Living large at 207 40th Street. Two units available, sold separately or together, each with a coveted active short-term lodging permit (yes, 2-short term permits) fully transferable to the new owner. Totally remodeled and professionally furnished, this property is ready to enjoy from day one as a getaway, family beach pad, or high income-generating rental. The interior is styled in a coastal urban-chic aesthetic with light wood accents and beach-inspired tones. With a 2-bedroom, 2-bath downstairs unit that is light, bright, and built for the beach lifestyle, including a private primary ensuite and front patio that sets the tone with a built-in bar, al fresco café window, BBQ, and dining area perfect for gathering after the beach or bay. The Upstairs unit is a 3-bedroom, 2-bath designed with dramatic vaulted ceilings throughout, including a spacious primary suite with private patio. Additional highlights for both units include air conditioning, a private outdoor shower and two tandem parking spaces in the oversized 4-car garage. Everything you need is already here from the furnishings to the beach gear making this an easy, turn-key operation. Located just 11 houses from the sand and 4 houses from the bay in one of Newport Beach’s most consistently desirable zones of the Newport Peninsula.
Property Sub Type:
Duplex
Property Attached:
No
Lot Area:
2,431 sq. ft.226 m2
Bathrooms:
-
(Full:-, Half:-)
Year built:
1983
(Age: 42)
General Listing Location:
Newport Beach, N8 - West Newport - Lido
County Or Parish:
Orange
Tenant Pays:
None
Common Interest:
Condominium
Gross Income:
$0
Gross Scheduled Income:
$322,425
Net Operating Income:
$180,309
Cap Rate %:
4.1
Rent Control:
No
Association Fee:
$0
Land Lease:
No
Cable TV Expense:
$1,092
Electric Expense:
$1,600
Fuel Expense:
$0
Furniture Replacement Expense:
$0
Gardener expense:
0.0
Insurance Expense:
$7,550
Licenses expense:
672.0
Maintenance Expense:
$2,000
Taxes expense:
44000.0
Operating Expense:
$59,114
Other Expense:
$0
Pest control expense:
$0
Pool expense:
$0
Professional Management Expense:
$0
Supplies Expense:
$0
Trash Expense:
$1,100
Water and Sewer Expense:
$1,100
Workmans Compensation Expense:
$0
Vacancy Allowance:
$83,002
Vacancy Allowance Rate:
$26
Tax Lot:
1
Balboa Blvd to 40th Street
Floor
Type
Size
Other
-
Laundry
Measurements not available
-
-
Primary Bedroom
Measurements not available
Multiple Primary Suites
-
Other
Measurements not available
Walk-In Closet(s)
-
Living Room
Measurements not available
-
-
Kitchen
Measurements not available
-
View:
Neighborhood
Appliances:
Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator