1811 W Bay Avenue, Newport Beach, California 92663, Newport Beach, - bed, bath

home-pic
ACTIVE$4,200,000
1811 W Bay Avenue, Newport Beach, California 92663
0Bed
0Bath
3,092Sqft
3,250Lot
Year Built
1968
Close
-
List price
$4.2M
Original List price
$4.89M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NP24123545
Home ConditionFair
Features
Good View: Bay, Back Bay, City Lights, Harbor, Marina, Water
Patio
ViewBay,Back Bay,City Lights,Harbor,Marina,Water

About this home

Welcome to 1811 W. Bay Ave, a rare bayfront duplex with a prime location directly in front of the tranquil sandy bay beach of picturesque Marina Park. This 6-bedroom, 4-bathroom property offers approximately 3,000 square feet of living space and includes a 4-car garage, presenting an incredible opportunity to create your ideal bayfront dream. Owned by the same family for over 60 years, this property is ready for your vision. Options abound: Investors: Rent out the existing two 3-bedroom, 2-bath units to maximize income, with combined rents approximated at $15,000/month in its current condition and with a little refresh, much more. Homeowners: Live in one unit and rent out the other, or transform the property into your very own bayfront home with additional income. Developers: Explore a condo conversion opportunity to create two separate residences. Short-term lodging is permissible (subject to permitting), adding flexibility to your investment. For those considering a 1031 exchange, this is an ideal candidate. BONUS OPPORTUNITY: The neighboring duplex at 1809 W. Bay is also available for sale, offering an exceptionally rare chance to own two side-by-side bayfront properties. Don’t miss this unique chance to secure a premier bayfront location with unlimited potential. Your coastal dream awaits!

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (24 Listings)
Beds06
Baths04
Square foot3,0922,467
88%
Lot Size3,2502,614
80%
Price$4.2M$3.2M
88%
Price per square foot$1,358$1,397
48%
Built year19681965
52%
HOA
Days on market504181
96%
Condition Rating
Fair

The property was built in 1968 and appears to have had some updates, but the kitchens and bathrooms are outdated. The appliances are older, and the overall style is dated. While the property seems maintained, it requires updates to meet modern standards. The carpets and flooring also appear worn in places.
Pros & Cons

Pros

Prime Bayfront Location: Directly fronts the sandy bay beach of Marina Park, offering unparalleled access and views.
Income Potential: Duplex configuration allows for immediate rental income, with potential for significant increase after renovations.
Development Opportunities: Suitable for various strategies including condo conversion, single-family transformation, or short-term lodging (subject to permits).
Large 4-Car Garage: Provides ample parking and storage space, a valuable asset in this area.
View: Offers views of the Bay, Back Bay, City Lights, Harbor, Marina, and Water.

Cons

Dated Condition: Owned by the same family for 60+ years, the property likely requires significant updating and renovations.
Price Reduction: The property has already undergone a price reduction, which may indicate challenges in the market or perceived value.
Age: Built in 1968, the property may have outdated systems and require upgrades to meet current building codes and standards.

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