Listed by Bob Kurz, Re/Max Olympic,

128 39th Street

Newport Beach, CA, 92663

$3,500,000

$1,521 per ft²
$3,500,000
$1,521 per ft²
Active
Active
 - For Sale
carpenters-square
2,300 ft²
property_type
Multi-family
calendar
Built 1930
Cash Cow. Rare Short Term Rental Permits. Newport’s unofficial “fun zone”. Next to beach, close go restaurants, stores, and bars…Truly remarkable duplex w/Great rate of return on investment because of the Newport Beach City Approved "Short-Term Permits!" allowing this property to enjoy the premium income of Newport Beach Summer Weekend and Weekly premium rental rates. Of the nearly 50,000 housing units in Newport Beach, this property comes with two of the only ±1,550 short-term rental permits allowing investors to benefit from the annual 6.9 million visitors to NB, each year. This area is renown for having a proven yearly flow of summertime beach travel and demand continues in current rental history as heading to the beach is always popular... Located a few houses to beach in arguably the premier area for Newport Beach rentals; close to the pier, restaurants, bars, and fun activities but far enough away to avoid the major congestion. Currently, owner is averaging about $40,000+ per month in summer rental income and over 90% occupancy rates during available times with bookings. There were recent updates to the interior and exterior of both of the homes & all new furniture throughout both units and patios is included as part of rental package income. Some of these many Recent upgrades just completed: Professionally Textured & Painted Ceilings/Walls (eggshell), w/White semi gloss trim & Newer plank-style flooring Plus Many New Light fixtures and Ceiling Fans. Architecturally appealing both condo have that, "open floorplan concept", flowing from, outdoor Patio's to entry's of each into an Extra Large Living room's in both condo's, and each condos living rooms Opens wide into nicely upgraded Big Kitchen's as you expect to find in a condo with a nice spacious Open Floor-plan lay-out. Beachfront Downstairs condo layout listed as: 3 Br, 1 full Ba. + 3/4 Ba, + 1/2 Ba. lives as: A 2 bedroom, 1.5 bath front 1930's Original with hints of it's "Vintage Charm complete with 1930 outdoor beach living patio". Plus a newer more recently built larger part of second unit & garages & includes a bottom "Motel Type room." This Motel room is built w/Complete In-Suite 3/4 bathroom & window & is located downstairs behind the 2 units laundry room & includes current washer & dryer rental system. Newer section Rooftop Patio serves as your upstairs condo's very private fully furnished outdoor living patio, great for entertaining, cool ocean breezes & it's just steps to the sand...
MLS® ID:
PW22205065
Listed:
9/18/22
Updated:
12/1/22

Interior Features

Kitchen Appliances
Dryer, Washer
Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Laundry Room, See Remarks
Fireplace
None
Cooling
None
Heating
Central

Exterior/Building Features

Lot Size
2,178 ft² lot
Lot Details
Walkstreet
Sewer
Public Sewer

Other Property Details

Area Name
N8 - West Newport - Lido
HOA Amenities
Street Lights, Urban
Garage
Yes
Garage Spaces
3
Parking
Y
Parking Total
3.0
View
Y
County
Orange
Water Source
Public
Pool
No
Pool Description
None
Total Stories
1

Property History

Date
Event
Price
Value
10/26/22
Active
-
-
10/16/22
Pending
-
-

Courtesy of Re/Max Olympic, Bob Kurz,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/1/22. 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.

©2022 California Regional Multiple Listing Service. All rights reserved.

Data last updated 8:51 AM UTC, 12/1/22

Contact