Listed by Marie Little, Arbor Real Estate,

4010 River Avenue

Newport Beach, CA, 92663

$7,500,000

$2,678 per ft²
$7,500,000
$2,678 per ft²
Active
Active
 - For Sale
carpenters-square
2,800 ft²
property_type
Multi-family
calendar
Built 1948
THIS FIRST-CLASS LUXURY WATERFRONT VACATION RENTAL GETAWAY IS UNRIVALED AMONGST ITS SHORT-TERM RENTAL COMPETITORS, COMPLETE WITH PRIVATE OVERSIZED DOCK AND A PROVEN EXTRAORDINARILY STEADY FLOW OF YEAR-ROUND INCOME AND NOTHING BUT FIVE-STAR RATINGS FROM GUESTS; TRULY AN INVESTOR'S DREAM! Reissue of 2- COVETED SHORT TERM LODGING PERMITS (STLP) and 1- adjacent MOORING PERMIT transfer are part of this rare offering. The property recently underwent a major renovation throughout, melding today's modern luxuries with a balance of elegance and casual coastal living accommodations that meet demanding expectations of even the most discerning guests. A convenient locale allows easy access to the open harbor for boaters, paddleboarders or kayakers and is just steps or a bike ride away from everything the famed Balboa Peninsula has to offer; the beach for some of the best surf around, beautiful parks, art galleries, upscale boutiques, fine dining and night life, while providing exclusive privacy and tranquility of a quaint residential community living experience. The RARE CORNER LOT leverages E/W exposure into both units, while an adjoining tropical garden extends a greater sense of privacy and space. EACH UNIT FEATURES 3 BRs, 2 BAs, sweeping bay views overlooking the Rivo Alto canal, alfresco dining, natural gas BBQ grill, sunning/lounging/entertainment areas, natural gas firepit, spacious rms. with tasteful and comfortable furnishings, kitchen equipped for a chef, 1 car garage, HVAC system, natural gas fireplace in living room. LOWER UNIT-Sleeps 8- Approx. 1,291 sq.ft., lg. teak-like patio deck leading to private dock. UPPER UNIT-Sleeps 8- Approx. 1,509 sq.ft., lg. cantilevered deck. Occupy 1 unit (full or part-time) and rent the other, or rent both. This amazing owner-operated VRBO STL business was methodically designed and built by the sellers with two goals in mind: 1)to run a successful, efficient, streamlined business that would consistently deliver the finest available in STL, 2) to exceed the average cap rate of their competitors; they achieved both. Neighborhood utilities were recently undergrounded. This meticulously curated and lucrative business investment comes with all furnishings, including operational/replacement items on hand, recreational bay/beach toys, lists of previous guests (many repeats) and bookings for 2023. Read 100s of reviews on VRBO. This unique TURNKEY investment strategy awaits just one fortunate investor; will you be the one?
MLS® ID:
NP21195146
Listed:
8/31/21
Updated:
12/7/22

Interior Features

Kitchen Appliances
Dryer, Washer
Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Washer Hookup, Gas Dryer Hookup, In Garage
Fireplace
Living Room
Cooling
Central Air
Heating
Forced Air

Exterior/Building Features

Lot Size
3,036 ft² lot
Exterior Features
Barbecue, Dock, Lighting, Rain Gutters
Architectural Style
Cape Cod
Lot Details
0-1 Unit/Acre, Corner Lot, Near Park
Sewer
Public Sewer

Other Property Details

Area Name
N8 - West Newport - Lido
Association Amenities
Biking, Curbs, Storm Drain(s), Street Lights, Sidewalks, Water Sports, Park
Garage
Yes
Garage Spaces
2
Parking
Door-Multi, Garage, Garage Door Opener
Parking Total
2.0
View
Y
County
Orange
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2

Property History

Date
Event
Price
Value
9/29/21
Active
-
-
9/14/21
Active Under Contract
-
-
9/13/21
Active
-
-

Courtesy of Arbor Real Estate, Marie Little,
Listing Contact:  

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