219 E Bay AVE, Newport Beach, CA 92661 – NP24048345

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$3,090,000

$3,495,000 11.6%

Est. payment - /mo

2,613 Sqft Lot

Sold on 11/22/2024

219 E Bay AVE Newport Beach, CA 92661

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Jacqui Larson

Broker Associate | License ID: 01407829

+1(760) 585-5437

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Key Details

Sold Price $3,090,000

Property Type Multi-Family

Sub Type Duplex

Listing Status Sold

Purchase Type For Sale

Subdivision Balboa Peninsula (Residential) (Balp)

MLS Listing ID NP24048345

Year Built 1957

Lot Size 2,613 Sqft

Property Description

Beach Duplex with transferrable SHORT-TERM RENTAL LICENSES for both units, located on a CORNER LOT in the quaint and quieter Bay Island area, only part way down the peninsula, and not on busier Balboa Boulevard, making this one of the more desirable areas on the peninsula. This exceptional lot location is offset at the T of Coronado Street with an unobstructed view of the bay - must see view to appreciate! Two levels have two separate home units - the bottom level has 2 bedrooms, 1 bath and large patio facing the bay, and the top level has 3 bedrooms, 2 baths, with a large deck facing the bay. A buyer can inquire with the city about adding a third level for additional ocean views, similar to many neighboring properties, and for the updated ADU - Accessory Dwelling Unit guidelines. This can be a family beach home with 2 units, income property, short-term rental property, or combination. Both units have fireplaces, beautiful open kitchens, parking in the enclosed garage, overhead storage space in garage, and plenty of unmetered on-street parking. The upstairs home has a grand primary bedroom suite, and an additional second stairway and entry door in rear of home. Additional amenities include custom built-in storage throughout, open beam ceilings, and outdoor patios. 219 E Bay Avenue is Southern California beach living at its finest, with the world-famous Newport Beach Harbor one block to the North for boating, sailing, and other water sports, and expansive sandy beaches, just a few houses away to the South, for surfing, beach walks and leisurely days. Many yacht clubs are in Newport Harbor, for terrific social connections, and there are endless restaurant options. This property has been meticulously maintained by the same owners for over 25 years, including a new roof in 2020. Your new home will have all of the advantages of beach living in one of the world's most sought-after locations! (Note that the short-term rental licenses are for 7 occupants in the 3-Bedroom/upstairs unit, and 5 occupants in the 2-Bedroom/downstairs unit, for a total of 12 occupants.)

Location

State CA

County Orange

Area Np - Balboa Peninsula

Interior

Heating Natural Gas, Wall Furnace

Cooling None

Flooring Laminate, Tile

Fireplaces Type Family Room, Masonry

Laundry Common Area, Washer Hookup, Gas Dryer Hookup

Exterior

Garage Door-Multi, Direct Access, Garage, Garage Door Opener, Off Street

Garage Spaces 2.0

Garage Description 2.0

Fence Block

Pool None

Community Features Biking, Fishing, Street Lights, Sidewalks, Water Sports

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

Waterfront Description Beach Access,Ocean Access

View Y/N Yes

View Harbor, Ocean

Building

Lot Description Corner Lot

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash to New Loan, 1031 Exchange

Listing Terms Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Kathy Abbott • Universal Preferred Properties • 714-457-3849
Bought with NONE NONE • None MRML

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Jacqui Larson

Broker Associate | License ID: 01407829

+1(760) 585-5437

219 E Bay AVE Newport Beach, CA 92661

Key Details

Location

Interior

Exterior

Building

Others

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219 E Bay AVE