$2,400,000
$2,399,000
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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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Bought with Brandon Hobbs • Reason Real Estate
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