Search
1514 W Oceanfront, Newport Beach, CA 92663
Image 2 for 1514 W Oceanfront, Newport Beach, CA 92663
Image 3 for 1514 W Oceanfront, Newport Beach, CA 92663
View Photos

1514 W Oceanfront Newport Beach, CA 92663

$5,995,000 Sold Price as of 06/21/2021
  • 6 Beds
  • 3 Baths
  • 2,800 Sq.Ft.
Sold
$5,995,000 Sold Price as of 06/21/2021 Refinance Your Mortgage
Map preview of 1514 W Oceanfront, Newport Beach, CA 92663

Property Overview: 1514 W Oceanfront Newport Beach, CA has 6 bedrooms, 3 bathrooms, 2,800 living square feet and 3,049 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Extraordinary opportunity to own a premier beachfront parcel in Balboa Peninsula with three transferable short term lodging permits. Capturing the symphonic pounding of surf, this pristine two-story beach-front compound is comprised of three spacious units and is constructed with features such as beamed ceilings, recessed lighting, brick fireplaces, and wood flooring. The front-facing units A and B offer views of the idyllic beaches of Newport from the balcony/deck, while the back unit offers privacy and serenity just moments from the sand. With an option to vacation or live in one unit and rent out the others, 1514 W Oceanfront is ideal as an exceptional compound for significant income opportunity or a seaside retreat for family and friends. Having achieved a net operating income of approximately $254,174 in 2020 amidst COVID-19 city restrictions, and adjusting for new property taxes for 2021, the triplex proves tremendous value and anticipates a net operating income of approximately $240,000 with a cap rate of approximately 4%.

Listed by Tim Smith | BRE #01346878 | Coldwell Banker Realty
Co-listed by Greg Blake | BRE #01227057 | Coldwell Banker Realty
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 51

Home details

Lot Sq. Ft
3,049
HOA Dues
$0/mo
Year built
1957
Garage
3 Car
Property Type:
Triplex
Status
Sold
MLS#
NP21063345
City
Newport Beach
County
Orange
Time on Site
1116 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 1
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Total Rent: $0
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Total Rent: $0
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Total Rent: $0
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.23%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $424,716
  • Net Operating Income: $254,174
  • Gross Operating Income: --
  • Laundry Income: $1,000
  • Other Income 1: $22,435
  • Other Income Description: Cleaning fees
Annual Expense Breakdown
  • Total Operating Expense: $141,394
  • Electric: $1,468
  • Gas/Fuel: $1,468
  • New Taxes: $63,117
  • Trash: $1,468
  • Insurance: $1,308
  • Maintenance: $2,164
  • Professional Management: $74,720
  • Water/Sewer: $1,468
  • Other Expenses: $32,400
  • Other Expense Description: Bed Tax

Virtual Tour

Use the following link to view this property's virtual tour:

Property Details for 1514 W Oceanfront

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace, Natural Gas, Fireplace(s)
Laundry Information
  • Has Laundry
  • Common Area
Fireplace Information
  • Has Fireplace
  • Dining Room, Family Room, Living Room, Master Bedroom, Gas, Masonry
Room Information
  • Flooring: Laminate, Tile
  • Family Room
Kitchen Information
  • Has Appliances
  • Built-In Range, Convection Oven, Disposal, Gas Range, Gas Cooktop, Gas Water Heater, Refrigerator
Interior Features
  • Balcony, Beamed Ceilings, Ceiling Fan(s), Ceramic Counters, Recessed Lighting, Tile Counters, Track Lighting
  • Levels: Two
  • Window Features: Screens
  • Door Features: Mirror Closet Door(s), Sliding Doors
Exterior Features
Exterior Information
  • Roof: Shingle
  • Lighting
  • Has Fence
  • Block, Masonry
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
Lot Information
  • Lot Features: Level with Street, No Landscaping
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Ocean, Panoramic, Water, White Water
  • Common Walls: No Common Walls
  • Total # of Units: 3
  • Parcel Number: 04721120
  • Year Built Source: Assessor
  • Property is not Attached
  • Offered With Property: All furnishings including cookware, kitchenware, linens, A/V equipment, and accessories.
  • Property Condition: Turnkey
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Available, Electricity Available, Natural Gas Available
Location / Neighborhood
Location Information
  • Subdivision Name: Balboa Peninsula (Residential) (BALP)
  • Directions: From W Balboa Blvd toward 18th St, turn onto 19th St, turn onto W Oceanfront
  • Road Surface Type: Alley Paved, Paved
Neighborhood Information
  • Community Features: Biking
View more facts & features

