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422 E Bay Avenue

Newport Beach, CA 92661
  • $3,400,000
  • STATUS: Active Under Contract
  • ON SITE: 92 Days
  • ID#: NP24052384
Under Contract
UPDATED: 127 min ago
$3,400,000
  • 0
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
2024
County:

School Ratings & Info

Listing Agent(s): Jodi Ditolla of DiTolla Real Estate (949-228-7263)


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 opportunity for any discerning buyer or investor.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
www.playavistaliving.com/homes/148600762
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422 E Bay Avenue Newport Beach, CA 92661

  • Price: $3,400,000
  • Status: Active Under Contract
  • On Site: 92 Days
  • Updated: 127 min ago
  • ID#: NP24052384
0
Beds
0
Baths
0
½ Baths
0.06
Acres
2024
Built
Neighborhood:
Balboa Peninsula (Residential) (Balp)
County:
Orange
Area:
NP - Balboa Peninsula
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 opportunity for any discerning buyer or investor.
Exterior Features

Architectural Style Cape CodContemporary Construction Materials Fiber Cement Entry Level 1 Entry Location Bay Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 1 Parking Features Door-MultiDirect AccessElectric Vehicle Charging Station(s)GarageOversizedGarage Faces Rear Parking Total 2 Pool Features None Pool Private YN No Property Attached YN No View Coastline View YN Yes

Interior Features

Common Walls No Common Walls Cooling Central Air Cooling YN Yes Fireplace Features Great RoomPrimary Bedroom Fireplace YN Yes Interior Features All Bedrooms UpJack and Jill BathPrimary SuiteWalk-In Closet(s)

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features BikingStorm Drain(s)Street LightsSidewalksWater Sports Contingency Loan Only Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Land Lease YN No Laundry Features InsideLaundry Room Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventionalCal Vet Loan1031 Exchange Net Operating Income 0 New Construction YN Yes Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 0 Property Sub Type Single Family Residence Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Utilities Cable AvailableElectricity AvailableNatural Gas AvailablePhone AvailableWater Available Water Sewer Expense 0 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Jodi Ditolla of DiTolla Real Estate (949-228-7263)