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700 Lido Park 5, Newport Beach, California 92663, Newport Beach, 92663 - 3 bed, 2 bath

700 Lido Park 5, Newport Beach, California 92663 home-pic-0
ACTIVE$699,995
700 Lido Park 5, Newport Beach, California 92663
3Beds
2Baths
1,200Sqft
Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Waterfront Location: Located in the highly desirable, gated Cannery Village on Newport's Lido Peninsula, offering an exclusive coastal lifestyle with direct bay access.
Top Cons:
Substantial Monthly Land Lease: The property is subject to a significant monthly land lease of $3,150, which adds a considerable recurring cost to ownership beyond typical HOA fees.

Compared to the nearby listings

Price:$700.0K vs avg $3.17M ($-2,465,005)4%
Size:1,200 sqft vs avg 2,390 sqft8%
Price/sqft:$583 vs avg $1.5K4%

More Insights

Built in 2003 (22 years old).
Condition: Built in 2003, this property has undergone extensive and tasteful modern upgrades, bringing it to an excellent condition. The kitchen features contemporary flat-panel white cabinetry, modern white countertops (quartz-like, not granite as stated but visually superior), stainless steel appliances, and stylish subway tile backsplash, all appearing virtually new. The flooring throughout is a consistent light wood-look, and bathrooms are described as upgraded with designer tiles and vanities. The overall aesthetic is fresh, modern, and shows no signs of deferred maintenance, aligning with the 'extensively renovated within 5 years' aspect of an excellent rating.
Year Built
2003
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$583
HOA
-
Days on market
-
Sold On
-
MLS number
250039633SD
Home ConditionExcellent
Features
Good View:
Deck
View-

About this home

Outstanding Value on Newport's Lido Peninsula on the Bay! Welcome to Coastal Living in sought-after Cannery Village, a charming, gated water front community within Newport Beaches’ yacht lovers Balboa Peninsula! It even has Community Dock! Low Land Monthly Land Lease! Ask for Details!* This tastefully upgraded 1,200 square foot 3-bedroom 2-bath home is filled w/modern luxuries! As you walk a spacious front porch welcomes you. Upon entry, a great room invites you with wood flooring, designer paint, an open galley style kitchen with granite counter tops, upgraded cabinets, stainless-steel appliances, & tile flooring. The downstairs also features a spacious bedroom and upgraded bathroom with a decorator tile shower, upgraded marble vanity & designer tile floors. Step outside the downstairs bedroom to a separate custom built fully finished enclosed bonus storage room currently set up as a mini-office. There is also a single-car garage with finished epoxy flooring. Upstairs you will find two more spacious bedrooms with wood-style flooring and a second bathroom with designer tile in tub/shower area & upgraded vanity. One of the upstairs bedrooms is currently set up as a mini living room and kitchenette, directly off this room is a spacious outdoor balcony ideal for relaxing and entertaining. This creative set up allows for the entire upstairs space to be used as a second living space w/ its own living room, kitchenette, full bath, spacious bedroom, and a large outdoor balcony w/ views of Yachts on the Harbor. Enjoy the relaxing BBQ, Spa & Community Dock! *Other Fees reflect $3,150 current Monthly Land Lease Amount. Ask for details.

Condition Rating
Excellent
Built in 2003, this property has undergone extensive and tasteful modern upgrades, bringing it to an excellent condition. The kitchen features contemporary flat-panel white cabinetry, modern white countertops (quartz-like, not granite as stated but visually superior), stainless steel appliances, and stylish subway tile backsplash, all appearing virtually new. The flooring throughout is a consistent light wood-look, and bathrooms are described as upgraded with designer tiles and vanities. The overall aesthetic is fresh, modern, and shows no signs of deferred maintenance, aligning with the 'extensively renovated within 5 years' aspect of an excellent rating.
Pros & Cons

Pros

Prime Waterfront Location: Located in the highly desirable, gated Cannery Village on Newport's Lido Peninsula, offering an exclusive coastal lifestyle with direct bay access.
Extensively Upgraded Interiors: Features modern luxuries including wood flooring, designer paint, an open galley kitchen with granite countertops, stainless steel appliances, and upgraded bathrooms.
Versatile Floor Plan: The upstairs is creatively set up as a potential second living space with a kitchenette, full bath, bedroom, and a large outdoor balcony, offering flexibility for residents or guests.
Exceptional Community Amenities: Residents benefit from a community dock, BBQ area, and spa, enhancing the waterfront living experience and catering to yacht enthusiasts.
Additional Practical Features: Includes a spacious front porch, a custom-built enclosed bonus room (ideal for a mini-office), and a single-car garage with epoxy flooring.

Cons

Substantial Monthly Land Lease: The property is subject to a significant monthly land lease of $3,150, which adds a considerable recurring cost to ownership beyond typical HOA fees.
Land Lease Ownership Structure: The land lease arrangement means the buyer does not own the land, potentially affecting long-term equity growth, financing options, and resale value compared to traditional fee simple ownership.
Compact Interior Footprint: With 1,200 square feet for a 3-bedroom, 2-bathroom duplex, the interior living space is relatively compact, which may not suit all buyer preferences for size.

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