501 Park Avenue Newport Beach, CA $ 5,950,000
501 Park Avenue
$ 5,950,000
Share Save

501 Park Avenue

Newport Beach, CA, 92662
$ 5,950,000
Baths0.0 Sq 5,080

Monthly Estimate*

$ 39,546

Listed by Bayless Real Estate
501 Park Avenue, Newport Beach, CA 92662 - Image 1
501 Park Avenue, Newport Beach, CA 92662 - Image 2
501 Park Avenue, Newport Beach, CA 92662 - Image 3
501 Park Avenue, Newport Beach, CA 92662 - Image 4
501 Park Avenue, Newport Beach, CA 92662 - Image 5
501 Park Avenue, Newport Beach, CA 92662 - Image 6
501 Park Avenue, Newport Beach, CA 92662 - Image 7
501 Park Avenue, Newport Beach, CA 92662 - Image 8
501 Park Avenue, Newport Beach, CA 92662 - Image 9
501 Park Avenue, Newport Beach, CA 92662 - Image 10
501 Park Avenue, Newport Beach, CA 92662 - Image 11
501 Park Avenue, Newport Beach, CA 92662 - Image 12
501 Park Avenue, Newport Beach, CA 92662 - Image 13
501 Park Avenue, Newport Beach, CA 92662 - Image 14
501 Park Avenue, Newport Beach, CA 92662 - Image 15
501 Park Avenue, Newport Beach, CA 92662 - Image 16
501 Park Avenue, Newport Beach, CA 92662 - Image 17
501 Park Avenue, Newport Beach, CA 92662 - Image 18
501 Park Avenue, Newport Beach, CA 92662 - Image 19
501 Park Avenue, Newport Beach, CA 92662 - Image 20
501 Park Avenue, Newport Beach, CA 92662 - Image 21
501 Park Avenue, Newport Beach, CA 92662 - Image 22
501 Park Avenue, Newport Beach, CA 92662 - Image 23
501 Park Avenue, Newport Beach, CA 92662 - Image 24
501 Park Avenue, Newport Beach, CA 92662 - Image 25
501 Park Avenue, Newport Beach, CA 92662 - Image 26
501 Park Avenue, Newport Beach, CA 92662 - Image 27
501 Park Avenue, Newport Beach, CA 92662 - Image 28
501 Park Avenue, Newport Beach, CA 92662 - Image 29
501 Park Avenue, Newport Beach, CA 92662 - Image 30
501 Park Avenue, Newport Beach, CA 92662 - Image 31
501 Park Avenue, Newport Beach, CA 92662 - Image 32
501 Park Avenue, Newport Beach, CA 92662 - Image 33
501 Park Avenue, Newport Beach, CA 92662 - Image 34
501 Park Avenue, Newport Beach, CA 92662 - Image 35
501 Park Avenue, Newport Beach, CA 92662 - Image 36
501 Park Avenue, Newport Beach, CA 92662 - Image 37
501 Park Avenue, Newport Beach, CA 92662 - Image 38
501 Park Avenue, Newport Beach, CA 92662 - Image 39
501 Park Avenue, Newport Beach, CA 92662 - Image 40
Studio

Commercial Property for sale in Newport Beach, CA

for $5,950,000. This 5,080 square foot building was built in 2015 on a lot size of 0.1171.

THE PROPERTY: Welcome to your slice of paradise on Balboa Island in Newport Beach! This exquisite property offers an unparalleled opportunity to own a top-performing restaurant with two stunning apartments above, all completely rebuilt to perfection in 2015. THE RESTAURANT: Step into the heart of culinary excellence as you enter the spacious and inviting restaurant and bar area. Bathed in natural light pouring through large windows, this space exudes warmth and charm. With ample room for indoor and outdoor seating and a meticulously designed kitchen equipped with top-of-the-line appliances, it’s a dream canvas for creativity. THE LOCATION Situated in the heart of Balboa Island, this property enjoys a prime location in one of Newport Beach’s most coveted neighborhoods. Surrounded by quaint shops, charming cafes, and scenic waterfront vistas, residents and visitors alike are drawn to the vibrant energy and unparalleled beauty of this coastal community. With easy access to the Balboa Island Ferry, nearby beaches, and an array of recreational activities, the possibilities for adventure and relaxation are endless.

See more

Commercial Active

Price

$ 5,950,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

MultiFamily

Lot Size

0.1171

Year Built

2015

Town/City

Newport Beach

County/Region

Orange

MLS | Web ID

OC24091109

Days on Market

37

Features
General
Heating Central
Cooling CentralAir
Year Built 2015
Property SubType MultiFamily
Additional Parcels Description 05005236
County Orange
Net Operating Income 191840.0
Operating Expense 84160.0
Insurance Expense 0.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Corner of Park Avenue and Agate near the Balboa Island Ferry
City Newport Beach
View Y/N N
Senior Community Y/N N
NumberOfUnitsTotal 3
MLS Area N9 - Lower Newport Bay - Balboa Island
Lot Size Units SquareFeet
Lot Size Square Feet 5100.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 1
Street Name Park Avenue
Listing Terms Cash
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 4
Building Area Units SquareFeet
Standard Status Active
Occupancy Type Tenant
Year Built Source Builder
Property Sub Type Additional MultiFamily
Cap Rate 3.22
See more
Exterior
Lot Features CornerLot
Water Source Public
Lot Size Area 5100.0
Number of Buildings 1
Spa N
Building Area Total 5080.0
Lot Size Acres 0.1171
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
See more
Interior
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Laundry Features None
Entry Level 1
Electric On Property Y/N N
See more
Internal Only
Street Number 1 501
See more
* Excluded Features
List By
Bayless Real Estate

Broker

(949) 790-3142

Phone

Affordability Calculator

$39,546
Per Month
100%
0%
0%
Monthly Principal & Interest
$39,546
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save

Discover how much house you can afford

Your dream home may be within reach.

Learn More about how to save

The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/6/2024$5,950,000 Listed Price

Map


See all

501 Park Avenue, Newport Beach, CA, 92662 is a Commercial Property for sale at $5,950,000 with 5,080 sqft and a lot size of 0.1171. 501 Park Avenue is a studio with 0.0 baths and was built in 2015. The property's zip code is 92662 which is in Newport Beach, CA