505 38th St, Newport Beach, CA 92663

Opportunities abound with this charming bungalow-style Duplex on Newport Island. This is a great opportunity for an owner-user to live in this amazing neighborhood while, at the same time, generating monthly income. These units would make for fabulous long-term rentals as tenant demand is very strong on the island due to the location and the uniqueness of the neighborhood. Also, this could be a phenomenal opportunity for someone who would like to start fresh and build their dream home in one of Newport Beach’s most coveted neighborhoods. The new construction possibilities include a single-family residence with an ADU, a duplex or possibly even two condos. Per the city, total allowable build up to 3,840 sq. ft. including garages. Both units have two bedrooms and one bathroom and they share a two car garage and a laundry. The charming front unit is on the ground level with no steps and move-in ready. Tenants enjoy a sizable front patio for outdoor dining & relaxing, a quaint living space with wood-like floors, wainscotting, a dining room and an updated kitchen. The back unit, which is located over the garage, is just as charming with a lanai, perfect for morning coffee, a Dutch door and ample living space. Situated on one of the eight islands in Newport Harbor, this neighborhood is about as special as you can get. Residents enjoy a gorgeous waterfront park equipped with a playground, a half basketball court, grill area and a baby beach that overlooks the channel. On any given day, you will find islanders launching paddle boards and kayaks from the baby beach as well as from various inlets around the neighborhood. Some residents lease moorings from the City of Newport Beach, which are located around the island. It’s a quick walk across the bridge and down two blocks to the locals’ favorite beach and surf spot. This is a community that enjoys getting together. Residents gather for parties in the park, for just about every major holiday and several times throughout the summer. Newport Island looks and feels very much like a private community but, in fact, it’s not. There are no monthly HOA dues. In addition to the island, enjoy all that Newport Beach has to offer. Walk to several other nearby parks or bike to the Newport Beach Pier, Marina Park and The Balboa Fun Zone. Stroll the Peninsula and Lido Village for all of the fabulous shopping and dining establishments.