1402 W Oceanfront Newport Beach, CA 92661

$3,310,000 Sold Price as of 12/20/2018

-- Beds
-- Baths
1,932 Sq.Ft.

Off Market

$3,310,000 Sold Price as of 12/20/2018 Refinance Your Mortgage

Map preview of 1402 W Oceanfront, Newport Beach, CA 92661

Property Overview: 1402 W Oceanfront Newport Beach, CA has -- bedrooms, -- bathrooms, 1,932 living square feet and 3,024 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

1402 W Oceanfront is currently an off market home in the city of Newport Beach. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Newport Beach has a median list price of $4,298,800. The median price per/sqft for Newport Beach is $1,506. With those numbers in mind, if you are looking to purchase a median priced home in Newport Beach, CA and put 20% down you will need to save up $859,760 for the down payment and will need roughly $85,976 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Newport Beach the commission could be as much as $185,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 1402 W Oceanfront

Last sold for $3,310,000 on December 20th, 2018

January, 2024
Jan 1, 2024

Date

Canceled

CRMLS: OC23207499

$5,995,000

Price
Nov 9, 2023

Date

Active

CRMLS: OC23207499

$5,995,000

Price
Listing provided courtesy of CRMLS

INVESTOR/BUILDER OPPORTUNITY! Oceanfront duplex complete with two highly coveted active short-term-rental permits from the city of Newport Beach, this multi-family Balboa Peninsula oceanfront property is located right on the sand and convenient boardwalk. PRELIMINARY PLANS to construct a NEW 3833 square foot DUPLEX with 1200 sf of decks on this extra large lot with estimated annual GROSS INCOME OF $574,000 that generates a pro-forma CAP RATE of 4.3%. Based on the construction cost estimates and projected value added upon completion (based on recent comparable sales), the analysis projects a strong pro-forma return on investment. The financial information presented in this listing are pro-forma projections only based on building a new 4000 sf duplexThe modern, open concept Duplex would feature 2 stacked oceanfront units, each with spectacular views of the blue pacific, crashing waves and sandy beach from the front of each unit. The larger upper unit would feature 4 bedrooms and 3.5 bathrooms plus and elevator access to all levels including the 1100 sf rooftop deck featuring a 500 sf covered cabana with vaulted ceiling and heaters. The deck also offers a spa, outdoor fireplace Bar/BBQ, lounge and sun deck. The lower unit features 3 bedrooms and 3 bathrooms and an ocean front patio. Each unit would have their own laundry and private entrance. A 2 car garage plus 2 carports allows for plenty of parking and storage for bikes and beach toys. Also great flexibility to rent one of the units to defray costs and enjoy the other as your primary or secondary residence! The adorable, existing 1 BR, 1 BA unit is already a successful vacation rental with strong income history to offset costs while you’re finishing up plans and permits. Ideal location! Walk across the sand to beach volleyball courts, playground, 15th street Surf Shop, Fry's Market or explore nearby Marina Park, the Fun Zone, Newport Beach’s famous pier, and the upscale shops and restaurants at Lido Marina Village. Surfing, golf, Fashion Island, movie theaters and more are all moments away.

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January, 2024
Jan 1, 2024

Date

Canceled

CRMLS: OC23207502

$5,995,000

Price
Nov 9, 2023

Date

Active

CRMLS: OC23207502

$5,995,000

Price
Listing provided courtesy of CRMLS

PRELIMINARY PLANS TO EXPAND UP TO 3800 SF! This large multi-family lot allows you to develop a spectacular, oceanfront owners unit PLUS an ADU in the back of the property. Ideal for primary or second home owners that desire to offset annual costs with rental income from the ADU. The property comes complete with two highly coveted active short-term-rental permits from the city of Newport Beach, this oceanfront property on an extra large lot is located right on the sand and a convenient boardwalk location on the Balboa Peninsula with strong short term rental history. Spectacular beach views are enjoyed from the existing front home, which offers one bedroom and one bathroom in an open-concept single-story floorplan. Enjoy a gated front patio, ocean-view living room, a white dine-in kitchen, laundry porch, luxury vinyl plank flooring and crown molding. An additional two-level home at the back of the property features three bedrooms and two baths. Walk across the sand to beach volleyball courts, playground, 15th street Surf Shop, Fry's Market or explore nearby Marina Park, the Fun Zone, Newport Beach’s famous pier, and the upscale shops and restaurants at Lido Marina Village. Surfing, golf, Fashion Island, movie theaters and more are all moments away. LOTS OF OPPORTUNITES to renovate and expand the current home to meet your needs and financial objectives! Please also see MLS# OC23207499 in the Multi-family Income Property section of the MLS to learn more about preliminary plans and pro-forma financial analysis to build a new 3822 sf duplex with 1200 sf of decks on this lot!

