet LightsSidewalks Electric Expense 1250 Fuel Expense 350 Garage YN Yes Gross Income 149400 Gross Scheduled Income 149400 Inclusions Select Furnishings in Upper Units Insurance Expense 2800 Land Lease YN No Laundry Features InsideLaundry ClosetIn GarageStacked Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 88522 New Construction YN No New Taxes Expense 40000 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 60878 Other Expense 4707 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 1100 Water Source Public

    Listing provided courtesy of Tim Smith of Coldwell Banker Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-17T07:28:19.313. 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 Realty Masters & Associates. Licensed in the State of California, USA.
     
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