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Sold for $4,950,000 on 09/20/24
  • Listing Provided by: 

    Kevin Bayless DRE #01788899 kbayless@leeirvine.com,

    Bayless Real Estate

    Bought with: NONMEMBER MRML
    $4,950,000

    501 Park Ave, Newport Beach, CA 92662

    4beds
    3baths
    5,080sqft
    Mixed Use
    Built in 2015
    -- sqft lot
    $5,073,100 Zestimate®
    $974/sqft
    $7,621 Estimated rent

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    $30,676/mo

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    What's special

    THE PROPERTY: Welcome to your slice of paradise on Balboa Island in Newport Beach! This exquisite property offers an unparalleled opportunity to own a top-performing restaurant with two stunning apartments above, all completely rebuilt to perfection in 2015. THE RESTAURANT: Step into the heart of culinary excellence as you enter the spacious and inviting restaurant and bar area. Bathed in natural light pouring through large windows, this space exudes warmth and charm. With ample room for indoor and outdoor seating and a meticulously designed kitchen equipped with top-of-the-line appliances, it’s a dream canvas for creativity. THE LOCATION Situated in the heart of Balboa Island, this property enjoys a prime location in one of Newport Beach’s most coveted neighborhoods. Surrounded by quaint shops, charming cafes, and scenic waterfront vistas, residents and visitors alike are drawn to the vibrant energy and unparalleled beauty of this coastal community. With easy access to the Balboa Island Ferry, nearby beaches, and an array of recreational activities, the possibilities for adventure and relaxation are endless.

    Zillow last checked: 8 hours ago

    Listing updated: December 04, 2024 at 05:58pm

    Listing Provided by:

    Kevin Bayless DRE #01788899 kbayless@leeirvine.com,

    Bayless Real Estate

    Bought with:

    Alex Matar, DRE #01990417

    NONMEMBER MRML

    Source: CRMLS,MLS#: OC24090681MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 4
    • Bathrooms: 3
    Heating
    • Central
    Cooling
    • Central Air
    Appliances
    • Laundry: None
    Features
    • Common walls with other units/homes: No Common Walls
    Interior area
    • Total structure area: 5,080
    • Total interior livable area: 5,080 sqft

    Property

    Parking
    • Total spaces: 1
    • Parking features: Garage
    • Garage spaces: 1
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: Front
    • Pool features: None
    Lot
    • Size: 5,100 sqft
    • Features: Corner Lot
    Details
    • Additional parcels included: 05005236
    • Parcel number: 05005235
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Mixed Use
    Condition
    • New construction: No
    • Year built: 2015

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Community
    • Community features: Fishing, Water Sports
    Location
    • Region: Newport Beach
    • Subdivision: Balboa Island - Main Island (Balm)

    Other

    Other facts
    • Listing terms: Cash
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    Estimated market value
    $5,073,100