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December, 2023
Dec 7, 2023

Date

Canceled

CRMLS: OC23186244

$6,495,000

Price
Oct 5, 2023

Date

Active

CRMLS: OC23186244

$6,495,000

Price
Listing provided courtesy of CRMLS

Complete with two highly coveted active short-term-rental permits from the city of Newport Beach, this oceanfront property is located right at the sand on the Balboa Peninsula. Spectacular beach views are enjoyed from the front home, which offers one bedroom and one bathroom in an open-concept single-story floorplan. Enjoy a gated front patio, ocean-view living room, a white dine-in kitchen, laundry porch, luxury vinyl plank flooring and crown molding. An additional two-level home at the back of the property features three bedrooms and two baths. Walk across the sand to beach volleyball courts, 15th street Surf Shop, Fry's Market or explore nearby Marina Park, the Fun Zone, Newport Beach’s famous pier, and the upscale shops and restaurants at Lido Marina Village. Surfing, golf, Fashion Island, movie theaters and more are all moments away.

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December, 2018
Dec 21, 2018

Date

Sold

CRMLS: LG18244195

$3,300,000

Price
Nov 15, 2018

Date

Price Change

CRMLS: LG18244195

$3,495,000

Price
Oct 7, 2018

Date

Active

CRMLS: LG18244195

$3,750,000

Price
Listing provided courtesy of CRMLS

This Balboa Peninsula original condition oceanfront duplex is a prime redevelopment opportunity. Located on a 30’ x 102.5’ lot, the deepest on the Peninsula, the sandfront property features spectacular ocean, whitewater, coastline, and Catalina Island views. All the fun of Newport Beach living is out your front door: surfing, swimming, beach-combing, stand-up paddle boarding, bicycle riding, running or roller blading on the boardwalk, sunset watching, strolling the sand, beach volleyball, sailing on the bay or enjoying the world famous Fun Zone, nightlife, and fine dining of the Newport and Balboa piers. Build the home, duplex or two condominiums of your dreams. Trustees Sale.

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December, 2018
Dec 20, 2018

Date

Sold (Public Records)

Public Records

$3,310,000

Price

Tax History for 1402 W Oceanfront

Assessed Value (2020): $3,296,703

Year	Land Value	Improved Value	Assessed Value
2020	$3,000,000	$296,703	$3,296,703

About 1402 W Oceanfront

Detailed summary of property

1402 W Oceanfront is categorized with a use code of Triplex (3 Units, Any Combination) in Newport Beach, CA 92661 and last sold on December 20, 2018 for $3,310,000. This property has -- bedrooms, -- bathrooms, roughly 1,932 living square feet, and sits on an approximately 3,024 square foot lot. Homes in Newport Beach are selling for a median price of $3,700,000 and a median price per square foot of $1,360. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is sold 10.54% lower than the current median priced home. 1402 W Oceanfront was last sold on December 20, 2018 for $3,310,000. Local nearby listings include 425 Belvue Ln, 1003 E Balboa Blvd and 426 Belvue Ln. The average home in Newport Beach, CA is selling in 74 days. There are currently 269 homes for sale in the Newport Beach real estate market and 201 of them are single family homes while 55 of them are condos and 13 are townhomes. If you are the homeowner and looking to sell the home at 1402 W Oceanfront Newport Beach, CA 92661 contact Ardent Real Estate Group and we will put you in touch with one of our Newport Beach agents.

Public Facts for 1402 W Oceanfront

Public county record property details

Beds: --
Baths: --
Year built: 1945
Sq. Ft.: 1,932
Lot Size: 3,024
Stories: --

Type: Triplex (3 Units, Any Combination)
Pool: No
Spa: No
County: Orange
Lot#: 2
APN: 047-212-10

The source for these homes facts are from public records.

92661 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$6,750,000

Median List Price/Sq.Ft.

$2,241

Median Sold Price

$4,625,000

Median Sold Price/Sq.Ft.

$1,741

Total Inventory

Median Sale to List Price %

92.59%

Avg Days on Market

Loan Type

Conventional (12.5%), FHA (0%), VA (0%), Cash (37.5%), Other (37.5%)

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