$3,495,000
Pending

507 29th Street

Newport Beach, CA 92663
3096 sqft | 4 beds | 3.5 baths | 0.07 acres | #OC24159586
Listing OfficeLMB Enterprises
Browse 38 photos
Type:Purchase
Structure:Condo
Zone:Residential

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.

  • Interior Details
      • InteriorCathedralCeilings, SeparateFormalDiningRoom, AllBedroomsUp, MainLevelPrimary
    • Beds & Baths
      • Bathrooms3.5
      • Bedrooms4
      • Full Baths3
      • Half Baths1
  • Property Details
      • Lot DescriptionLevel, ZeroLotLine
      • ViewBay, Harbor, Water
      • Stories2
    • Measurements
      • Acres0.0712
      • Square Feet3096
    • Parking
      • Parking Spaces2
  • Construction Details
      • Property TypePurchase
    • Condition
      • Year Built1989
    • Material information
      • FoundationSlab
  • Utilities / Energy Details
      • Sewer InformationPublicSewer
      • Utility SourcePublic
  • Community and Neighborhood Details
      • Subdivision, Cannery Village
    • Location
      • School DistrictNewport Mesa Unified
      • CountyOrange
  • Financial Details
      • Original List Price$3,595,000
  • Other
      • MLS #OC24159586

Location

Pam and Carson Real EstateReal Estate Group
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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