506 E Oceanfront, Newport Beach, CA 92661
OFF MARKET
Listed by David Holstein, The Holstein Group, (310) 345-9994 . Bought with NONMEMBER MRML

506 E Oceanfront
Newport Beach, CA 92661

  • 7 Beds
  • 5 Baths
  • 3,044 sqft
7 Beds
5 Baths
3,044 sqft

Local Information

  • Map ViewExplore the area around 506 E Oceanfront.
  • Schools1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

$500,000 Price Reduction! Bring All Reasonable Offers for this Once in a lifetime opportunity!
This asset is a once in a lifetime opportunity! Options to utilize it for your primary residence, 50% as your primary residence (since it's a legal duplex), and/or keep it fully in the rental pool generating income while having it accessible to use personally when vacant.
Included in the sale, TWO highly coveted, transferable, active Short-Term-Lodging permits approved with the city. Buyer to verify all details for their intents and purposes.  Located in the heart of the Balboa Peninsula on the Newport Beach Sand! Occupants can enjoy the immediate social life of the Bike Path & Volleyball Courts or a short stroll to the Surf Shops, Restaurants, Markets, and The Pier.
Short term permits allow for approximate 16 occupants (buyer to verify) between the 2 units (Unit A, approximately 1333 sq ft.), a Three Bedroom Two Bath unit, and Unit B (approximately 1676 sq. ft), is a 4 bedroom 2 1/2 Bath. Special Note: Across the bike path from this asset, your resident's and their guest can enjoy access to a giant city parking facility. This asset has it ALL. Parking, Duplex, High Occupancy Potential, Income, Sand Location, Bike Path and immediate ocean/sand access. This is an heirloom asset that should not be overlooked! Other options to consider, park money here for your 1031 exchange? or lease it out to long term tenants? Opportunities are endless!
506 E Oceanfront, Newport Beach, CA 92661 is a 7 bedroom, 5 bathroom, 3,044 sqft multi-family built in 1973. It last sold for $4,000,000 on Nov 15, 2024 (20% below the $4,995,000 asking price). It is currently off market. The Trulia Estimate rent is $6,562/month.

Home Highlights

Parking
Garage
Outdoor
No Info
HOA
None
Price/Sqft
No Info
Listed
180+ days ago

Home Details for 506 E Oceanfront

Interior Features

Beds & Baths
Number of Bedrooms: 7Number of Bathrooms: 5
Appliances & Utilities
Appliances: Dryer, WasherDryerWasher
Windows, Doors, Floors & Walls
Common Walls: 2+ Common Walls
Levels, Entrance, & Accessibility
Stories: 2Number of Stories: 2Levels: TwoEntry Location: side
View
Has a ViewView: Ocean, Pier, Water

Exterior Features

Exterior Home Features
No Private Pool
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2Open Parking Spaces: 1Has a GarageParking Spaces: 3Parking: Garage
Pool
Pool: None
Frontage
WaterfrontWaterfront: Beach Access, Beach Front, Ocean Access, Ocean FrontOn Waterfront
Water & Sewer
Sewer: Public Sewer
Surface & Elevation
Elevation Units: Feet

Days on Market

Cumulative Days on Market: 204

Property Information

Year Built
Year Built: 1973
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Duplex
Building
Not a New ConstructionAttached To Another StructureNo Additional Parcels
Property Information
Parcel Number: 04812210

Price & Status

Price
List Price: $4,995,000
Status Change & Dates
Off Market Date: Wed Sep 25 2024

Active Status

MLS Status: Closed

Location

Direction & Address
City: Newport BeachCommunity: Balboa Peninsula (Residential) (Balp)

Building

Building Area
Building Area: 3044 Square Feet

Community

Community Features: Biking, Fishing, Hiking, Sidewalks, Water SportsNot Senior Community

HOA

Association for this Listing: California Regional MLS

Lot Information

Lot Area: 2614 sqft

Listing Info

Special Conditions: Standard

Offer

Listing Terms: Cash, Cash to New Loan

Rental Terms, Policies & Fees

No Rent Control

Miscellaneous

Mls Number: SB24045420Living Area Range Units: Square FeetWater ViewWater View: Ocean, Pier, WaterAttribution Contact: 310-345-9994Common Interest: NoneUniversal Property Id: US-06059-N-04812210-R-N

Additional Information

BikingFishingHikingSidewalksWater Sports
Last check for updates: about 12 hours ago
Listed by David Holstein DRE #01210777, (310) 345-9994
The Holstein Group
Bought with: Joe Lengyel-Leahu DRE #02119569, NONMEMBER MRML
Originating MLS: California Regional MLS
Source: CRMLS, MLS#SB24045420

