112 28th Street # A, Newport Beach
$3,500,000 - 6 Beds, 4 BathsMLS® # NP24074981
$2,999,000
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Here is an amazing opportunity to create your coastal income-property dream just steps from the sand in West Newport. This duplex features a 3 bedroom 2 bath (one ensuite) unit with vaulted ceilings on the top floor and a 2 bedroom 2 bath (one ensuite) on the first floor. Both units have individual laundry hook-ups and utility metering. There is one water meter for the property. The property is in unfinished condition and is ready for your signature and completion. A huge amount of heavy-lifting and infrastructure has been addressed, including but not limited to: Liquefaction Mitigated slab/foundation.
New underground electric service/panels/distribution. Separately metered units.
New upsized water meter and service lateral.
New plumbing and sewer lines.
New gas lines. Separately metered.
Single water meter but water lines have been isolated to each separate unit.
New tankless water heaters with recirculating lines.
New forced air heating.
New doors/windows (except for a couple existing windows that had already been replaced.
New exhaust fans in all baths.
New overhead fire sprinklers throughout.
Two EV conduits in garage.
All new phone, data, A/V cabling throughout.
The most recent permits with the city have expired, so they will either need to be renewed or substituted by the buyer with their changes.
Recent appraisal pegs the finished value at nearly $1,000,000 over the asking price. Act quickly!
We have a lender who is familiar with the property and may entertain financing the new purchase. Cash or hard-money buyers are encouraged to write as well.
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Near Public Transit, Rectangular Lot, Street Level
Based on information from California Regional Multiple Listing Service, Inc. as of May 17th, 2024 at 9:30pm PDT. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.