1504 W Oceanfront Unit 5, Newport Beach, CA 92663
- $29,950,000
- List Price
- $29,950,000
- Status
- ACTIVE
- MLS#
- NP25025311
- Year Built
- 1962
- Lot Size
- 5,000
- Acres
- 0.11
- Lot Location
- 0-1 Unit/Acre, Corner Lot
- Days on Market
- 185
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Multi Level
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property Description
Experience luxury beach front living and investment potential with 1504 W Oceanfront, a one-of-a-kind mixed-use property in Newport Beach on the Balboa Peninsula. This premier property spans approximately 7,609 square feet on a 5,000-square-foot corner lot with 100 feet of ocean frontage and breathtaking panoramic views from Newport Pier to Balboa Pier and beyond. Three residential units with three short-term lodging permits and two commercial spaces, this exceptional five-unit offering blends coastal charm with modern luxury. The commercial spaces include the iconic “15th Street Surf Shop” retail store and an oceanfront restaurant currently under renovation, formerly known as “The Stuft Surfer”. The three separate residential units consist of a three bedroom residence, a newly built two bedroom residence with an office/bonus room, in addition to a newly constructed one bedroom unit. All three units hold short-term rental permits (SLPs), a rare and valuable asset in Newport Beach. This property is primed for exceptional income generation, with pro forma projections estimating $920,608 in annual gross revenue combined from short-term rentals and commercial leasing. A standout feature of this estate is its expansive 50x50-foot rooftop deck, one of the largest oceanfront decks on the Balboa Peninsula, offering unparalleled ocean and bay views with endless opportunities for entertainment and relaxation. 1504 W Oceanfront is not just a five-in-one compound; it’s a legacy property that delivers both immediate value and long-term returns in the highly coveted Newport Beach market.
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Additional Information
- Pool Description
- None
- Fireplace Description
- Living Room, Primary Bedroom
- Cooling
- Yes
- Cooling Description
- Central Air, Dual, Zoned
- View
- Bay, City Lights, Coastline, Courtyard, Marina, Ocean, Panoramic, Pier
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Beamed Ceilings, Built-in Features, Balcony, Cathedral Ceiling(s), Multiple Staircases, Bar, Bedroom on Main Level
- Attached Structure
- Attached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $920,608
- Operating Expense
- 170152
Listing courtesy of Listing Agent: Amelie Mason (amelie@nicolaiglazer.com) from Listing Office: Pacific Sotheby's Int'l Realty.
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