1514 W Oceanfront

1514 W Oceanfront
Balboa Peninsula (Residential) (BALP)
Newport Beach CA 92663
Offered at: $5,995,000
Status: Active

Contact:
Allan Heller
949.395.9966

Rare legal oceanfront Triplex in highly desired, central oceanfront location on the boardwalk between the two piers was recently remodeled in 2020. Excellent income history with proven track record and immaculate condition. Live in one unit and offset costs by renting the other 2! Stunning unobstructed "sit-down" ocean, Catalina and sunset views from the 2 front units. Recent upgrades include new interior and exterior paint in all units, remodeled kitchens, new tiled bathrooms with seamless glass showers, double sinks and quartz countertops. All 3 units are 2 bedroom and 1 bath. Unit A is the upper oceanfront unit that sleeps 7 with vaulted beam ceilings throughout, Great Room with walls of glass to the ocean, brick fireplace, wood floors, open kitchen with breakfast bar and new quartz countertops in kitchen and bathroom. Unit B is the lower oceanfront unit that sleeps 6 and features a private front patio w/ sliding door, brick fireplace, open kitchen, dining nook, breakfast bar, gas cooktop, new quartz countertops and tile backsplash in remodeled kitchen and bathroom. Unit C is the lower back unit that sleeps 6 and does not face the ocean. Nicely remodeled with tile and wood floors, beam ceiling, crown molding, open floor plan, remodeled kitchen and bath. Each unit has access to a 1 car garage and shared laundry. Pro-forma gross income of $376K and net income $200K (3.4% Cap rate). All furnishings included. Close proximity to Marina Park, Balboa Fun Zone and 20+ restaurants.
Property Features
General
  • Year Built: 1957
  • Bedrooms: 6
  • Bathrooms Total: 3
  • Living Area: 2800.00 Sq Ft
  • Lot Size: 3049 Sq Ft
  • Levels: Two
  • Property Sub Type: Single Family Residence
  • Has HOA?: No
Interior
  • Interior Features: Beamed Ceilings, Built-Ins, Cathedral-Vaulted Ceilings, Ceiling Fan, Crown Moldings, Furnished, Granite Counters, High Ceilings (9 Feet+), Open Floor Plan, Recessed Lighting, Stone Counters, Storage Space
  • Cooling: None
  • Heating: Electric
  • Accessibility Features: None
  • Appliances: Dishwasher, Electric Stove, Garbage Disposal, Gas Stove, Gas Water Heater, Microwave, Refrigerator
  • Laundry: Area, Dryer Included, Gas & Electric Dryer Hookup, Individual Room, Washer Included
  • Room Type: Great Room, Kitchen, Laundry, Living Room, Main Floor Bedroom, Main Floor Master Bedroom, Master Bathroom, Master Bedroom
  • Fireplace Features: Living Room
  • Flooring: Laminated, ,
Exterior
  • Has Pool?: No
  • Pool Features: None
  • Has Spa?: No
  • Spa Features: None
  • Common Walls: No Common Walls
  • Architectural Style: Traditional
  • Has View?: Yes
  • View: Catalina, Coastline, Ocean, Panoramic, Pier, Water, White Water
  • Exterior Features:
  • Waterfront Features: Beach Access, Beach Front, Ocean Front, Ocean Side of Freeway, Ocean Side Of Highway 1
  • Parking Total: 3
  • Has Attached Garage?: Yes
  • Garage Spaces: 3
  • Carport Spaces: 0
  • Uncovered Spaces: 0
  • Parking Features: Built-In Storage, Garage, Garage - Three Door, No Driveway
School Information
  • High School District: Newport Mesa Unified
  • High School: HARBOR
  • Middle or Junior School: ENSIGN
  • Elementary School: NEWPOR
Listing Information
  • Listing Id: OC20142121
  • Listing Agent: Dean Lueck (01752859)
  • Listing Office: Compass
Listing data is updated every hour and was last updated on Sun, Sep 27, 2020 at 11:16:19 (America/Los_Angeles). All displayed listing data comes from the California Regional Multiple Listing Service, Inc. (CRMLS). This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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