Price History for 506 E Oceanfront

DatePriceEventSource
11/15/2024$4,000,000Sold
CRMLS #SB24045420
09/25/2024$4,995,000PendingCRMLS #SB24045420
09/18/2024$4,995,000PendingToActiveCRMLS #SB24045420
09/10/2024$4,995,000ContingentCRMLS #SB24045420
07/11/2024$4,995,000PriceChange
CRMLS #SB24045420
05/29/2024$5,495,000PriceChange
CRMLS #SB24045420
04/30/2024$5,995,000PriceChange
CRMLS #SB24045420
03/06/2024$6,500,000Listed For SaleCRMLS #SB24045420

Market trends in Newport Beach

Last updated June 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$3.02M
$106KMoM
Sale-to-List Price
97.9%
Price per sq ft
$1.41K
$34MoM
Available listings
379
3MoM
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Property Tax and Assessment

Year2025
Tax$42,685
Assessment$4,000,000
Home facts updated by county records

Comparable Sales for 506 E Oceanfront

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
217 E Balboa Blvd, Newport Beach, CA
0.15
Multi-Family Home
$2,700,000
08/19/25
4
2
1,808
1532 Miramar Dr, Newport Beach, CA
0.78
Multi-Family Home
$3,200,000
02/25/26
7
5
3,250
820 W Balboa Blvd, Newport Beach, CA
0.60
Multi-Family Home
$2,650,000
04/07/26
5
6
2,376
222 Marine Ave, Newport Beach, CA
0.76
Multi-Family Home
$3,800,000
05/26/26
6
-
2,500
1510 W Oceanfront, Newport Beach, CA
1.18
Multi-Family Home
$7,100,000
04/27/26
6
5
3,744
215 Marine Ave, Newport Beach, CA
0.73
Multi-Family Home
$4,900,000
06/15/26
3
-
3,080
304 Dahlia Pl, Corona Del Mar, CA
1.43
Multi-Family Home
$3,750,000
07/17/25
5
3
2,062
1825 W Balboa Blvd, Newport Beach, CA
1.45
Multi-Family Home
$2,900,000
04/10/26
4
3
1,887
617 Iris Ave, Corona Del Mar, CA
1.77
Multi-Family Home
$3,220,000
07/21/25
8
6
3,620
1502 Coral Pl, Newport Beach, CA
1.44
Multi-Family Home
$2,876,250
02/17/26
6
3
2,400

Nearby homes

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Assigned Schools

These are the assigned schools for 506 E Oceanfront.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Newport Beach

At least 641 Trulia users voted on each feature.

