Vacation Rental Newport Beach Sand
2 Unit Apartment Building | $5,995,000 ($2,997,500/Unit) | 2.25% Cap Rate | Newport Beach, CA 92661
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,995,000
- Property Type
-
Multifamily
- Square Feet
- 3,044 SF
Listing Contacts
David Holstein
Verified Profile
- Property Info
Property Overview
$500k Price Improvement!! Bring All Reasonable Offers!!!
Once in a lifetime opportunity! For the 1st time in over 35 years, 506 E. Oceanfront is NOW available to add to your investment portfolio as an investment asset or, utilize it for your future primary residence (or both as its zoned as a Duplex).
These assets customarily never hit the market and become generational properties! Don't Hesitate. Don't let this unique opportunity pass you by.
Located in the heart of the Balboa Peninsula! Wake up and choose the Bike Path in front, the volleyball courts, or enjoy the sand and Pacific Ocean - all just steps away.
If you choose to take a short stroll, you are immediately in the heart of all the action. Just steps to the pier, local restaurants, and plenty of parking for your guests as the city parking facilities are also just steps away. Not too many places along the California Coastline could offer this much opportunity.
Current unit mix (Unit A) is a Three Bedroom Two Bath unit - potentially set up to sleep 9 Guests, and Unit B as a 4 bedroom 2 1/2 Bath unit that is potentially set up to sleep 12 Guests... Imagine having 21 guests at your Beach Front Oasis!
Once in a lifetime opportunity! For the 1st time in over 35 years, 506 E. Oceanfront is NOW available to add to your investment portfolio as an investment asset or, utilize it for your future primary residence (or both as its zoned as a Duplex).
These assets customarily never hit the market and become generational properties! Don't Hesitate. Don't let this unique opportunity pass you by.
Located in the heart of the Balboa Peninsula! Wake up and choose the Bike Path in front, the volleyball courts, or enjoy the sand and Pacific Ocean - all just steps away.
If you choose to take a short stroll, you are immediately in the heart of all the action. Just steps to the pier, local restaurants, and plenty of parking for your guests as the city parking facilities are also just steps away. Not too many places along the California Coastline could offer this much opportunity.
Current unit mix (Unit A) is a Three Bedroom Two Bath unit - potentially set up to sleep 9 Guests, and Unit B as a 4 bedroom 2 1/2 Bath unit that is potentially set up to sleep 12 Guests... Imagine having 21 guests at your Beach Front Oasis!
Property Details
- Year Built
- 1973
- Stories
- 3
- Lot Size (sq. ft)
- 2,178 SF
- Units
- 2
Highlights
- Vacation Rental Property on the sand located on the most prestigious beach in Southern California
- Generational Type Asset that does not come on the market often. Done miss out!
- Parking facilities nearby, Beach Front Volleyball Courts steps away, steps to the Pier & Ferry... Great Location!
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