2516 Bayside Dr Newport Beach, CA 92625
5 Beds
5 Baths
2,550 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 2,550 sqft
Price per Sqft $2,156
Subdivision Corona Del Mar South Of Pch (Cdms)
MLS Listing ID OC26216438
Bedrooms 5
Full Baths 5
Construction Status Building Permit
HOA Y/N No
Year Built 1972
Lot Size 3,541 Sqft
Lot Dimensions Assessor
Property Sub-Type Duplex
Property Description
Positioned on an approximately 3,540-square-foot lot, the property enjoys prominent harbor views and additional on-site parking while currently offering two 2-bedroom, 2-bath residences plus a studio, with projected gross rental income of approximately $14,000 per month, or $168,000 annually. Two of the three units are currently vacant, with only the larger 2-bedroom residence tenant-occupied, providing a future owner with added flexibility for leasing, personal use, or future redevelopment while determining the optimal timing for construction.
The property's defining opportunity is its fully approved architectural plans for an approximately 3,500-square-foot, three-level contemporary single-family residence, with the building permit ready for pickup. Originally designed by Brandon Architects and subsequently completed and finalized by Horst Architects, the residence has been thoughtfully conceived to maximize the property's harbor views and coastal setting.
The sophisticated design features expansive glazing and seamless indoor-outdoor living, a dramatic great room with fireplace, a large eat-in kitchen with island and pantry, four bedrooms including en-suite secondary bedrooms, and a luxurious primary suite with fireplace and walk-in closet. Additional highlights include an elevator, two-car garage, expansive outdoor living areas, and a rooftop entertaining deck with covered cabana and bathroom.
Unlike a typical development opportunity requiring a lengthy architectural, entitlement, and approval process, 2516 Bayside offers the flexibility of income today together with a substantially advanced path toward creating a new luxury residence.
Harbor views. Immediate income potential. Two units currently vacant. Fully approved plans. Building permit ready for pickup. An exceptional opportunity to create a signature coastal residence in Corona del Mar.
Location
State CA
County Orange
Area Cs - Corona Del Mar - Spyglass
Rooms
Main Level Bedrooms 2
Interior
Interior Features Breakfast Bar, Balcony, Breakfast Area, Ceiling Fan(s), Separate/Formal Dining Room, Laminate Counters, Multiple Staircases, Unfurnished, All Bedrooms Up, Instant Hot Water, Primary Suite
Heating Central
Cooling Central Air, Attic Fan
Flooring Laminate
Fireplaces Type None
Inclusions NEGOTIOABLE
Fireplace No
Appliance Dishwasher, Electric Cooktop, Electric Oven, Electric Range, Freezer, Disposal, Ice Maker, Microwave, Dryer, Washer
Laundry Inside, In Kitchen, Upper Level
Exterior
Exterior Feature Awning(s), Rain Gutters
Parking Features Door-Multi, Direct Access, Driveway, Driveway Up Slope From Street, Garage Faces Front, Garage, Oversized, Public, Private
Garage Spaces 2.0
Garage Description 2.0
Fence Block, Privacy
Pool None
Community Features Biking, Curbs, Gutter(s), Park, Street Lights, Sidewalks
Utilities Available Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Connected
Waterfront Description Ocean Side Of Highway
View Y/N Yes
View Bay, City Lights, Park/Greenbelt, Harbor, Ocean, Water
Roof Type Asphalt,Composition,Flat
Accessibility No Stairs, Parking, Accessible Hallway(s)
Porch Deck, Front Porch, Open, Patio, Terrace, Wood
Total Parking Spaces 6
Private Pool No
Building
Lot Description 2-5 Units/Acre, Front Yard, Greenbelt, Lawn, Rectangular Lot, Sprinklers Timer, Tear Down, Value In Land
Dwelling Type Duplex
Faces Northwest
Story 2
Entry Level Two
Foundation Raised, Slab
Sewer Public Sewer
Water Public
Architectural Style Mid-Century Modern
Level or Stories Two
New Construction No
Construction Status Building Permit
Schools
Elementary Schools Harbor View
High Schools Corona Del Mar
School District Newport Mesa Unified
Others
Senior Community No
Tax ID 45911410
Security Features Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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