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906 E Oceanfront, Newport Beach, CA 92661
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906 E Oceanfront Newport Beach, CA 92661

$4,350,000 Sold Price as of 07/02/2019
  • 8 Beds
  • 6 Baths
  • 3,255 Sq.Ft.
Sold
$4,350,000 Sold Price as of 07/02/2019 Refinance Your Mortgage
Map preview of 906 E Oceanfront, Newport Beach, CA 92661

Property Overview: 906 E Oceanfront Newport Beach, CA has 8 bedrooms, 6 bathrooms, 3,255 living square feet and 3,920 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This way to the beach...906 E. Oceanfront is one of the few legal triplexes on the Peninsula and is conveniently located on the boardwalk across from Balboa Peninsula Park and the nearby Balboa Pier. This clean, upgraded and remodeled building includes a great unit mix of two large 3 bedroom/2 bath units and one 2 bedroom/2 bath unit. Two units have direct ocean, beach, sunset, pier and boardwalk views. The lot is an oversized 3,920 sqft (per assessor) that can offer exciting future redevelopment opportunities, buyer to verify options with the city. For the first time in the building’s history, it was effectively run as a licensed short term rental and generated nearly $200,000 in income for the year. The conservative annual pro forma income is $225,000+. Over $50,000 is already booked for the summer 2019 season. Now that this asset is stabilized and income is growing, it’s perfect for the investor looking to simply cash checks and maybe occasionally visit and stay in a premier oceanfront location. The building also features a shared interior courtyard plus a front patio abutting the boardwalk. The alleyway provides access to a huge 3 car garage with laundry area and ample storage space. All units are separately metered for gas and electric. All furniture and household goods are included in the sale.

Listed by Christian Walsh | BRE #01804983 | Coldwell Banker Res. Brokerage
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
3,920
HOA Dues
$0/mo
Year built
1971
Garage
3 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW19029273
City
Newport Beach
County
Orange
Time on Site
1509 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: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $5,343
  • Total Rent: $5,343
  • Pro Forma/Market Rent: $6,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $5,343
  • Total Rent: $5,343
  • Pro Forma/Market Rent: $6,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Furnished
  • Actual Rent: $5,343
  • Total Rent: $5,343
  • Pro Forma/Market Rent: $6,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $192,357
  • Net Operating Income: $102,403
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $89,954
  • Electric: $2,400
  • Gas/Fuel: $1,500
  • Licenses: $500
  • New Taxes: $47,277
  • Trash: $0
  • Cable TV: $4,176
  • Gardener: $0
  • Insurance: $1,734
  • Maintenance: $11,334
  • Professional Management: $20,479
  • Water/Sewer: $554

Property Details for 906 E Oceanfront

Interior Features
Laundry Information
  • Has Laundry
  • In Garage
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 3
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: No Landscaping
  • Lot Size Source: Assessor
Property Information
  • Has View
  • View: Catalina, Coastline, Ocean, Panoramic, Park/Greenbelt, Water
  • Common Walls: 2+ Common Walls
  • Total # of Units: 3
  • Parcel Number: 04814332
  • Year Built Source: Assessor
  • Property is Attached
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Balboa Peninsula (Residential) (BALP)
  • Directions: A street /Oceanfront
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Newport Beach Agent

Sale History for 906 E Oceanfront

Last sold for $4,350,000 on July 2nd, 2019

  • July, 2019

  • Jul 3, 2019

    Date

    Sold

    CRMLS: PW19029273

    $4,350,000

    Price

  • Mar 7, 2019

    Date

    Active Under Contract

    CRMLS: PW19029273

    $4,499,000

    Price

  • Feb 8, 2019

    Date

    Active

    CRMLS: PW19029273

    $4,499,000

    Price

  • July, 2019

  • Jul 2, 2019

    Date

    Sold (Public Records)

    Public Records

    $4,350,000

    Price

  • March, 2018

  • Mar 15, 2018

    Date

    Sold (Public Records)

