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$2,325,000
Est. payment /mo
2,374 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26082672
HOA Y/N No
Year Built 1952
Annual Tax Amount $26,250
Lot Size 2,374 Sqft
Property Sub-Type Duplex
Property Description
Pleased to present 207 38th Street, a rare coastal investment opportunity located just steps from the beach in one of Newport Beach's most sought-after neighborhoods. Situated on a ±2,375 square foot lot, the property offers a unique combination of in-place income and significant upside potential, making it well-suited for investors, developers, or owner-users.
The property consists of two 1-bedroom, 1-bathroom units, each approximately ±500 square feet. The front unit is currently vacant, providing immediate flexibility for renovation or occupancy, while the rear unit is leased on a month-to-month basis, allowing for optionality in repositioning or redevelopment timing.
Built in 1952, the existing improvements present an opportunity for a buyer to execute a comprehensive renovation program to create high-end coastal rentals, or to redevelop the site into a new custom residence or luxury multifamily property, subject to city approvals. With its premier beach-close location, walkability to local amenities, and strong underlying land value, 207 38th Street represents a compelling opportunity to capitalize on one of the most desirable coastal markets in Southern California.
The property consists of two 1-bedroom, 1-bathroom units, each approximately ±500 square feet. The front unit is currently vacant, providing immediate flexibility for renovation or occupancy, while the rear unit is leased on a month-to-month basis, allowing for optionality in repositioning or redevelopment timing.
Built in 1952, the existing improvements present an opportunity for a buyer to execute a comprehensive renovation program to create high-end coastal rentals, or to redevelop the site into a new custom residence or luxury multifamily property, subject to city approvals. With its premier beach-close location, walkability to local amenities, and strong underlying land value, 207 38th Street represents a compelling opportunity to capitalize on one of the most desirable coastal markets in Southern California.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Exterior
Carport Spaces 2
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 2
Private Pool No
Building
Lot Description Rectangular Lot
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 42330810
Energy Description 900.0
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard, Trust
Lease Land No
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Listed by Damien Breaux Morgan Skenderian db@morganskenderian.com, DRE #01460301
NEARBY SCHOOL & BUSINESS
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