6801 Seashore Dr
Newport Beach, California CA92663
MAJOR PRICE REDUCTION - STRONG CAP RATE!! This amazing, remodeled multi-family beach home on a corner lot located one house from the sand feels like an oceanfront home without the oceanfront price tag.The unique corner position of this beautiful home provides spectacular views of the crashing surf, sandy beach and Catalina Island.This contemporary home was completely remodeled in 2007 with only the highest quality.Featuring an upper unit of approximately 1410 sf with 2 bedrooms and 3 bathrooms and a separate 1 bedroom, 1 bathroom legal guest apartment on the lower level of approximately 477 sf.The upper unit features vaulted ceilings and a gourmet kitchen with appliances from Sub Zero and Thermador. A balcony off the kitchen allows easy access to a spacious rooftop deck with spectacular 360 degree views from Catalina Island to the snow covered peaks of Mt. Baldy.This is the ultimate second home with the lower unit offsetting the costs of ownership or simply purchase as income property to take advantage of the lucrative beach rental market.2 car garage and 1 designated parking space for the lower unit tenant. Projected net income of $80K yields a strong coastal cap rate of approx 3.6%. Great Opportunity! - Turn-key, one-of-a-kind property and location!