Newport Beach, CA 92661,422 E Bay Avenue
Newport Beach, CA 92661,422 E Bay Avenue
Newport Beach, CA 92661,422 E Bay Avenue
10
$3,100,000
$3,400,000
8.8%
Est.Price: ?

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5 BD
6 BA
2,411 Sqft Lot

422 E Bay Avenue Newport Beach, CA 92661

Est. payment /mo
SOLD DATE : 07/01/2024

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Key Details

Sold Price $3,100,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID NP24052384

Bedrooms 5

Lot Size 2,411 Sqft

Property Description

READY TO BUILD with APPROVED PLANS and a SHORT TERM RENTAL PERMIT. This is your opportunity to build a custom home on the iconic Balboa Peninsula, just steps from the bay and a short walk to the beach, the Balboa Pier, Balboa Island Ferry, Fun Zone and the infamous Wedge. Plans for this 3-level home boast a pristine design with an open concept floor plan and an elevator to all three levels. The main level features a chefs kitchen with a large island and bar seating that opens to an airy and light-filled living area. Adjacent to the kitchen is an outdoor courtyard separated only by glass doors allowing the ultimate indoor/outdoor living with room for a fire pit, grill or seating for entertaining guests. On the second level, a sleek primary suite includes a luxurious spa bathroom with dual vanities, large soaking tub and oversized walk-in shower. The primary suite also features a private balcony and a spacious walk-in closet. There are three secondary bedrooms on the second floor and an additional bedroom with full bath on the third level. The magnificent 1,000+ sq. ft. rooftop terrace is truly an entertainer's dream with its multiple covered and uncovered lounging areas, and plans for an outdoor kitchen, fire pit and hot tub. The oversized 2-car garage will be outfitted with a charging port for an electric vehicle and there is ample room for storage cabinets and bikes. The highly sought after short term rental permit is transferred to the buyer with the sale of the property, which will significantly increase the propertys rental income. This rare offering is a great opportun
READY TO BUILD with APPROVED PLANS and a SHORT TERM RENTAL PERMIT. This is your opportunity to build a custom home on the iconic Balboa Peninsula, just steps from the bay and a short walk to the beach, the Balboa Pier, Balboa Island Ferry, Fun Zone and the infamous Wedge. Plans for this 3-level home boast a pristine design with an open concept floor plan and an elevator to all three levels. The main level features a chefs kitchen with a large island and bar seating that opens to an airy and light-filled living area. Adjacent to the kitchen is an outdoor courtyard separated only by glass doors allowing the ultimate indoor/outdoor living with room for a fire pit, grill or seating for entertaining guests. On the second level, a sleek primary suite includes a luxurious spa bathroom with dual vanities, large soaking tub and oversized walk-in shower. The primary suite also features a private balcony and a spacious walk-in closet. There are three secondary bedrooms on the second floor and an additional bedroom with full bath on the third level. The magnificent 1,000+ sq. ft. rooftop terrace is truly an entertainer's dream with its multiple covered and uncovered lounging areas, and plans for an outdoor kitchen, fire pit and hot tub. The oversized 2-car garage will be outfitted with a charging port for an electric vehicle and there is ample room for storage cabinets and bikes. The highly sought after short term rental permit is transferred to the buyer with the sale of the property, which will significantly increase the propertys rental income. This rare offering is a great opportunity for any discerning buyer or investor.

Location

State CA

County Orange

Area Oc - Newport Beach (92661)

Zoning Estimated

Interior

Cooling Central Forced Air

Building

Lot Description Sidewalks

Story 3

Others

Monthly Total Fees $31

Acceptable Financing Cal Vet, Cash, Conventional, Exchange

Listing Terms Cal Vet, Cash, Conventional, Exchange

Read Less


San Diego Regional MLS (SDMLS)
Listed by Jodi DiTolla • DiTolla Real Estate
Bought with Gabriel McKnight • KW The Lakes

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Dave Dennis

Agent | License ID: 01343870

+1(619) 987-9484

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