$3,300,000
●
House -
Off Market
1402 W Oceanfront
Newport Beach, CA 92661
4 Beds
2 Baths
2,400 Ft²
$5,317,295
RealtyHop Estimate
52.14%
Since Jan 1, 2019
National-US
Primary Model
About This Property
This Balboa Peninsula original condition oceanfront duplex is a
prime redevelopment opportunity. Located on a 30' x 102.5' lot, the
deepest on the Peninsula, the sandfront property features
spectacular ocean, whitewater, coastline, and Catalina Island
views. All the fun of Newport Beach living is out your front door:
surfing, swimming, beach-combing, stand-up paddle boarding, bicycle
riding, running or roller blading on the boardwalk, sunset
watching, strolling the sand, beach volleyball, sailing on the bay
or enjoying the world famous Fun Zone, nightlife, and fine dining
of the Newport and Balboa piers. Build the home, duplex or two
condominiums of your dreams. Trustees Sale.
Unit Size
2,400 Ft²
Days on Market
74 days
Land Size
0.07 acres
Price per sqft
$1,456
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1945
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 4 months ago (CRMLS #LG18244195)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 1, 2024 | No longer available | - | |
| No longer available | |||
| Nov 10, 2023 | No longer available | - | |
| No longer available | |||
| Nov 9, 2023 | Listed by Compass | $5,995,000 | |
| Listed by Compass | |||
| | |||
|
Complete with two highly coveted active short-term-rental permits from the city of Newport Beach, this oceanfront property is located right at the sand on the Balboa Peninsula. Spectacular beach views are enjoyed from the front home, which offers one bedroom and one bathroom in an open-concept single-story floorplan. Enjoy a gated front patio, ocean-view living room, a white dine-in kitchen, laundry porch, luxury vinyl plank flooring and crown molding. An additional two-level home at the back of the property features three bedrooms and two baths. Walk across the sand to beach volleyball courts, 15th street Surf Shop, Fry's Market or explore nearby Marina Park, the Fun Zone, Newport Beach’s famous pier, and the upscale shops and restaurants at Lido Marina Village. Surfing, golf, Fashion Island, movie theaters and more are all moments away. The manager has listed the unit size as 2400 square feet.
| |||
| Oct 18, 2023 | Relisted | $6,495,000 | |
| Relisted | |||
| Oct 14, 2023 | In contract | - | |
| In contract | |||
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Property Highlights
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With View
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Newport Beach
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Listed by: Steve High, Villa Real Estate
Last Updated: 4 months ago
Data Source: CRMLS, MLS# LG18244195
Last Updated: 4 months ago
Data Source: CRMLS, MLS# LG18244195
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