$5,700,000
$5,999,000
5.0%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
5 Baths
3,937 SqFt
SOLD DATE : 09/04/2018
Key Details
Sold Price $5,700,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 3,937 sqft
Price per Sqft $1,447
Subdivision Newport Island (Newi)
MLS Listing ID OC18048145
Sold Date 09/04/18
Bedrooms 4
Full Baths 5
Construction Status Updated/Remodeled
HOA Fees $40/mo
HOA Y/N No
Year Built 1954
Property Description
This multi-generational property has been owned by the same local prominent family for over 50 years. It took them nearly a decade, back in the mid 1900s to acquire these 3 "R2" parcels in a row, located in a premium bayfront location on Newport Island, Newport Beach. Arguably the most unique quality is that the city still recognizes there to be 3, (est) 30 foot wide R2 parcels ready for development as there are still 3 individual utility laterals running under each parcel. This marks an exciting opportunity to enjoy the recently remodeled beach house that retains its mid-century character, while having an incredible investment/development opportunity in the land below for future use. The current boat dock can accommodate a vessel up to 50 feet! Currently priced at land value, don't let this exceptional opportunity pass you by.
Location
State CA
County Orange
Area N8 - West Newport - Lido
Rooms
Main Level Bedrooms 2
Ensuite Laundry Inside
Interior
Interior Features Bedroom on Main Level, Main Level Master
Laundry Location Inside
Heating Central
Cooling Central Air
Fireplaces Type Dining Room, Family Room, Master Bedroom
Fireplace Yes
Laundry Inside
Exterior
Exterior Feature Boat Slip, Dock
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Street Lights
Amenities Available Playground
Waterfront Description Bay Front,Ocean Access,Ocean Side Of Highway,Seawall
View Y/N Yes
View Bay, Harbor, Panoramic, Water
Attached Garage No
Total Parking Spaces 2
Private Pool No
Building
Lot Description Corner Lot, Level, Tear Down, Value In Land
Story 2
Entry Level Two
Sewer Sewer Tap Paid
Water Public
Architectural Style Custom
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Schools
School District Newport Mesa Unified
Others
HOA Name Newport Island
Senior Community No
Tax ID 42306106
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Tim Smith • Coldwell Banker Res. Brokerage
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "