
Newport Beach, California 92661
This Luxury Oceanfront Duplex is a premier coastal asset listed at $6,490,000, reflecting its unique position relative to the $5,783,605 Fair Market Value. Boasting an Excellent Condition Rating with 2023 upgrades, the property features panoramic ocean views, a rare four-car garage, and two coveted Short-Term Lodging permits. Located in the Newport Mesa Unified district near Newport Elementary (9/10), it blends high-end lifestyle with significant income potential. This turnkey property is perfectly suited for Owner-Occupants looking to house-hack or Savvy Investors seeking a high-yield vacation rental business.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 700 E Oceanfront Subject | $6,490,000* List Price | 4 | 3 | 2,310 | $2,504 | - |
A 916 E Oceanfront Sold | $5,850,000 | 5 | 4 | 2,501 | $2,339 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This duplex has undergone extensive recent renovations, qualifying it for an excellent rating despite its 1973 build date. The property features newly remodeled kitchens with quartz composite countertops and modern islands, updated bathrooms, and high-end finishes throughout. Major systems are virtually new, including a roof and an HVAC system installed in 2023, along with new double-paned windows, ensuring no deferred maintenance.
Elementary School: Newport Elementary School (9/10).
The property includes two highly coveted Short-Term Lodging permits in a city with strictly limited availability, offering exceptional revenue potential as a turnkey vacation rental.
Situated directly on the boardwalk with panoramic views of the Pacific and Balboa Pier, this corner-lot property provides unparalleled access to the beach and local attractions.
The prominent corner location on the boardwalk results in high pedestrian activity and noise levels, which may impact the sense of privacy for occupants.
At a listing price of nearly $6.9 million for 2,310 square feet, the property commands a high price-per-square-foot that may require aggressive rental rates to achieve desired investment yields.
Fabulous remodeled oceanfront getaway, turnkey vacation rental business or BOTH? The choice is yours at 700 E Oceanfront The property presents a fantastic opportunity to own an updated duplex in the heart of the Balboa Peninsula. LOCATION LOCATION LOCATION, this property is near all of the attractions that you and/or your vacation rental guests desire. Steps away from the sand and ocean, the property is located on the boardwalk and walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. The corner location affords unparalleled sunlight and those cooling ocean breezes. The lower 1 bed/1 bath unit is newly remodeled and has its own indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with quartz composite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is well-designed and newly remodeled throughout, including kitchen (w/ island and wine fridge) and entertaining space, as well as 3 generous bedrooms (the Primary has its own kitchenette) and 2 bathrooms. The living/great room features breathtaking views of the ocean and Balboa Pier. The duplex has been professionally managed and meticulously maintained. Notable features include: Air conditioning (new in 2023), new roof, double-paned windows and functional and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. This oceanfront duplex offers a proven track record and excellent reviews from former guests. Incredible income potential with 2 Short Term Lodging permits in place. Act quickly! With only 1550 Short Term Lodging Permits available in the entire city, having a property with TWO on Oceanfront is truly a rare opportunity.
No exterior & parking available.
Grades PK-6 • 1.1 mi
Grades 7-8 • 1.5 mi
Grades 9-12 • 1.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.5 | 50% |
| Baths | 3.0 | 2.5 | 50% |
| Square foot | 2,310 | 2,438.5 | 17% |
| Lot Size | 2,614 | 3,049 | 33% |
| Price | $6.49M | $4.53M | 67% |
| Price per sq ft | $2.8K | $1.7K | 83% |
| Built year | 1973 | 1972 | 83% |
| HOA | $0 | $0 | 50% |
| Days on market | 72 | 164 | 17% |
Mar 19, 2026
$6,490,000
$6,890,000
-6% Price Drop
Initial Listing
Feb 9, 2026
$6,890,000
Initial Listing
Nov 17, 2022
$5,000,000
Public Record
Jun 1, 2020
$2,925,000
Public Record
Mar 24, 2005
$2,375,000
Public Record
Aug 11, 2003
$1,450,000
Public Record
Nov 19, 2002
$1,200,000
Public Record