Newport Beach, CA 92663,505 38th ST
Newport Beach, CA 92663,505 38th ST
Newport Beach, CA 92663,505 38th ST
Newport Beach, CA 92663,505 38th ST
Newport Beach, CA 92663,505 38th ST
Newport Beach, CA 92663,505 38th ST
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$2,400,000

$2,399,000

Est.Price: ?

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Est. payment /mo

2,822 Sqft Lot


SOLD DATE : 04/26/2023

Key Details

Sold Price $2,400,000

Property Type Multi-Family

Sub Type Duplex

Listing Status Sold

Purchase Type For Sale

Subdivision Newport Island (Newi)

MLS Listing ID NP23022962

Sold Date 04/26/23

HOA Y/N No

Year Built 1940

Lot Size 2,822 Sqft

Property Description

Opportunities abound with this charming bungalow-style Duplex on Newport Island. This is a great opportunity for an owner-user to live in this amazing neighborhood while, at the same time, generating monthly income. These units would make for fabulous long-term rentals as tenant demand is very strong on the island due to the location and the uniqueness of the neighborhood.

Also, this could be a phenomenal opportunity for someone who would like to start fresh and build their dream home in one of Newport Beach’s most coveted neighborhoods. The new construction possibilities include a single-family residence with an ADU, a duplex or possibly even two condos. Per the city, total allowable build up to 3,840 sq. ft. including garages.

Both units have two bedrooms and one bathroom and they share a two car garage and a laundry. The charming front unit is on the ground level with no steps and move-in ready. Tenants enjoy a sizable front patio for outdoor dining & relaxing, a quaint living space with wood-like floors, wainscotting, a dining room and an updated kitchen. The back unit, which is located over the garage, is just as charming with a lanai, perfect for morning coffee, a Dutch door and ample living space.

Situated on one of the eight islands in Newport Harbor, this neighborhood is about as special as you can get. Residents enjoy a gorgeous waterfront park equipped with a playground, a half basketball court, grill area and a baby beach that overlooks the channel. On any given day, you will find islanders launching paddle boards and kayaks from the baby beach as well as from various inlets around the neighborhood. Some residents lease moorings from the City of Newport Beach, which are located around the island. It’s a quick walk across the bridge and down two blocks to the locals’ favorite beach and surf spot. This is a community that enjoys getting together. Residents gather for parties in the park, for just about every major holiday and several times throughout the summer. Newport Island looks and feels very much like a private community but, in fact, it’s not. There are no monthly HOA dues.

In addition to the island, enjoy all that Newport Beach has to offer. Walk to several other nearby parks or bike to the Newport Beach Pier, Marina Park and The Balboa Fun Zone. Stroll the Peninsula and Lido Village for all of the fabulous shopping and dining establishments.

Location

State CA

County Orange

Area N8 - West Newport - Lido

Interior

Interior Features Paneling/Wainscoting, Unfurnished, Main Level Primary

Heating Wall Furnace

Cooling None

Fireplace No

Appliance Gas Oven, Gas Range, Dryer, Washer

Laundry Common Area

Exterior

Parking Features Door-Multi, Garage

Garage Spaces 2.0

Garage Description 2.0

Fence Vinyl

Pool None

Community Features Street Lights, Sidewalks, Park

Roof Type Composition

Accessibility No Stairs

Total Parking Spaces 2

Private Pool No

Building

Lot Description Near Park, Rectangular Lot

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Bungalow

New Construction No

Others

Senior Community No

Tax ID 42306404

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Trust

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California Regional MLS (CRMLS)
Listed by Jennifer Stock • Compass • 949-290-0227
Bought with Brandon Hobbs • Reason Real Estate
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