• 506 E Oceanfront Newport Beach, CA 92661

  • $5,995,000
  • 7
    Bed(s)
  • 5.5
    Baths
  • 3,044
    Sq Ft
  • 2614
    Sqft
  • Listed By: David Holstein, The Holstein Group, DRE #01210777
  • Source: CRMLS

$500,000 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!

Property Type :

Residential Income

Subdivision :

Fallbrook

County :

Orange

Style :

Residential Income

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Unit No Unit Key Total Bath Total Bed Full Bath Half Bath
1 1062041568 3 4 3 0
2 1062041568 3 3 2 1

Property Details

  • 05/22 3 PM-4:30 PM
 

Water/Sewer

Water Source : Public

Sewer : Public Sewer

Interior Features

Property Appliances: Dryer,Washer

Building Information

Year Built: 1973

Building Area Total: 3,044

Pool Features

None

Lot Details

Lot Dimensions Source: Vendor Enhanced

Lot Size Acres: 0.06

Lot Size Source: Assessor

Lot Size Square Feet: 2614

Listing Price Information

Original List Price: 5,995,000

Listing Contract Date: 2024-03-05

Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 04812210

Garage and Parking

Homeowners Association

Rental Info

Lease Term: Negotiable

Other Property Info

Source Listing Status: Active

Source Neighborhood: NP - Balboa Peninsula

Postal Code Plus 4: 0216

Directions: Balboa Blvd to Oceanfront

Source Property Type: Residential Income

Area: NP - Balboa Peninsula

Property SubType: Duplex

Building and Construction

Property Age: 51

Common Walls: 2+ Common Walls

Structure Type: Duplex

Year Built Source: Assessor

Entry Level: 1

Entry Location: side

Property Attached: Yes

Levels or Stories: Two

Building Total Stories: 2

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1119 E Balboa Boulevard.., Newport Beach, CA,92661 $22,500 4 1 1,800 --
1740 E Ocean Boulevard, Newport Beach, CA,92661 $7,800,000 5 5 3,024 2625 Sqft
1577 Miramar Drive, Newport Beach, CA,92661 $4,850,000 4 4 2,558 2450 Sqft
423 E Edgewater Avenue, Newport Beach, CA,92661 $6,695,000 3 3 2,289 3124 Sqft
311 Montero Street, Newport Beach, CA,92661 $2,749,000 3 2 1,339 2100 Sqft
1220 W Bay Avenue, Newport Beach, CA,92661 $68,000,000 6 7 12,749 7132 Sqft
1003 E Balboa Boulevard, Newport Beach, CA,92661 $7,999,000 8 3 3,570 3920 Sqft
200 E Balboa Boulevard, Newport Beach, CA,92661 $6,495,000 4 4 3,029 2400 Sqft
326 L Street, Newport Beach, CA,92661 $3,997,000 3 2 1,420 1400 Sqft
441 Seville, Newport Beach, CA,92661 $6,799,000 5 6 3,863 2800 Sqft

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ByOwner last updated this listing 05/22/2024 @ 13:16

MLS: SB24045420
LISTED BY: David Holstein, The Holstein Group
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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