Iconic, mixed-use 2-unit building located in Newport Beach’s popular Cannery Village. This Mediterranean-style property offers one residential unit and one commercial office/retail space. Upstairs you will find an extremely large residential unit consisting of 4 bedrooms, 3 of which are en suite, and 3.5 bathrooms. THIS RESIDENTIAL UNIT HAS A SHORT-TERM LODGING PERMIT and is currently being used as a short-term rental. It is a generous 2,117 square feet and boasts peek-a-boo water views of the harbor from the living room and large front sundeck. Updated and remodeled throughout with thoughtfulness to preserve some of the original elements of the vibrant property. A perfectly placed center atrium brings an abundance of natural light into the center of the home. Vaulted ceilings, skylights, and open spaces give a sense of vastness. There is a laundry room conveniently located in the hallway. The primary bathroom has an oversized operable skylight that can be opened for natural air circulation. This residential unit has 2 dedicated garage spaces that are tandem parked. Downstairs you will find a versatile commercial office/retail space that is approximately 1,000 square feet. There is a dedicated bathroom for the commercial space and in the rear, you will find 4 car parking with easy access off the alley. It is currently leased as office space at $3,200 per month with the end of the lease term in mid-June, 2025. You cannot ask for a better location! Centrally located in the heart of the Balboa Peninsula within the charming Cannery Village. The oversized lot size of this property is slightly wider than the typical 30-foot-wide standard lot size found in this area. Most of the mixed-use properties located nearby have a live/work deed restriction that requires the same owner to occupy the residential unit as well as run the downstairs commercial business. This property does NOT have that deed restriction. This means that each unit can be occupied by a completely separate and independent party. Note: The Seller would like to do Seller-Financing for qualified Buyers on terms that are favorable and agreeable to all parties.
Property Details
Property Features
Property Information:
Architectural Style: Mediterranean
Year Built: 1989
Stories: 2
Listing Office:
Office Name: LMB Enterprises
Office Phone: (714) 655-8108
Listing Agent: Larry Birnbaum
Interior Features
Interior Information:
Flooring Type: Carpet, Tile
Interior: Cathedral Ceiling(s), All Bedrooms Up, Main Level Primary
Fireplace: Living Room, Primary Bedroom
Exterior Features
Exterior Information:
Private Pool: No
Waterfront: Beach, Ocean Access
View: Bay, Harbor, Water
Parking Information:
Garage Space: 2 spaces
Parking: Carport, Garage, On Site, Tandem
Virtual/3D Tour
3D Tour: 507 29th St
3D Tour
Lot Features
Lot Information:
Lot: Level, Zero Lot Line
Lot Size: 0.07 Acres
Utilities
Utilities Information:
Heating: Central
Cooling: None
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: Newport Blvd to 29th Street
Price Information
Listing Price Info
Price Summary:
List Price: $3,695,000
Tax Information:
Annual Amount: $8,295
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Newport Beach, CA.
This property is $338.8K 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: #OC24007802
Listing Office:
Office Name: LMB Enterprises
Office Phone: (714) 655-8108
Listing Agent: Larry Birnbaum
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: 5/11/2024, 2:20:35 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Dec 15, 1988
Dec 15, 1988Home Sold
$205,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$8,295
$693,147
2020
$8,212
$686,040
2019
$7,906
$672,589
2018
$7,907
$659,401
2017
$7,771
$646,472
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 school0.78 miles
Public District Grades KG-6
Middle School
7
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school0.74 miles
Public District Grades 7-8
High School
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.05 miles
Public District Grades 9-12
Assigned Schools
9
/10
Newport Elementary School
1327 W Balboa Blvd
Distance between this listing and this school0.78 miles
Public District Grades KG-6
Nearby Schools
7
/10
Newport Heights Elementary School
300 E 15th St
Distance between this listing and this school1.02 miles
Public District Grades KG-6
8
/10
Mariners Elementary School
2100 Mariners Dr
Distance between this listing and this school1.86 miles
Public District Grades KG-6
Assigned Schools
7
/10
Horace Ensign Intermediate School
2000 Cliff Dr
Distance between this listing and this school0.74 miles
Public District Grades 7-8
Nearby Schools
8
/10
Isaac L. Sowers Middle School
9300 Indianapolis Ave
Distance between this listing and this school4.06 miles
Public District Grades 6-8
4
/10
Charles W. Tewinkle Middle School
3224 California St
Distance between this listing and this school5.15 miles
Public District Grades 7-8
Assigned Schools
7
/10
Newport Harbor High School
600 Irvine Ave
Distance between this listing and this school1.05 miles
Public District Grades 9-12
Nearby Schools
5
/10
Estancia High School
2323 Placentia Ave
Distance between this listing and this school3.11 miles
Public District Grades 9-12
9
/10
Corona Del Mar High School
2101 Eastbluff Dr
Distance between this listing and this school3.20 miles
The neighbors living near this home have an average income of $120,510. The most common annual income of people living in Newport Beach, CA is between $100k-200k. Residents typically live in single, no kids family. The majority of residents in this area have post secondary degree education.
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This home is located at 507 29th St in Newport Beach, CA and zip code 92663 in the West Newport Beach neighborhood. This home, which was built in 1989, sits on a 0.07 acre lot. It has been listed on Rocket Homes since January 17, 2024 and is currently priced at $3,695,000.
Newport Beach, CA housing market in April 2024 saw over 14 listings sold above listed price, more than 17 sold at listed price and over 57 sold below. In April 2024 in Newport Beach, CA there were 11.2% more homes for sale than in March 2024. In April 2024, listings were on the market for 51 days. During the same period, the median list price in this real estate market was $3,356,190.
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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