Property Description

THIS FIRST-CLASS LUXURY WATERFRONT VACATION RENTAL GETAWAY IS UNRIVALED AMONGST ITS SHORT-TERM RENTAL COMPETITORS, COMPLETE WITH PRIVATE OVERSIZED DOCK AND A PROVEN EXTRAORDINARILY STEADY FLOW OF YEAR-ROUND INCOME AND NOTHING BUT FIVE-STAR RATINGS FROM GUESTS; TRULY AN INVESTOR’S DREAM! Reissue of 2- Short Term Lodging Permits (STLP) and 1- adjacent Mooring Permit Transfer are part of this rare offering. The property recently underwent a major renovation throughout, melding today’s modern luxuries with a balance of elegance and casual coastal living accommodations that meet demanding expectations of even the most discerning guests. A convenient locale allows easy access to the open harbor for boaters, paddleboarders or kayakers and is just steps or a bike ride away from everything the famed Balboa Peninsula has to offer; the beach for some of the best surf around, beautiful parks, art galleries, upscale boutiques, fine dining and night life, while providing exclusive privacy and tranquility of a quaint residential community living experience. The coveted rare corner lot leverages E/W exposure into both units, while an adjoining tropical garden extends a greater sense of peace and space. Each unit features 3 BRs, 2 BAs, sweeping bay views overlooking the Rivo Alto canal, alfresco dining, natural gas BBQ grill, sunning/lounging/entertainment areas, natural gas firepit, spacious rms. with tasteful and comfortable furnishings, kitchen equipped for a chef, 1 car garage, HVAC system, natural gas fireplace in living room. LOWER UNIT-Sleeps 7- Approx. 1,291 sq.ft., lg. teak-like patio deck leading to private dock. UPPER UNIT-Sleeps 8- Approx. 1,509 sq.ft., lg. cantilevered deck. Occupy 1 unit (full or part-time) and rent the other, or rent both. This amazing owner-operated VRBO STL business was methodically designed and built by the sellers with two goals in mind: 1)to run a successful, efficient, streamlined business that would consistently deliver the finest available in STL, 2) to exceed the average cap rate of their competitors; they achieved both. Neighborhood undergrounding of utilities is now complete. This meticulously curated and lucrative business investment comes with all furnishings, including operational/replacement items on hand, recreational bay/beach toys, lists of previous guests (many repeats) and bookings for 2023. Read 100s of reviews on VRBO. This unique turnkey investment strategy awaits just one fortunate investor; will you be the one?

: Forced air
: Central Air
: City Lights, Panoramic, Bay, Canal
: Gas Dryer Hookup, Washer Hookup, In Garage, Dryer Included, Washer Included
: Curbs, Sidewalks, Storm Drains, Street Lights, Park, Biking, Watersports
: Cape Cod
Additional Information
Arbor Real Estate
: Standard

Multi-Family For Sale

4010 River Avenue, Newport Beach, California 92663

2,800 Sqft
Listing ID #NP21195146
Basic Details
Status : Active
DaysOnMarket : 104
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : NP21195146
Price : $7,500,000
Living Area : 2,800 Sqft
Lot Size : 3,036 Sqft
Year Built : 1948
Country : US
State : California
County : Orange
City : Newport Beach
Zipcode : 92663
Price Per Square Foot : $2,679
Water front Features : Beach Access, Ocean Access, Includes Dock, Ocean Side Of Highway 1, Bay Front, Canal Front, Seawall
ModificationTimestamp : 2022-09-30 16:25:10
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