204 44th Street, Newport Beach, California 92663, Newport Beach, 92663 - 6 bed, 6 bath

204 44th Street, Newport Beach, California 92663 home-pic-0
ACTIVE$6,299,000
204 44th Street, Newport Beach, California 92663
6Beds
6Baths
4,000Sqft
3,049Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Great Schools: Elementary School: Newport Elementary School (9/10).
Top Cons:
High Barrier to Entry: The substantial list price of $6.299 million, even after a price reduction, represents a significant capital investment, potentially limiting the pool of prospective buyers and requiring a strong financial position.

Compared to the nearby listings

Price:$6.30M vs avg $3.20M (+$3,099,000)88%
Size:4,000 sqft vs avg 2,440 sqft92%
Price/sqft:$1.6K vs avg $1.5K60%

More Insights

Built in 1983 (42 years old).
Condition: The property, built in 1983, has undergone extensive modern renovations, particularly evident in the kitchens and bathrooms. The kitchens feature white shaker cabinets, stainless steel appliances, and contemporary lighting, while bathrooms boast modern vanities, frameless glass showers, and updated fixtures. Flooring includes hardwood in living areas and clean carpeting in bedrooms. All visible components appear well-maintained and stylish, aligning with current trends. However, given the original build year of 1983, and the description's note about 'potential for updates' regarding underlying systems, it's unlikely to be a full 'within 5 years' renovation of all major systems (HVAC, electrical, plumbing infrastructure). Therefore, it fits the 'Good' category, indicating a move-in ready property with recent significant updates, but acknowledging the age of the underlying structure and systems which may not be brand new.
Year Built
1983
Close
-
List price
$6.3M
Original List price
$7M
Price/Sqft
$1,575
HOA
-
Days on market
-
Sold On
-
MLS number
OC24204441
Home ConditionGood
Features
Good View: Neighborhood
Deck
Patio
ViewNeighborhood

About this home

INVESTOR ALERT**TWO SIDE BY SIDE STAND-ALONE Modern Cape Cod homes with 2 Highly Coveted TRANSFERABLE SHORT TERM RENTAL PERMITS* The wait list on these permits are long. Currently there are over 600 applicants on the list and people have waited for years and may not even get one. We have TWO. There are some areas that are not zoned for short term rentals so if you own in those areas, you will not be able to get a permit. **Main House:** - **Size:** 2,700 sqft - **Layout:** 4 Bedrooms, 4 Bathrooms - **Highlights:** Spacious, open-concept living areas, gourmet kitchen, luxurious primary suite with a private beach view deck. The front house boasts a cool industrial roll-up glass door that opens up the home to your private front patio. **Second House:** - **Size:** 1,300 sqft - **Layout:** 2 Bedrooms + Loft, 2 Bathrooms - **Highlights:** Cozy yet modern design, additional living space ideal for guests or extended family, and a versatile loft area. **Additional Features:** - **Short-Term Rental Permits:** 2 Transferable STR permits. Waits for permits as long as 3 years. - **Parking:** 4-car garage - **Furnishing:** Both homes are fully furnished and move-in ready - **Turnkey Business:** Professionally managed with projected revenue of $275,000 annually - **Custom Local Art:** Walls adorned with unique local artwork included - **Outdoor Gear:** Paddle boards and surf gear included - **Artistic Flair:** Cool custom mural painted by a renowned local artist - **Prime Location:** Steps to the bay for launching your SUPs and just a block from Tower 44 Beach - **Outdoor Amenities:** Private outdoor shower between both homes - **Entertainment Space:** Entertainer's outdoor front patio lounge reminiscent of a beach club vibe in the Hamptons - **Unique Features:** A spiral staircase leads you to the third-floor upper-level bedroom suite with a private bathroom and access to the outdoor deck - **Private Entrances:** Homes have multiple private entrances - **Rental Flexibility:** The homes can be rented individually or as one home for large groups This property is more than just a home; it's a lucrative investment opportunity, professionally managed. An investor packet detailing the breakdown of revenue and expenses is available. Whether you're looking for a luxurious family residence, an income-generating property OR BOTH, 204 44th Street offers unparalleled potential and value.

Nearby schools

8/10
Newport Heights Elementary School
Public,K-61.3mi
9/10
Newport Elementary School
Public,PK-61.4mi
7/10
Horace Ensign Intermediate School
Public,7-81.3mi
7/10
Newport Harbor High School
Public,9-121.4mi
Condition Rating
Good

The property, built in 1983, has undergone extensive modern renovations, particularly evident in the kitchens and bathrooms. The kitchens feature white shaker cabinets, stainless steel appliances, and contemporary lighting, while bathrooms boast modern vanities, frameless glass showers, and updated fixtures. Flooring includes hardwood in living areas and clean carpeting in bedrooms. All visible components appear well-maintained and stylish, aligning with current trends. However, given the original build year of 1983, and the description's note about 'potential for updates' regarding underlying systems, it's unlikely to be a full 'within 5 years' renovation of all major systems (HVAC, electrical, plumbing infrastructure). Therefore, it fits the 'Good' category, indicating a move-in ready property with recent significant updates, but acknowledging the age of the underlying structure and systems which may not be brand new.
Pros & Cons

Pros

Great Schools: Elementary School: Newport Elementary School (9/10).
Exclusive Short-Term Rental Permits: The property boasts two highly coveted and transferable Short-Term Rental (STR) permits, a significant advantage in a market with a long waitlist (600+ applicants, 3+ year wait), ensuring immediate and substantial income potential.
Dual Income-Generating Properties: Comprising two separate, fully furnished modern Cape Cod homes (4BD/4BA and 2BD+Loft/2BA), this offering provides flexible rental options (individual or combined) and a projected annual revenue of $275,000, making it a robust turnkey investment.
Prime Coastal Location: Situated in a highly desirable Newport Beach location, steps from the bay for water activities and just one block from Tower 44 Beach, ensuring strong demand for rentals and long-term property appreciation.
Turnkey & Professionally Managed: Both homes are fully furnished, move-in ready, and professionally managed, offering a hassle-free investment for immediate income generation without the typical setup complexities.
Ample Parking & Unique Amenities: A rare 4-car garage in a beach community adds significant value, complemented by unique features like an industrial roll-up glass door, private outdoor shower, and an entertainer's patio with a beach club vibe.

Cons

High Barrier to Entry: The substantial list price of $6.299 million, even after a price reduction, represents a significant capital investment, potentially limiting the pool of prospective buyers and requiring a strong financial position.
Property Age & Potential for Updates: Built in 1983, while described as modern, the property's age suggests that some underlying systems or structural components may be original or nearing the end of their lifespan, potentially requiring future maintenance or capital expenditures.
Limited Direct Ocean View: Despite its proximity to the beach, the primary view is described as 'Neighborhood,' with only one primary suite deck offering a 'beach view,' which might not meet the expectations for direct, expansive oceanfront living often sought at this price point.

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