507 29th Street
$3,495,000
4
3
1
3,096
3,096
$1,129
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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...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.
- Listed by Larry Birnbaum • DRE #01363487 • Brokerage DRE #01363487 • LMB Enterprises • 714-655-8108
Property Details for 507 29th Street
Architectural Style
Mediterranean
ViewBay, Harbor, Water
Parking Spaces Total6
Private PoolNo
Cooling TypeN/K
Total Units2.0
Building TypeDetached
Lot Size SourceAssessor
LISTING UPDATED: 09/08/2024 01:06 PM
Property Details for 507 29th Street
Status | Active |
---|---|
MLS # | OC24159586 |
Days on Market | 49 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Condo |
MLS Type | Residential / Condominium |
Year Built | 1989 |
County | Orange County |
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Building Information for 507 29th Street
Building/Complex507 29th StFloor-Stories2Residences-Pet Policy-Year Built1989
Property Information for 507 29th Street
Property History for 507 29th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 507 29th Street
Taxable ValueLand$347,367Additions$373,782Total$721,149
Tax Record2023$8,609 ($717 / month)
Home Facts
Total Finished SqFt575 SqFtAbove Grade Finished SqFt575 SqFtLot Size3,065 SqFtStyleMiscellaneous CommercialYear Built1936CountyORANGEAPN047-033-17
Schools near 507 29th Street
This home is within Newport-Mesa Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 12 |
Rating | School | Distance |
---|---|---|
Newport Elementary School PublicK to 6 | ||
Horace Ensign Intermediate School Public7 to 8 | ||
Newport Harbor High School Public9 to 12 | ||
Monte Vista High School PublicK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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