125 39th St, Newport Beach, CA 92663

Property Description

Outstanding ocean view duplex in the coveted 100 block just a stone’s throw away from sandy beaches and the crashing surf. This large, multi-family zoned property features a rare 4 bedroom, 2 bath unit upstairs and a 3 bedroom, 2 bath unit downstairs. Both units are very clean and have been upgraded and improved over the years. The upper unit features wood beam vaulted ceilings throughout, an open kitchen with bamboo floors, newer appliances and dining nook, spacious great room with fireplace and ocean view balcony. The lower unit has been recently upgraded with newer travertine flooring, kitchen appliances, breakfast bar and remodeled bathroom. A front patio on the lower unit is ideal to take in the views, ocean air and summer BBQ’s. Newer dual pane windows and sliders. A two car garage with laundry facility is shared by the tenants. Great rental income and expense history available (managed by Villa Rentals). The property is fully leased to strong tenants with varying lease maturity dates that are likely to extend if desired by the new owner. This could also be a great second beach home while offsetting the cost with rental income. Great turn-key property with solid cap rate and income history in a 5-star location just a ½ block to the beach!