Local Newport Beach Agent

Sale History for 1514 W Oceanfront

Last sold for $5,995,000 on June 21st, 2021

  • June, 2021

  • Jun 21, 2021

    Date

    Sold

    CRMLS: NP21063345

    $5,995,000

    Price

  • Jun 21, 2021

    Date

    Pending

    CRMLS: NP21063345

    $5,995,000

    Price

  • May 27, 2021

    Date

    Active Under Contract

    CRMLS: NP21063345

    $5,995,000

    Price

  • Apr 6, 2021

    Date

    Active

    CRMLS: NP21063345

    $5,995,000

    Price

  • January, 2021

  • Jan 1, 2021

    Date

    Expired

    CRMLS: OC20139091

    $5,950,000

    Price

  • Dec 22, 2020

    Date

    Active

    CRMLS: OC20139091

    $5,950,000

    Price

  • Dec 19, 2020

    Date

    Sold

    CRMLS: OC20139091

    --

    Price

  • Nov 24, 2020

    Date

    Price Change

    CRMLS: OC20139091

    $5,950,000

    Price

  • Jul 17, 2020

    Date

    Active

    CRMLS: OC20139091

    $5,995,000

    Price

  • Listing provided courtesy of CRMLS

    Rare legal oceanfront Triplex in highly desired, central oceanfront location on the boardwalk between the 2 piers was recently remodeled earlier this year. Excellent income history with proven track record. Stunning unobstructed "sit-down" ocean, Catalina and sunset views from the 2 front units. Recent upgrades include termite clearance, new interior and exterior paint, 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, fireplace, wood floors, open kitchen, breakfast bar and quartz countertops. Unit B is the lower oceanfront unit that sleeps 6 and features a private front patio w/ sliding door, fireplace, open kitchen, dining nook, breakfast bar, quartz countertops, remodeled kitchen and bathroom. Unit A and B can be connected to offer a 4 bed/2 bath configuration for larger groups. Unit C is the lower back unit that sleeps 6. Nicely remodeled with wood floors, beam ceiling, open floor plan, remodeled kitchen and bath. Each unit has access to a 1 car garage and shared coin-op laundry room. Reserve all 3 units for extended family vacations. All furnishings included. Close proximity to Marina Park, Balboa Fun Zone and restaurants. Actual 2020 gross income estimated at $358,000 and could have been $400K without COVID and remodel. Newport Beach short term rental permit!

  • January, 2021

  • Jan 1, 2021

    Date

    Expired

    CRMLS: OC20142121

    $5,950,000

    Price

  • Nov 24, 2020

    Date

    Price Change

    CRMLS: OC20142121

    $5,950,000

    Price

  • Jul 18, 2020

    Date

    Active

    CRMLS: OC20142121

    $5,995,000

    Price

  • Listing provided courtesy of CRMLS

    Large single family Villa overlooking the ocean with 4 bed/2 baths and separate rear 2 bed/1 bath guest unit. Currently configured as a legal oceanfront Triplex in a central location on the boardwalk 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(s). Stunning unobstructed "sit-down" ocean, Catalina and sunset views from the 2 front units. Recent upgrades include interior and exterior paint, remodeled kitchens, 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, fireplace, wood floors, open kitchen, breakfast bar and quartz countertops. Unit B is the lower oceanfront unit that sleeps 6 and features a private front patio, fireplace, open kitchen, dining nook, breakfast bar, quartz countertops and remodeled kitchen and bathroom. Unit A and B can be connected for a larger 4 bed home. Unit C is the lower back unit remodeled with wood floors, beam ceiling, remodeled kitchen and bath. Each unit has access to a 1 car garage and shared laundry. Actual 2020 income estimated at $358,000 (3.1% cap) which could have been $400K without COVID and remodel impact. All furnishings included. Close proximity to Marina Park, Balboa Fun Zone and restaurants. Newport Beach Short Term Rental Permit!

  • September, 2019

  • Sep 30, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1514 W Oceanfront

Assessed Value (2020): $2,536,231
Year Land Value Improved Value Assessed Value
2020 $2,434,782 $101,449 $2,536,231

Home Value Compared to the Market

This property vs the competition

1514 W Oceanfront sold on June 21, 2021 for 128.29% higher than the current median sold price for the city of Newport Beach which is $2,626,000. The median sold price per/sqft for Newport Beach is $1,073 and this home is sold at $2141.07 per/sqft which puts the price per square foot 99.54% higher than the current median sale per square foot for the city of Newport Beach.

About 1514 W Oceanfront

Detailed summary of property

1514 W Oceanfront is a triplex that recently sold in Newport Beach, CA 92663. This triplex offered 6 bedrooms, 3 bathrooms, roughly 2,800 living square feet, and sits on an approximately 3,049 square foot lot. 1514 W Oceanfront was first listed on ArdentRealEstateGroup.com on April 6, 2021. The homeowner sold the property for $5,995,000. Home in Newport Beach are selling for a median price of $2,626,000 and a median price per square foot of $1,073. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is sold 128.29% higher than the current median priced home. Local homes that are currently for sale include 1201 W Diamond St, 5571 E Seaside and 925 S Malden Ave. While the average home in Newport Beach, CA is selling in 75 days, 1514 W Oceanfront has a days on market of 51 days. There are currently 260 homes for sale in the Newport Beach real estate market and 192 of them are single family homes while 54 of them are condos and 14 are townhomes. For more information on this home for sale at 1514 W Oceanfront Newport Beach, CA 92663 contact Ardent Real Estate Group and we will put you in touch with one of our Newport Beach agents.

Public Facts for 1514 W Oceanfront

Public county record property details
Beds
--
Baths
--
Year built
1957
Sq. Ft.
2,880
Lot Size
2,982
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
8
APN
047-211-20

The source for these homes facts are from public records.

92663 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$4,395,000
Median List Price/Sq.Ft.
$1,522
Median Sold Price
$1,730,000
Median Sold Price/Sq.Ft.
$979
Total Inventory
84
Median Sale to List Price %
100.87%
Avg Days on Market
34
Loan Type
Conventional (23.08%), FHA (0%), VA (0%), Cash (30.77%), Other (46.15%)

Thinking of Selling?

Image Description
Is this your property?
Thinking of Selling?
Call, Text or Message
(714) 706-1823

Homes for Sale Near 1514 W Oceanfront

Nearby Homes for Sale

Open Today 1pm-4pm
1809 W Bay Ave, Newport Beach, CA 92663
$5,295,000
4 Beds
4 Baths
3078 Sq.Ft.
1809 W Bay Ave
Newport Beach, CA 92663
Open Sun 1pm-4pm
3912 River Ave, Newport Beach, CA 92663
$5,495,000
5 Beds
6 Baths
2906 Sq.Ft.
3912 River Ave
Newport Beach, CA 92663
4015 Marcus Ave, Newport Beach, CA 92663
$5,350,000
5 Beds
3 Baths
2608 Sq.Ft.
4015 Marcus Ave
Newport Beach, CA 92663
4015 Marcus Ave, Newport Beach, CA 92663
$5,350,000
10 Beds
6 Baths
2608 Sq.Ft.
4015 Marcus Ave
Newport Beach, CA 92663
506 E Oceanfront, Newport Beach, CA 92661
$6,500,000
7 Beds
5 Baths
3044 Sq.Ft.
506 E Oceanfront
Newport Beach, CA 92661
4800 Seashore Dr, Newport Beach, CA 92663
$5,295,000
6 Beds
2 Baths
2800 Sq.Ft.
4800 Seashore Dr
Newport Beach, CA 92663
124 Turquoise Ave, Newport Beach, CA 92662
$4,850,000
4 Beds
4 Baths
2430 Sq.Ft.
124 Turquoise Ave
Newport Beach, CA 92662
166 Fairview St, Laguna Beach, CA 92651
$5,995,000
5 Beds
4 Baths
2700 Sq.Ft.
166 Fairview St
Laguna Beach, CA 92651
166 Fairview St, Laguna Beach, CA 92651
$5,995,000
5 Beds
4 Baths
2700 Sq.Ft.
166 Fairview St
Laguna Beach, CA 92651
510 Glenneyre St, Laguna Beach, CA 92651
$5,495,000
8 Beds
8 Baths
5038 Sq.Ft.
510 Glenneyre St
Laguna Beach, CA 92651
9602 Alwood Ave, Garden Grove, CA 92841
$4,835,000
22 Beds
16 Baths
12990 Sq.Ft.
9602 Alwood Ave
Garden Grove, CA 92841
208 W Hoover Ave, Orange, CA 92867
$6,390,000
24 Beds
20 Baths
12054 Sq.Ft.
208 W Hoover Ave
Orange, CA 92867

Recently Sold Homes Near 1514 W Oceanfront

1509 W Balboa Blvd, Newport Beach, CA 92663
$1,850,000 Last Sold Price
3 Beds
3 Baths
1491 Sq.Ft.
1509 W Balboa Blvd
Newport Beach, CA 92663
1615 W Balboa Blvd, Newport Beach, CA 92663
$1,790,000 Last Sold Price
5 Beds
3 Baths
1812 Sq.Ft.
1615 W Balboa Blvd
Newport Beach, CA 92663
1616 W Oceanfront, Newport Beach, CA 92663
$6,100,000 Last Sold Price
21 Beds
15 Baths
3564 Sq.Ft.
1616 W Oceanfront
Newport Beach, CA 92663
1624 W Oceanfront, Newport Beach, CA 92663
$5,500,000 Last Sold Price
5 Beds
5 Baths
3039 Sq.Ft.
1624 W Oceanfront
Newport Beach, CA 92663

Related Resources to 1514 W Oceanfront

New Listings in 92663
Popular Zip Codes
Popular Cities
Other Newport Beach Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

Refi Quote