4802 Neptune Ave, Newport Beach, CA 92663
- $4,050,000
- 6
- BD
- 4
- BA
- 2,304
- SqFt
- List Price
- $4,050,000
- Status
- ACTIVE
- MLS#
- LG26176637
- Year Built
- 1962
- Bedrooms
- 6
- Bathrooms
- 4
- Living Sq. Ft
- 2,304
- Lot Size
- 3,358
- Acres
- 0.08
- Lot Location
- 2-5 Units/Acre
- Days on Market
- 22
- Property Type
- Single Family Residential
- Style
- Contemporary
- Property Sub Type
- Duplex
- Stories
- Two Levels
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property 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.
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Additional Information
- Appliances
- Built-In Range, Dishwasher, Disposal
- Pool Description
- None
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- Ocean, Peek-A-Boo
- Patio
- Brick, Concrete
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- School District
- Newport Mesa Unified
- Interior Features
- Balcony, Block Walls, Ceiling Fan(s), Granite Counters, Living Room Deck Attached, Open Floorplan, Recessed Lighting, Entrance Foyer
- Attached Structure
- Attached
- Number Of Units Total
- 2
Listing courtesy of Listing Agent: Brendan Horgan (brendansean1111@gmail.com) from Listing Office: MEEHAN ESTATES, INC..
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.