Iconic, mixed-use 2-unit building located in Newport Beach's

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Commercial Sale Pending

507 29th Street

Newport Beach, California 92663

Orange County

Community: 

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$3,695,000 0 br, 0.0 bath 3096 sq. ft. 0.000 acres

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.

Interior:
  • Bedrooms: 0
  • Baths: 0.0
  • Sq Ft: 3096
  • Year Built: 1989
  • Utilities: 
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  • Garage: 
Exterior:
  • Lot Size: 0.000 acre
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  • MLS #: OC24087108
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Beach Commercial Sale Pending in Newport Beach, California
Ad Number: 4895209
Viewed 22 times.
Updated: May 02, 2024

This property is a Commercial located at 507 29th Street, Newport Beach, California 92663, and is currently Sale Pending at $3,695,000. This Commercial has 0 bedrooms, 0.0 baths, 3096 sq ft.

Listing Agent: Larry Birnbaum, LMB Enterprises, 714-655-8108, 714-655-8108 Listing Site, Listing Status: Pending
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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