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$ 3,150,000
Est. payment /mo
Active
205 42nd Street Newport Beach, CA 92663
4 Beds
2 Baths
2,614 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NP26014086
Bedrooms 4
Lot Size 2,614 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Incredible investment opportunity in the heart of Newport Beach. This turnkey duplex includes two Short Term Rental Permits that are transferable to the new owner! The property consists of two separate units and an oversized 4-car garage, assuring you will never be without parking at the beach. Located on the Balboa Peninsula, this duplex is just steps to the sandy beach or a short walk to Channel Park on the bay. Each unit offers 2 bedrooms and 1 bathroom with recently updated kitchens and baths. The upper unit, situated above the garage, enjoys ocean breezes, while the lower unit features a private patio with a fire pit, enhancing guest appeal and rental performance. Both units are fully furnished and equipped with modern conveniences including Smart TVs, on-site washer and dryer, towels, linens and beach gear, allowing for immediate, turnkey operation. The property has an established history as a professionally managed vacation rental with consistent income, making it a strong, proven performer. All finishes, furnishings, and household items are in excellent condition. All appliances new as of 2024 including tankless water heater. Recent improvements including new paint, roof, windows, and additional upgrades minimizing near-term capital expenditures. This is a low-maintenance coastal asset located in one of Newport Beachs strongest rental corridors.
Location
State CA
County Orange
Zoning Assessor
Direction W. Balboa Blvd to 42nd Street
Interior
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 42329608
Acceptable Financing Conventional, Exchange
Listing Terms Conventional, Exchange
Listed by Anna Andrews, DRE#01485699 Compass
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