4802 Neptune Ave Newport Beach, CA 92663
6 Beds
4 Baths
2,304 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,304 sqft
Price per Sqft $1,757
MLS Listing ID LG-26176637
Style Contemporary
Bedrooms 6
Full Baths 4
Year Built 1962
Lot Size 3,358 Sqft
Property Sub-Type Duplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This property is one of the few oversized lots in the area, offering significant potential for value enhancement. The backyard has ample space to add an additional accessory dwelling unit (ADU). Another option is to redevelop the site to build several new units, both of which could effectively maximize the potential of this large lot.
Furthermore, the property presents an excellent opportunity for use as a primary residence. The upstairs can be used as a primary living space while renting out the lower unit as an income-producing property. Each of these options offers considerable value addition, whichever route you choose to pursue. These property features will allow for an effective and stable exit strategy in the future.
Additionally, the home features a two-car attached garage and offers a peak ocean view from the patio. Conveniently located one street back from the beach, it is just a leisurely walk to Marina Village, fine dining, shops, and the harbor. This is an amazing opportunity for both short- and long-term income investors.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Interior
Interior Features Balcony, Block Walls, Ceiling Fan(s), Granite Counters, Living Room Deck Attached, Open Floorplan, Recessed Lighting
Heating Central
Cooling Central Air
Fireplaces Type None
Laundry Inside
Exterior
Parking Features Driveway
Garage Spaces 2.0
Pool None
Community Features Street Lights, Suburban, Watersports
View Y/N Yes
View Ocean, Peek-A-Boo, White Water
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer