$500,000 Price Improvement! Bring All Reasonable Offers! Once in a lifetime opportunity! For the 1st time in over 35 years, 506 E. Oceanfront is NOW available to add to your investment portfolio as an investment asset or, utilize it for your future primary residence (or both as its zoned as a Duplex). These assets customarily never hit the market and become generational properties! Don't Hesitate. Don't let this unique opportunity pass you by. Located in the heart of the Balboa Peninsula! Wake up and choose the Bike Path in front, the volleyball courts, or enjoy the sand and Pacific Ocean - all just steps away. If you choose to take a short stroll, you are immediately in the heart of all the action. Just steps to the pier, local restaurants, and plenty of parking for your guests as the city parking facilities are also just steps away. Not too many places along the California Coastline could offer this much opportunity. Current unit mix (Unit A) is a Three Bedroom Two Bath unit - potentially set up to sleep 9 Guests, and Unit B as a 4 bedroom 2 1/2 Bath unit that is potentially set up to sleep 12 Guests... Imagine having 21 guests at your Beach Front Oasis!
Property Details
Property Features
Property Information:
Year Built: 1973
Stories: 2
Listing Office:
Office Name: The Holstein Group
Office Phone: (310) 345-9994
Listing Agent: David Holstein
Interior Features
Interior Information:
Appliances: Dryer, Washer
Exterior Features
Exterior Information:
Private Pool: No
Waterfront: Beach, Ocean Access, Ocean Front
View: Ocean, Pier, Water
Parking Information:
Garage Space: 2 spaces
Lot Features
Lot Information:
Lot Size: 0.06 Acres
School Info
Assigned Schools Information:
Newport Harbor High School, Public District Grades 9-12
Horace Ensign Intermediate School, Public District Grades 7-8
Newport Elementary School, Public District Grades KG-6
Other
Directions Information:
Directions: Balboa Blvd to Oceanfront
Price Information
Listing Price Info
Price Summary:
List Price: $5,995,000
Tax Information:
Annual Amount: $9,817
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Newport Beach, CA.
This property is $2.6M more than the Median Sold Price in Newport Beach, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #SB24045420
Listing Office:
Office Name: The Holstein Group
Office Phone: (310) 345-9994
Listing Agent: David Holstein
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/3/2024, 12:55:37 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$9,817
$884,176
2020
$9,722
$875,110
2019
$9,341
$857,951
2018
$9,342
$841,129
2017
$9,178
$824,637
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
9
/10
Newport Elementary School
1327 W Balboa Blvd
Distance between this listing and this school0.70 miles
Public District Grades KG-6
Middle School
7
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school1.22 miles
Public District Grades 7-8
High School
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.38 miles
Public District Grades 9-12
Assigned Schools
9
/10
Newport Elementary School
1327 W Balboa Blvd
Distance between this listing and this school0.70 miles
Public District Grades KG-6
Nearby Schools
7
/10
Newport Heights Elementary School
300 E 15th St
Distance between this listing and this school1.81 miles
Public District Grades KG-6
8
/10
Mariners Elementary School
2100 Mariners Dr
Distance between this listing and this school1.95 miles
Public District Grades KG-6
Assigned Schools
7
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school1.22 miles
Public District Grades 7-8
Nearby Schools
10
/10
Vista Verde
6 Federation Way
Distance between this listing and this school4.90 miles
Public District Grades KG-8
8
/10
Isaac L. Sowers Middle School
9300 Indianapolis Ave
Distance between this listing and this school5.37 miles
Public District Grades 6-8
Assigned Schools
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.38 miles
Public District Grades 9-12
Nearby Schools
9
/10
Corona Del Mar High School
2101 Eastbluff Dr
Distance between this listing and this school2.67 miles
Public District Grades 7-12
5
/10
Estancia High School
2323 Placentia Ave
Distance between this listing and this school4.15 miles
The neighbors living near this home have an average income of $105,357. Typical income of Newport Beach, CA residents is between $100k-200k annually. The majority of families are single, no kids. The most common level of education of people living in this area is post secondary degree.
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This home is located at 506 E Oceanfront in Newport Beach, CA and zip code 92661 in the Central Newport Beach neighborhood. This home, which was built in 1973, sits on a 0.06 acre lot. It has been listed on Rocket Homes since March 06, 2024 and is currently priced at $5,995,000.
While more than 14 listings in Newport Beach, CA in April 2024 were sold above asking price, there were more than 17 listings sold at asking price, and more than 57 were sold below. The number of listings in Newport Beach, CA increased by 11.2% between March 2024 and April 2024. In April 2024 median list price was $3,356,190 and the average listing age was 51 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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