    Public Records

    $3,500,000

    Price

  • November, 2017

  • Nov 30, 2017

    Date

    Canceled

    CRMLS: OC17117276

    $3,950,000

    Price

  • Nov 11, 2017

    Date

    Hold

    CRMLS: OC17117276

    $3,950,000

    Price

  • Oct 11, 2017

    Date

    Price Change

    CRMLS: OC17117276

    $3,950,000

    Price

  • Aug 19, 2017

    Date

    Price Change

    CRMLS: OC17117276

    $4,050,000

    Price

  • May 30, 2017

    Date

    Price Change

    CRMLS: OC17117276

    $4,200,000

    Price

  • May 30, 2017

    Date

    Price Change

    CRMLS: OC17117276

    $4,150,000

    Price

  • May 26, 2017

    Date

    Active

    CRMLS: OC17117276

    $3,900,000

    Price

  • Listing provided courtesy of CRMLS

    Beautifully remodeled oceanfront triplex! White water, Ocean, Catalina Island views, spectacular sunset views. This property consists of three units with a total of 8 bedrooms and 5 baths, of 3200 total square feet on an oversized lot on the beach. Each unit shows like a dream with an open layout, neutral color palate and dedicated outdoor spaces with direct beach and ocean views, and mere steps from the beach. Amazing indoor/outdoor flow with sliding glass doors throughout, fireplaces for cozy evenings, spacious bedrooms and stylishly efficient kitchens with breakfast bar overlooking the dining area and sleek stainless appliances. There is plenty of potential for investors or a family looking to live in one and rent the two others for added income. Easy access to Marina Park, miles of great surfing beaches, bike trails, restaurants and shopping. Close to world famous surf spot, the Wedge, and one block from the Bay, Balboa and Balboa Island. This is a fantastic chance to own a vacation investment property at an excellent location.

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Tax History for 906 E Oceanfront

Assessed Value (2020): $3,555,027
Year Land Value Improved Value Assessed Value
2020 $3,412,826 $142,201 $3,555,027

Home Value Compared to the Market

This property vs the competition

906 E Oceanfront sold on July 2, 2019 for 63.6% higher than the current median sold price for the city of Newport Beach which is $2,750,000. The median sold price per/sqft for Newport Beach is $1,406 and this home is sold at $1382.18 per/sqft which puts the price per square foot 1.69% lower than the current median sale per square foot for the city of Newport Beach.

About 906 E Oceanfront

Detailed summary of property

906 E Oceanfront is a multi family that recently sold in Newport Beach, CA 92661. This multi family property offered 8 bedrooms, 6 bathrooms, roughly 3,255 living square feet, and sits on an approximately 3,920 square foot lot. 906 E Oceanfront was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $4,350,000. Home in Newport Beach are selling for a median price of $2,750,000 and a median price per square foot of $1,406. Based on Ardent Real Estate Group's Newport Beach Market Data, this home is sold 63.6% higher than the current median priced home. Local homes that are currently for sale include 1811 W Bay Ave, 1811 W Bay Ave and 507 29th St. While the average home in Newport Beach, CA is selling in 97 days, 906 E Oceanfront has a days on market of 22 days. There are currently 273 homes for sale in the Newport Beach real estate market and 200 of them are single family homes while 56 of them are condos and 17 are townhomes. For more information on this home for sale at 906 E 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 906 E Oceanfront

Public county record property details
Beds
--
Baths
--
Year built
1971
Sq. Ft.
3,255
Lot Size
3,512
Stories
2
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Orange
Lot#
18
APN
048-143-32

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
$6,975,000
Median List Price/Sq.Ft.
$2,293
Median Sold Price
$3,400,000
Median Sold Price/Sq.Ft.
$1,656
Total Inventory
40
Median Sale to List Price %
85.11%
Avg Days on Market
50
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (66.67%), Other (33.33%)

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Recently Sold Homes Near 906 E Oceanfront

900 E Oceanfront, Newport Beach, CA 92661
$6,648,335 Last Sold Price
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12 Baths
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900 E Oceanfront
Newport Beach, CA 92661
905 E Balboa Blvd, Newport Beach, CA 92661
$2,291,250 Last Sold Price
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905 E Balboa Blvd
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901 E Balboa Blvd, Newport Beach, CA 92661
$3,175,000 Last Sold Price
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5 Baths
3482 Sq.Ft.
901 E Balboa Blvd
Newport Beach, CA 92661
916 E Oceanfront, Newport Beach, CA 92661
$3,900,000 Last Sold Price
5 Beds
4 Baths
2501 Sq.Ft.
916 E Oceanfront
Newport Beach, CA 92661

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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.

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