Property listed by MEEHAN ESTATES, INC., Brendan Horgan 949-510-6162
$4,050,000
**Investment Property Opportunity with Value-Added Potential**
This property is currently appraised at $4,050,000 (MAI Appraisal). As a short-term rental, the estimated value increases to $4,555,000. Additionally, the large lot has the potential for constructing an Accessory Dwelling Unit (ADU) in the back, which could push the total value of the property… Read More to well over $6,000,000. You won’t find other properties on the Peninsula that offer this type of opportunity.
This rare investment is just steps from the beach, located in one of Newport Beach’s most desirable coastal communities. It features a two-car garage and offers peak ocean views from the balcony. The property is conveniently situated just a quick drive from all that Orange County has to offer, including:
- Pelican Hill Golf and Resort (10 minutes)
- John Wayne Airport (10 minutes)
- Angel Stadium & Honda Center (15 minutes)
- Disneyland (20 minutes)
- Knotts Berry Farm (20 minutes)
- Laguna Beach (15 minutes)
- Huntington Beach Pier (5 minutes)
- Newport Harbor Fun Zone (3 minutes)
- Fashion Island (5 minutes)
- Segerstrom Hall & South Coast Plaza (15 minutes)
Furthermore, this property presents an excellent opportunity for use as a primary residence. The upstairs can serve as a living space while the lower unit can be rented out as an income-producing property.
Both units are currently rented on a month-to-month basis. Please contact the agent for showings. Read Less
Listing Snapshot
Days Online
44
Last Updated
Property Type
Duplex
Square Ft.
2,304
Lot Size
0.08 Acres
Year Built
1962
MLS Number
LG26212290
Additional Details
Appliances & Equipment
BuiltInRange, Dishwasher, Disposal
Building
Built in 1962, 1 building, 2 stories, Levels: Two, Entry level: 1, Entry location: ground
Community
StreetLights, Suburban, WaterSports
Cooling
CentralAir
Doors
FrenchDoors
Expenses
Operating: $7,947
Fence
Block, Wood
Fireplaces
None
Garage
2 spaces
Heating
Central
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $154,800, Net Operating Income: $139,113
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
