Property For Sale California,USA
For sale by real estate agent - California
7 bed Property for sale
Oceanfront Triplex on Newport Beach California
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Incredible attention to detail is the only way to describe this unique California Modern Oceanfront Triplex located between the Newport Pier and Balboa Pier in one of Southern California’s most favored stretch of shoreline in the coveted Newport Beach. This meticulously restored and maintained investment property by interior designer Ron Gucciardo comes “fully-furnished” and includes such luxury brand names as Viking, Tommy Bahama, and Calvin Klein. Enjoy living in one of these luxurious units and renting out the other 2 units. Stunning unobstructed Pacific Ocean, Catalina, and Sunset views from the 2 front units.
Unit A (the Avalon Unit) is one of 2 oceanfront units, covering the entire ground floor with a walled and gated patio right on the Boardwalk. Patio includes premium outdoor furniture, offset umbrella and Viking BBQ gas grill. This luxurious 3 bedroom and 2 bathroom unit, which sleeps 8, features a full-sized gourmet kitchen with granite countertops and backsplash and stainless steel commercial appliances, anchored by a beautiful Viking stove with built-in griddle and decorative range hood. This sizable unit also has Italian porcelain floor tile, a brick fireplace and a true Master Suite with luxurious en-suite bathroom, featuring a glass shower, custom tile and marble, a dual vanity and a Jacuzzi DuettaTM air tub.
Unit B (the Balboa unit ) is the upstairs oceanfront unit, which sleeps 6, with 2 bedrooms and 2 full bathrooms. This gorgeous unit also has an open gourmet kitchen overlooking the Pacific Ocean with granite countertops and back splash, and another beautiful Viking Stove. In addition to having Italian porcelain floor title, vaulted natural wood ceilings, and a brick fireplace, this special unit also features a balcony overlooking the Newport Boardwalk with an unobstructed panoramic ocean view.
Unit C (the Catalina Unit, also referred to as the Captain’s Quarters) is the rear upstairs unit, which sleeps 7, with 2 bedrooms and 2 full bathrooms and ocean and Catalina views from the Living Room. This lovely unit also features Italian porcelain floor tile, beautiful vaulted natural wood ceilings, a full kitchen, and a gorgeous iron dining room chandelier.
Stackable washers and dryers are included in each unit and the immaculate 3 car garage contains a separate laundry room to handle weekly or monthly turnover of rental units. The garage also houses 3 Noritz tankless water heaters, one for each unit, as well as a Life Source Water Filtration System to provide filtered water for the entire property. Finally, each unit also comes with a Viking Stainless Steel Barbeque for outdoor use.
Just minutes from the Balboa Island Ferry, Fun Zone, the Wedge and world-class shopping and dining. Also located steps away from public parking to accommodate guests. The property is situated on a corner lot, with easy access to and from the property on a wide access walkway.
Pro-forma gross income of $431K for all 3 units and net operating income of $251K (4.28% cap rate).