204 44th Street, Newport Beach, California 92663, Newport Beach, - bed, bath

home-pic
ACTIVE$6,299,000
204 44th Street, Newport Beach, California 92663
6Beds
6Baths
4,000Sqft
3,049Lot
Year Built
1983
Close
-
List price
$6.3M
Original List price
$7M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC24204441
Home ConditionGood
Features
Good View: Neighborhood
Deck
Patio
ViewNeighborhood

About this home

INVESTOR ALERT**TWO SIDE BY SIDE STAND-ALONE Modern Cape Cod homes with 2 Highly Coveted TRANSFERABLE SHORT TERM RENTAL PERMITS* The wait list on these permits are long. Currently there are over 600 applicants on the list and people have waited for years and may not even get one. We have TWO. There are some areas that are not zoned for short term rentals so if you own in those areas, you will not be able to get a permit. **Main House:** - **Size:** 2,700 sqft - **Layout:** 4 Bedrooms, 4 Bathrooms - **Highlights:** Spacious, open-concept living areas, gourmet kitchen, luxurious primary suite with a private beach view deck. The front house boasts a cool industrial roll-up glass door that opens up the home to your private front patio. **Second House:** - **Size:** 1,300 sqft - **Layout:** 2 Bedrooms + Loft, 2 Bathrooms - **Highlights:** Cozy yet modern design, additional living space ideal for guests or extended family, and a versatile loft area. **Additional Features:** - **Short-Term Rental Permits:** 2 Transferable STR permits. Waits for permits as long as 3 years. - **Parking:** 4-car garage - **Furnishing:** Both homes are fully furnished and move-in ready - **Turnkey Business:** Professionally managed with projected revenue of $275,000 annually - **Custom Local Art:** Walls adorned with unique local artwork included - **Outdoor Gear:** Paddle boards and surf gear included - **Artistic Flair:** Cool custom mural painted by a renowned local artist - **Prime Location:** Steps to the bay for launching your SUPs and just a block from Tower 44 Beach - **Outdoor Amenities:** Private outdoor shower between both homes - **Entertainment Space:** Entertainer's outdoor front patio lounge reminiscent of a beach club vibe in the Hamptons - **Unique Features:** A spiral staircase leads you to the third-floor upper-level bedroom suite with a private bathroom and access to the outdoor deck - **Private Entrances:** Homes have multiple private entrances - **Rental Flexibility:** The homes can be rented individually or as one home for large groups This property is more than just a home; it's a lucrative investment opportunity, professionally managed. An investor packet detailing the breakdown of revenue and expenses is available. Whether you're looking for a luxurious family residence, an income-generating property OR BOTH, 204 44th Street offers unparalleled potential and value.

Nearby schools

8/10
Newport Heights Elementary School
Public,K-61.3mi
9/10
Newport Elementary School
Public,PK-61.4mi
7/10
Horace Ensign Intermediate School
Public,7-81.3mi
7/10
Newport Harbor High School
Public,9-121.4mi
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (24 Listings)
Beds66
50%
Baths64
60%
Square foot4,0002,467
96%
Lot Size3,0492,614
60%
Price$6.3M$3.2M
88%
Price per square foot$1,575$1,404
72%
Built year19831965
88%
HOA
Days on market362181
96%
Condition Rating
Good

The property consists of two homes built in 1983. The listing mentions a 'gourmet kitchen' and 'modern design,' and the images show updated kitchens and bathrooms with modern fixtures and finishes. While not brand new, the property appears to be well-maintained and move-in ready, justifying a 'good' condition score.
Pros & Cons

Pros

Short-Term Rental Permits: The property includes two highly coveted and transferable short-term rental permits, a significant asset given the long waitlists and zoning restrictions in the area.
Income Potential: The property is a turnkey business with a projected annual revenue of $275,000, offering immediate income generation for investors.
Dual Residences: The property features two separate, fully furnished homes (2,700 sqft and 1,300 sqft) providing flexibility for rentals, extended family, or a combination of both.
Prime Location: Located steps from the bay and a block from the beach (Tower 44), offering convenient access to water activities and coastal amenities.
Parking: Includes a 4-car garage, a valuable feature in the Balboa Peninsula area where parking can be limited.

Cons

Price Reduction: The property has experienced a price reduction from $7,000,000 to $6,299,000, which may indicate challenges in the current market or perceived overpricing.
Year Built: Built in 1983, the property may require updates or renovations to appeal to buyers seeking modern amenities and design.
Lot Size: The lot size is 3,049 sqft, which is relatively small. This may limit outdoor space and potential for expansion compared to other properties in the area.

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