RealKey
‪(213) 433-7766‬

700 E Oceanfront, Newport Beach, California 92661, Newport Beach, 92661 - 4 bed, 3 bath

700 E Oceanfront, Newport Beach, California 92661 home-pic-0
ACTIVE$6,690,000
700 E Oceanfront, Newport Beach, California 92661
4Beds
3Baths
2,310Sqft
2,614Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Unbeatable Oceanfront Location: Directly on the Balboa Peninsula boardwalk, steps from the sand and ocean, and walking distance to major attractions like the Balboa Fun Zone and ferry services, offering unparalleled access to coastal living and entertainment.
Top Cons:
High Exposure to Public Activity: Being directly on the boardwalk and near popular attractions means constant public foot traffic and potential noise, which may compromise privacy for an owner-occupant.

Compared to the nearby listings

Price:$6.69M vs avg $2.70M (+$3,990,000)75%
Size:2,310 sqft vs avg 904 sqft75%
Price/sqft:$2.9K vs avg $74775%

More Insights

Built in 1973 (52 years old).
Condition: Despite being built in 1973, this duplex has undergone a comprehensive and recent renovation, as explicitly stated in the description ('newly remodeled throughout,' 'new AC in 2023,' 'new roof,' 'double-paned windows'). The images confirm a high standard of finish, showcasing modern kitchens with white shaker cabinets, quartz countertops, stainless steel appliances, and stylish islands. The bathrooms feature contemporary vanities, fixtures, and tiling, all appearing virtually new. The flooring is consistent hardwood throughout, and lighting is updated with recessed lights and modern fixtures. All major systems and cosmetic elements have been recently updated, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'extensively renovated within 5 years' criteria for an excellent rating.
Year Built
1973
Close
-
List price
$6.69M
Original List price
$6.99M
Price/Sqft
$2,896
HOA
-
Days on market
-
Sold On
-
MLS number
OC25098087
Home ConditionExcellent
Features
Excellent View: Ocean
Deck
ViewOcean

About this home

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.

Nearby schools

9/10
Newport Elementary School
Public,•PK-6•1.1mi
7/10
Horace Ensign Intermediate School
Public,•7-8•1.5mi
7/10
Newport Harbor High School
Public,•9-12•1.7mi
Condition Rating
Excellent
Despite being built in 1973, this duplex has undergone a comprehensive and recent renovation, as explicitly stated in the description ('newly remodeled throughout,' 'new AC in 2023,' 'new roof,' 'double-paned windows'). The images confirm a high standard of finish, showcasing modern kitchens with white shaker cabinets, quartz countertops, stainless steel appliances, and stylish islands. The bathrooms feature contemporary vanities, fixtures, and tiling, all appearing virtually new. The flooring is consistent hardwood throughout, and lighting is updated with recessed lights and modern fixtures. All major systems and cosmetic elements have been recently updated, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'extensively renovated within 5 years' criteria for an excellent rating.
Pros & Cons

Pros

Unbeatable Oceanfront Location: Directly on the Balboa Peninsula boardwalk, steps from the sand and ocean, and walking distance to major attractions like the Balboa Fun Zone and ferry services, offering unparalleled access to coastal living and entertainment.
Exceptional Income Potential: A duplex configuration with two rare, in-place Short Term Lodging permits, a proven track record of excellent reviews, and professional management, making it a highly lucrative investment opportunity.
Extensive Recent Renovations & Upgrades: Both units are newly remodeled throughout, featuring a new AC system (2023), new roof, double-paned windows, and modern cosmetic updates, ensuring a turnkey and contemporary living experience.
Rare Oversize Garage: Includes a highly valuable and rare oversize garage capable of accommodating up to four cars, a significant advantage in a high-demand coastal area where parking is often scarce.
Breathtaking Ocean Views & Corner Lot Advantage: The upstairs unit offers stunning views of the ocean and Balboa Pier, complemented by a corner location that provides abundant natural sunlight and refreshing ocean breezes.

Cons

High Exposure to Public Activity: Being directly on the boardwalk and near popular attractions means constant public foot traffic and potential noise, which may compromise privacy for an owner-occupant.
Ongoing Maintenance Demands: Oceanfront properties are inherently subject to accelerated wear and tear from salt air and coastal elements, potentially leading to higher long-term maintenance costs despite recent upgrades.
Limited Private Green Space: While an oversized deck is present, the property description does not indicate significant private yard or green space, which some buyers might desire for more secluded outdoor living.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state