4802 Neptune Ave,Newport Beach, CA 92663
Newport Beach, CA 92663
Description
**Investment Property Opportunity with Value-Added Potential** This property is currently appraised at $4,050,000 (MAI Appraisal). As a short-term rental, the estimated value increases to $4,555,000. Additionally, the large lot has the potential for constructing an Accessory Dwelling Unit (ADU) in the back, which could push the total value of the property to well over $6,000,000. You won't find other properties on the Peninsula that offer this type of opportunity. This rare investment is just steps from the beach, located in one of Newport Beach's most desirable coastal communities. It features a two-car garage and offers peak ocean views from the balcony. The property is conveniently situated just a quick drive from all that Orange County has to offer, including: - Pelican Hill Golf and Resort (10 minutes) - John Wayne Airport (10 minutes) - Angel Stadium & Honda Center (15 minutes) - Disneyland (20 minutes) - Knotts Berry Farm (20 minutes) - Laguna Beach (15 minutes) - Huntington Beach Pier (5 minutes) - Newport Harbor Fun Zone (3 minutes) - Fashion Island (5 minutes) - Segerstrom Hall & South Coast Plaza (15 minutes) Furthermore, this property presents an excellent opportunity for use as a primary residence. The upstairs can serve as a living space while the lower unit can be rented out as an income-producing property. Both units are currently rented on a month-to-month basis. Please contact the agent for showings.
Details
| MLS # | LG26176637 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 32 |
| Listing Provided By | MEEHAN ESTATES, INC. | Brendan Horgan |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,304 |
| Garage | 2 |
| Story(s) | 2 |
| Units | 2 |
| Acreage | 0.08 |
| Water Front | Yes |
| Property View | Yes |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Balcony, Block Walls, Ceiling Fans, Granite Counters, Living Room Deck Attached, Open Floorplan, Recessed Lighting, Entrance Foyer |
| Window Features | Blinds, Bay Windows |
| Appliances | Built In Range, Dishwasher, Disposal |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Two To Five Units Acre |
|---|---|
| Fencing | Block, Wood |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Door Single, Driveway, Garage Faces Front, Garage |
| Garage Yes / No | Yes |
Utilities
| Electric | Volts220For Spa |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Street Lights, Suburban, Water Sports |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Newport Beach |
| Zip Code | 92663 |
| Area | NP Balboa Peninsula |
| Community Name | Balboa Peninsula (Residential) (BALP) |
| Listing VS Median (in Balboa Peninsula (Residential) (BALP)) | |
Price: $4,050,000 low | high Med: $1,234,500 sqft: 2,304 low | high Med: 1,876 $ / sqft: $1,758 low | high Med: $905 On site: 32 low | high Med: 234.5 | |
Market Activity 92663
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Newport Beach |
| Zip Code | 92663 |
| Area | NP Balboa Peninsula |
| Community Name | Balboa Peninsula (Residential) (BALP) |
| Listing VS Median (in Balboa Peninsula (Residential) (BALP)) | |
Price: $4,050,000 low | high Med: $1,234,500 sqft: 2,304 low | high Med: 1,876 $ / sqft: $1,758 low | high Med: $905 On site: 32 low | high Med: 234.5 | |
