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TWO SHORT TERM PERMITS - 2023 Revenue - Real numbers generated = $275,000. Seller will do a "2/1" buydown- buy down the buyers rate 2% for the first year, and 1% the second year.This property was designed and built specifically as a short-term rental property maximizing on room count and rentability. Recently constructed Eight (8) full siize bedrooms, 5 full baths and 2 half bath Newport Beach Balboa Peninsula Duplex Home- complete with TWO (2) SHORT TERM LODGING (RENTAL) PERMITS. This is an investors’ dream as the property has been recently completed and fully operational with proven substantial rental income. The units consist of a 5-bedroom 3.5 bath rear unit beautiful kitchen and appliances and sitting room with a huge oversized indoor/outdoor great room. The upstairs primary bedroom has a large walk-in closet and large private deck with ocean breezes and city light views. The front unit consists of 3 bedrooms and 2.5 baths with a great front porch. The entire property has independent air conditioning and independent heating zones for every room. Amazing parking for four cars; a full size, side-by-side two car garage and an additional two car covered car port. This is an incredible location surrounded by Lido Village, the Newport Beach Bayfront, and is just a stroll across the street to the most beautiful beaches in Newport. Lido Marina Village has recently gone through an incredible makeover and offers the best restaurant and shopping Newport Beach has to offer. Along with direct access to Lido and the beaches, you are located just off Pacific Coast Highway and direct access to the freeways.
Property Type(s):
Residential Income
| Last Updated | 9/27/2024 | Tract | Balboa Peninsula (Residential) (BALP) |
|---|---|---|---|
| Year Built | 2020 | Community | West Newport - Lido |
| Garage Spaces | 2.0 | County | Orange |
Price History
| Prior to Sep 27, '24 | $5,400,000 |
|---|---|
| Sep 27, '24 - Today | $4,995,000 |
Additional Details
| AIR | Electric, Zoned |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Built-In Range, Dishwasher, Disposal, Gas Range, Microwave, Range Hood, Refrigerator, Tankless Water Heater, Vented Exhaust Fan |
| AREA | West Newport - Lido |
| GARAGE | Direct Access, Garage, Yes |
| HEAT | Forced Air |
| INTERIOR | All Bedrooms Up, Balcony, Built-in Features, Ceiling Fan(s), Furnished, Galley Kitchen, Recessed Lighting, Stone Counters, Walk-In Closet(s) |
| LOT | 2352 sq ft |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| PARKING | Direct Access,Garage |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Contemporary |
| SUBDIVISION | Balboa Peninsula (Residential) (BALP) |
| UTILITIES | Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights |
| WATER | Public |
Location
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Listed with Surterre Properties Inc.
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