$2,550,000
$2,750,000
7.3%For more information regarding the value of a property, please contact us for a free consultation.
1,374 SqFt
SOLD DATE : 03/10/2023
Key Details
Sold Price $2,550,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,374 sqft
Price per Sqft $1,855
Subdivision Newport Island (Newi)
MLS Listing ID OC23016692
Sold Date 03/10/23
HOA Y/N No
Year Built 1960
Lot Size 4,029 Sqft
Acres 0.0925
Property Description
After more than 50 years, one of the most exclusive and largest interior corner lots on Newport Island is now available at 509 38th Street and 3801 Channel. The possibilities here are endless. Per Architects estimates, a luxurious 4,250 square foot custom home or duplex can be constructed on this 4,029 square foot lot. Currently, 2, 1 bedroom 1 bathroom, nicely appointed units with outdoor patios and two single car garages are available to be rented: each for approximately $3,000 a month. These rentals present a fantastic opportunity to offset carrying costs during the planning process to build or can simply be held as long-term rentals. Newport Island has a very intimate setting, positioned walking distance to the Ocean and steps from the Newport Harbor. Situated on the west side of the Island, Newport Island Park offers a kids play area, half-court basketball and grill area, all while enjoying views of the water. This is an opportunity that may only come once in a lifetime, don’t miss it.
Location
State CA
County Orange
Area N8 - West Newport - Lido
Zoning R2
Rooms
Ensuite Laundry In Kitchen
Interior
Interior Features High Ceilings, Storage, All Bedrooms Down, Bedroom on Main Level, Galley Kitchen
Laundry Location In Kitchen
Heating Central
Cooling None
Flooring Laminate, Tile
Fireplaces Type None
Fireplace No
Appliance Built-In Range, Dishwasher, Electric Cooktop, Electric Oven, Water Heater
Laundry In Kitchen
Exterior
Exterior Feature Rain Gutters
Garage Concrete, Driveway Level, Door-Single, Driveway, Garage, Garage Door Opener, Paved
Garage Spaces 2.0
Garage Description 2.0
Fence Block
Pool None
Community Features Biking, Dog Park, Park, Sidewalks, Water Sports
Waterfront Description Ocean Side Of Highway
Roof Type Composition,Shingle
Parking Type Concrete, Driveway Level, Door-Single, Driveway, Garage, Garage Door Opener, Paved
Total Parking Spaces 4
Private Pool No
Building
Lot Description Corner Lot, Value In Land
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Architectural Style Ranch
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 42306403
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Brian Wollner • Coldwell Banker Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "