Sold
505 38th Street
Newport Beach CA, 92663
$2,400,000
$1,628.22 per sqft
Sold
1,474 sqft
Multi-family
Built in 1940
Listed by Jennifer Stock with Compass 949-438-4340
Opportunities abound with this charming bungalow-style Duplex on Newport Island. This is a great opportunity for an owner-user to live in this amazing neighborhood while, at the same time, generating monthly income. These units would make for fabulous long-term rentals as tenant demand is very strong on the island due to the location and the uniqueness of the neighborhood.
Also, this could be a phenomenal opportunity for someone who would like to start fresh and build their dream home in one of Newport Beach's most coveted neighborhoods. The new construction possibilities include a single-family residence with an ADU, a duplex or possibly even two condos. Per the city, total allowable build up to 3,840 sq. ft. including garages.
Both units have two bedrooms and one bathroom and they share a two car garage and a laundry. The charming front unit is on the ground level with no steps and move-in ready. Tenants enjoy a sizable front patio for outdoor dining & relaxing, a quaint living space with wood-like floors, wainscotting, a dining room and an updated kitchen. The back unit, which is located over the garage, is just as charming with a lanai, perfect for morning coffee, a Dutch door and ample living space.
Situated on one of the eight islands in Newport Harbor, this neighborhood is about as special as you can get. Residents enjoy a gorgeous waterfront park equipped with a playground, a half basketball court, grill area and a baby beach that overlooks the channel. On any given day, you will find islanders launching paddle boards and kayaks from the baby beach as well as from various inlets around the neighborhood. Some residents lease moorings from the City of Newport Beach, which are located around the island. It's a quick walk across the bridge and down two blocks to the locals' favorite beach and surf spot. This is a community that enjoys getting together. Residents gather for parties in the park, for just about every major holiday and several times throughout the summer. Newport Island looks and feels very much like a private community but, in fact, it's not. There are no monthly HOA dues.
In addition to the island, enjoy all that Newport Beach has to offer. Walk to several other nearby parks or bike to the Newport Beach Pier, Marina Park and The Balboa Fun Zone. Stroll the Peninsula and Lido Village for all of the fabulous shopping and dining establishments.
NP23022962
MLSⓇ ID
February 8, 2023
Listed
March 23, 2024
Updated
Map
505 38th Street
Newport Beach CA, 92663
Interior Features
Interior Features
Paneling/Wainscoting, Unfurnished, Main Level Primary
Appliances
Gas Oven, Gas Range, Dryer, Washer
Laundry Description
Common Area
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.06 Acres
Lot Features
Near Park, Rectangular Lot
Architectual Style
Bungalow
Roof
Composition
Sewer
Public Sewer
Other Property Details
Area Name
N8 - West Newport - Lido
Days on Market
13
Garage
Yes
Garage Spaces
2
Parking
Door-Multi, Garage
Parking Total
2
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
5/18/2023 | Sold | $2,400,000 |
4/26/2023 | Price Change | $2,400,000 0% |
4/26/2023 | Unknown | — |
4/24/2023 | Pending | — |
4/13/2023 | Under Contract | — |
Listing Contact: 949-438-4340
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 3/23/2024 at 1:16 AM UTC