  • 94 % Say it's dog friendly

  • 85 % Say there are sidewalks

  • 83 % Say car is needed

  • 81 % Say people would walk alone at night

  • 77 % Say there's holiday spirit

  • 75 % Say it's walkable to restaurants

  • 67 % Say it's walkable to grocery stores

  • 67 % Say streets are well-lit

  • 63 % Say yards are well-kept

  • 62 % Say parking is easy

  • 60 % Say kids play outside

  • 60 % Say they plan to stay for at least 5 years

  • 59 % Say it's quiet

  • 53 % Say neighbors are friendly

  • 46 % Say there's wildlife

  • 44 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Trulia User
    "It’s a beautiful place to walk, but lots of kids are on electric bikes and scooters on the sidewalks and it makes for some scary moments"
    0
    Flag
  • Msgeekgal
    "The Christmas boat parade,concerts in the park, pickleball, picnics at beach for neighbors, trick or treating at Harbor View"
    0
    Flag
  • Csgskstmsq
    "I work from home so commuting is not an issue for me. This location requires a car but is very near to freeway access "
    0
    Flag
  • Coryday
    "Not many kids in my neighborhood, the peninsula. A lot of kids visit the beach but only one neighbor on my street has kids"
    0
    Flag
  • Sam Morar
    "My commute is very peaceful and it just makes me so proud to live in New Port Beach. Seriously me and my wife love living here "
    0
    Flag
  • Gprince
    "I work from home - but commuting is relatively easy compared to other areas in Southern California. "
    0
    Flag
  • Morag Webb
    "Safe, family friendly, eclectic, small town feel where you know your neighbors and kids play together after school. Good libraries. Good schools. A great place to grow up!"
    0
    Flag
  • Trulia User
    "Easy to commute to Irvine and San Diego. LA is always going to be challenging. Lots of people work from home I believe"
    0
    Flag
  • Sabrina Skelly
    "I don’t have a commute since I work from home. However, the mornings and after work evenings can be very busy and congested because of the commute on and off the island in peak hours. "
    0
    Flag
  • Cnatashya
    "I don’t know. Just moved here. But the park near me always busy with sports, family’s, and pets with their humans."
    0
    Flag
  • Csgskstmsq
    "A great area for families and singles. There are a lot of activities with year round nice weather to enjoy. "
    0
    Flag
  • Channing ONeill
    "safe and private, clean everyone takes care of their yard and common land. All the dogs are loved and walking with their owner. "
    0
    Flag
  • Simran Brara
    "Short drive to the airport and I’m able to get to San Diego or south oc easily Very good dog town. Great for restaurants "
    0
    Flag
  • michael simon
    "christmas halloween labor day summer all our restaurants all our social activities etc we love it here on Balboa Iskand"
    0
    Flag
  • Sabrina Skelly
    "Everyone is usually very dog friendly to your dog. However, there are not many places to take them potty if you don’t have your own grass/yard. Sometimes people complain about dogs going potty on the beach. Some owners let their dogs just go on the sidewalk. Overall, everyone is pretty good, I’ve just naturally had some interactions over the 7 years here. "
    0
    Flag
  • Jeremy Pascale
    "They wouldn’t like the main highway pacific coast highway being the front yard. It’s very hectic and noisy for dogs . "
    0
    Flag
  • Htaylor708
    "beach proximity. Wonderful restaurants tons of things to do. Fantastic weather almost all year long."
    0
    Flag
  • Flybyman
    "Great views and access to lots of good restaurants and shopping as well as parks and the beach community."
    0
    Flag
  • Cindy irvin
    "Dog owners love walking here, beautiful waterfront. Poop bags everywhere & tons of other dogs to play with. "
    1
    Flag
  • Lisa129
    "Too many entitled dog owners with off-leash dogs. My dog has been attacked twice each by two neighbors' dogs, and honestly don't care at all. Got angry at me for reporting to animal control and blamed my dog despite the fact that we were just walking on the sidewalk."
    1
    Flag
  • Jennifer Campbell
    "Lots of dog walking companies with many many dogs on walking paths. Many mobile groomers in the neighborhood."
    0
    Flag
  • Trulia User
    "Surrounded by water and boats everywhere....and only one way on or off the island means it is safe..."
    0
    Flag
  • Trulia User
    "Like walking their dogs on sidewalks and beautiful scenery. Don’t like that there is no grassy areas for dogs. There’s no dog park. "
    2
    Flag
  • Trulia User
    "Clean and quiet. Neighborly. Kids are well behaved. Trails and parks nearby as well as beach. Extremely nice area. "
    1
    Flag
  • Adrian.salas1737
    "Best food and weather hot spot to enjoy any activity and enjoy the night life put with friends. Highly recommend Newport Beach to anyone, hands down."
    1
    Flag
  • Mpadgett74
    "I’ve lived all over the US. I would highly recommend Newport Beach because of the safety ALONE! I would also recommend it to families with young kids. Safety & great schools are essential:)"
    1
    Flag
  • Norahs750li
    "very nice, private friendly no yearly taxes nice houses dog friendly near the water near restaurants "
    2
    Flag
  • Jen.mcgilloway
    "Stunning sunset views , clean quiet neighborhood , adorable cottages , friendly people for the most part "
    4
    Flag
  • Chase.jaramillo
    "My neighbors are supper friendly and welcoming we do have little block party’s and more all together. We are pretty much a giant family ."
    1
    Flag
  • Karbear82
    "This is a great school district. There are lots of local parks and good views. Neighbors all engage in dog walking and bike riding."
    0
    Flag
  • Erngbrh50
    "The beaches and walking to restaurants is the best. People are super friendly and happy. It’s expensive to live here. "
    0
    Flag
  • Shauna W.
    "It has been a life long dream to move to SoCal, and when the opportunity arose I researched the perfect place....Newporr Coast no doubt! I’ve lived here for a year now and absolutely love everything the hidden secret has to offer! A healthy, safe, paradise to say the least! A dream come true! "
    3
    Flag
  • Kyle
    "Not a lot of young families in this neighborhood but there are some. There are a few small but well equipped parks. Yards are small at most houses so, in most cases, there is not a lot of space for kids to play unless they go to a park. "
    9
    Flag
  • Dan D.
    "That if they move their kids this neighborhood be prepared to buy them the newest and nicest things for them to keep up with all the rich kids that may not be something you’re into but it’s definitely something that goes on here."
    0
    Flag
  • Nate B.
    "It’s a beautiful place with amazing views and friendly people. I love amenities and the sunsets especially."
    0
    Flag
  • Ean K.
    "Excellent schools, excellent area, anyone who knows Newport Coast already knows what it is and why it’s so prestigious."
    0
    Flag
  • Cnash77
    "It’s super quiet and quaint. For a beach town it’s a bit sleepy. Everything closes fairly early, even on the weekend. "
    0
    Flag
  • new neighbor
    "parts of this neighborhood are fine, but a little further up towards Costa Mesa on placentia street there's a few gang related instances have occurred "
    0
    Flag
  • Philip O.
    "We really enjoy attending the Newport Shores Holiday Boutique at the community center. Lots of great gift shopping. "
    0
    Flag
  • Katherine V.
    "CDM is a great community with lots off things to do and everything is in walking distance. Neighbors are friendly and if you can live through the constant construction it is a wonderful place to live"
    0
    Flag

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Homes for sale near 506 E Oceanfront

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Off Market Homes Near 506 E Oceanfront

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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-07-15 04:32:22 PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information