Newport Beach - Beach Property For Sale #2018794

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 ONLINE RATINGS FROM GUESTS; TRULY AN INVESTOR'S DREAM! Reissue of 2-Short-Term Rental (STR) Permits 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 and 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 and 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. UPPER UNIT-Sleeps 8-Approx. 1,509 sq.ft., large cantilevered deck. LOWER UNIT-Sleeps 7-Approx. 1,291 sq.ft., large teak-like patio deck leading to private dock. Occupy 1 unit (full or part-time) and rent the other, or rent both. This amazing owner-operated STR 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 STRs, 2)to exceed the average cap rate of their competitors; they achieved both. Neighborhood undergrounding of utilities is nearing completion. This meticulously curated and lucrative business investment comes with all furnishings, including operational/replacement items on hand, recreational bay/beach toys, separate lists of previous guests (many repeats) and wait list of 2022 bookings. This unique turnkey investment strategy awaits just one fortunate investor; will you be the one?