10 Beds
12 Baths
4,760 SqFt
10 Beds
12 Baths
4,760 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,760 sqft
Price per Sqft $1,601
MLS Listing ID OC-26206141
Style Custom Built
Bedrooms 10
Full Baths 10
Half Baths 2
Year Built 2023
Lot Size 4,050 Sqft
Property Sub-Type Duplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
506 was well thought out, offering en-suite bedrooms, inviting fireplaces, and expansive sliding glass doors that create a seamless connection between indoor and outdoor spaces. Private balconies extend from the primary suites and main living areas, while expansive rooftop decks with east and west exposures provide the perfect setting for entertaining, enjoying the ocean breeze, and taking in spectacular coastal sunsets.
Live in one and generate income from the other, maintain a combination of short- and long-term rentals, or operate the property entirely as an investment—the flexibility here is exceptionally difficult to replicate in Newport Beach.
Unit A holds a coveted Newport Beach short-term rental permit and has demonstrated impressive rental performance. From January through May 2026, Unit A generated approximately $150,000 in gross rental revenue. Summer is traditionally an even stronger rental period, with June through August historically generating approximately $28,000 per month in net income.
Unit B is currently leased at $15,000 per month under a two-year lease, providing the property with an established long-term income stream alongside Unit A's short-term rental potential.
For an owner-user, the opportunity is equally compelling: occupy one luxury residence while the neighboring unit produces significant income. For an investor, the combination of an existing long-term lease, an active short-term rental permit, and two nearly new luxury residences creates multiple avenues for income and long-term value.
The location completes the offering. Enjoy immediate access to the best of Newport Beach, from the marina and beaches to the acclaimed shopping and dining of Lido Marina Village, with Balboa Pier, the Balboa Fun Zone, waterfront restaurants, and the energy of the peninsula all just minutes away.
Each residence also features central air and heating, private laundry, and its own two-car tandem garage, providing the conveniences expected from newly constructed luxury coastal residences.
Rare Opportunity!
Location
State CA
County Orange
Area N8 - West Newport - Lido
Interior
Interior Features Built-In Features, High Ceilings, Recessed Lighting, Tandem, Kitchen Open to Family Room, Pots & Pan Drawers, Quartz Counters, Remodeled Kitchen, Self-Closing Cabinet Doors, Self-Closing Drawers
Heating Central
Cooling Central Air
Fireplaces Type Living Room, Master Bedroom, Patio
Laundry Individual Room
Exterior
Exterior Feature Barbeque Private, Lighting, Rain Gutters
Garage Spaces 4.0
Pool None
Community Features Curbs, Dog Park, Fishing, Sidewalks, Storm Drains, Street Lights, Suburban
Utilities Available Sewer Connected, Water Connected, Cable Available, Electricity Connected, Natural Gas Connected, Phone Available
View Y/N Yes
View City Lights, Marina, Ocean
Building
Lot Description Level with Street, 2-5 Units/Acre
Sewer Public Sewer
Others
Virtual Tour https://media.bowmangroupmedia.com/videos/01a0c54e-6b1a-73d1-8547-c6c3db7866e7
Nearby Locations
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Lic# 01770909 | 01834114