507 29th ST Pending Save Request In-Person Tour Request Virtual Tour
Newport Beach,CA 92663
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,096 sqft
Price per Sqft $1,128
Subdivision ,Cannery Village
MLS Listing ID OC24147915
Construction Status Turnkey
HOA Y/N No
Year Built 1989
Lot Size 3,101 Sqft
Acres 0.0712
Property Description
Iconic, mixed-use 2-unit building located in Newport Beach’s popular Cannery Village. This Mediterranean-style property offers one residential unit and one commercial office/retail space. Upstairs you will find an extremely large residential unit consisting of 4 bedrooms, 3 of which are en suite, and 3.5 bathrooms. THIS RESIDENTIAL UNIT HAS A SHORT-TERM LODGING PERMIT and is currently being used as a short-term rental. It is a generous 2,117 square feet and boasts peek-a-boo water views of the harbor from the living room and large front sundeck. Updated and remodeled throughout with thoughtfulness to preserve some of the original elements of the vibrant property. A perfectly placed center atrium brings an abundance of natural light into the center of the home. Vaulted ceilings, skylights, and open spaces give a sense of vastness. There is a laundry room conveniently located in the hallway. The primary bathroom has an oversized operable skylight that can be opened for natural air circulation. This residential unit has 2 dedicated garage spaces that are tandem parked. Downstairs you will find a versatile commercial office/retail space that is approximately 1,000 square feet. There is a dedicated bathroom for the commercial space and in the rear, you will find 4 car parking with easy access off the alley. It is currently leased as office space at $3,200 per month with the end of the lease term in mid-June, 2025. You cannot ask for a better location! Centrally located in the heart of the Balboa Peninsula within the charming Cannery Village. The oversized lot size of this property is slightly wider than the typical 30-foot-wide standard lot size found in this area. Most of the mixed-use properties located nearby have a live/work deed restriction that requires the same owner to occupy the residential unit as well as run the downstairs commercial business. This property does NOT have that deed restriction. This means that each unit can be occupied by a completely separate and independent party. Note: The Seller would like to do Seller-Financing for qualified Buyers on terms that are favorable and agreeable to all parties.
Location
State CA
County Orange
Area N8 - West Newport - Lido
Rooms
Ensuite Laundry Inside,Laundry Room,Upper Level
Interior
Interior Features Cathedral Ceiling(s),All Bedrooms Up,Main Level Primary
Laundry Location Inside,Laundry Room,Upper Level
Heating Central
Cooling None
Flooring Carpet,Tile
Fireplaces Type Living Room,Primary Bedroom
Fireplace Yes
Laundry Inside,Laundry Room,Upper Level
Exterior
Garage Carport,Garage,On Site,Tandem
Garage Spaces 2.0
Carport Spaces 4
Garage Description 2.0
Pool None
Community Features Sidewalks,Water Sports
Waterfront Description Beach Access,Ocean Access
View Y/N Yes
View Bay,Harbor,Water
Parking Type Carport,Garage,On Site,Tandem
Total Parking Spaces 6
Private Pool No
Building
Lot Description Level,Zero Lot Line
Faces South
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Mediterranean
Level or Stories Two
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 04703317
Acceptable Financing Cash,Cash to New Loan,1031 Exchange,Owner Will Carry,Private Financing Available
Listing Terms Cash,Cash to New Loan,1031 Exchange,Owner Will Carry,Private Financing Available
Special Listing Condition Standard