700 E Oceanfront, Newport Beach, CA, 92661
About This Home
Fabulous remodeled oceanfront getaway, turnkey vacation rental business or BOTH? The choice is yours at 700 E Oceanfront The property presents a fantastic opportunity to own an updated duplex in the heart of the Balboa Peninsula. LOCATION LOCATION LOCATION, this property is near all of the attractions that you and/or your vacation rental guests desire. Steps away from the sand and ocean, the property is located on the boardwalk and walking distance to Balboa Fun Zone, with activities for all and ferry service to Balboa Island as well as Catalina. The corner location affords unparalleled sunlight and those cooling ocean breezes. The lower 1 bed/1 bath unit is newly remodeled and has its own indoor laundry. A large, open living area flows seamlessly into an upgraded kitchen with quartz composite countertops and a breakfast bar. An oversize deck is perfect for enjoying the beach lifestyle and large gatherings. The upstairs unit is well-designed and newly remodeled throughout, including kitchen (w/ island and wine fridge) and entertaining space, as well as 3 generous bedrooms (the Primary has its own kitchenette) and 2 bathrooms. The living/great room features breathtaking views of the ocean and Balboa Pier. The duplex has been professionally managed and meticulously maintained. Notable features include: Air conditioning (new in 2023), new roof, double-paned windows and functional and cosmetic updates throughout. A rare oversize garage can accommodate up to four cars. This oceanfront duplex offers a proven track record and excellent reviews from former guests. Incredible income potential with 2 Short Term Lodging permits in place. Act quickly! With only 1550 Short Term Lodging Permits available in the entire city, having a property with TWO on Oceanfront is truly a rare opportunity.
Getting Around
Very Walkable
No Nearby Transit
Very BikeableSchools
Construction
Condition
- Property condition: Turnkey
- Year built: 1973
Materials
- Foundation: Slab
- Construction materials: Stucco
Type & Style
- Home type: SingleFamily
- Property subType: Duplex
Interior
Appliances
- Appliances included: Dishwasher,Electric Range,Electric Water Heater,Disposal,Gas Range,Gas Water Heater,Microwave,Refrigerator
- Laundry features: Inside,See Remarks
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
- Main level bathrooms: 1
- Main level bedrooms: 1
Features
- Wet Bar,Balcony,Living Room Deck Attached,Open Floorplan,Quartz Counters,Primary Suite
- Window features: Double Pane Windows
- Flooring: Carpet,Tile
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Heating & Cooling
- Heating features: Central,Radiant
- Cooling features: Central Air,See Remarks
Interior Area
- Total interior livable area: 2,310 sqft
Master Bedroom
- Features: Primary Suite
Property
Details
- Parcel number: 04813512
- Zoning: RSC-R
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Pool features: None
- Exterior features: Barbecue
- Spa features: None
- Fencing: None
- Has view: Yes
- View description: Ocean
- Has water view: Yes
- Water view: Ocean
- Waterfront features: Beach Access,Ocean Access
Lot
- Lot size: 2,614 sqft
- Features: Corner Lot,Near Public Transit,Walkstreet
Parking
- Total spaces: 4
- Parking features: Garage,Paved,Garage Faces Rear,Tandem
- Has garage: Yes
- Attached garage spaces: 4
- Covered spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Earthquake
- Inland Flooding
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Orange County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $31,345 | $376,140 |
| Home Insurance * | $412 | $4,944 |
| Property Taxes | $5,419 | $65,028 |
| Electricity | $495 | $5,944 |
| Total | $37,671 | $452,052 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-19 | Price change | $6,490,000 |
| 2026-02-09 | Listed for sale | $6,890,000 |
| 2025-11-05 | Listing removed | $6,690,000 |
| 2025-06-30 | Listed for sale | $6,690,000 |
| 2022-11-17 | Sold | $5,000,000 |
| 2022-10-13 | Contingent | $5,300,000 |
| 2022-07-05 | Listed for sale | $5,300,000 |
| 2021-06-09 | Listing removed | -- |
| 2021-05-06 | Price change | $5,830,000 |
| 2021-03-06 | Price change | $5,480,000 |
| 2021-02-19 | Listed for sale | $5,938,000 |
| 2020-06-01 | Sold | $2,925,000 |
| 2014-09-29 | Listing removed | $3,400 |
| 2014-08-17 | Price change | $3,400 |
| 2014-03-29 | Listed for rent | $3,500 |
| 2005-03-24 | Sold | $2,375,000 |
| 2003-08-11 | Sold | $1,450,000 |
| 2002-11-19 | Sold | $1,200,000 |
| 1995-08-18 | Sold | $630,000 |
| 1994-02-08 | Sold | $528,500 |
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