418 31st Street

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$3,280,000

4,158 Sq.Ft.

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Description

Charming building on a rare double lot (60’ wide) in Cannery Village near the newly redeveloped Lido Marina Village, Lido House Hotel, beaches and bay. This existing commercial building includes eleven leased tenant spaces with long-term tenants. Rents are low with better cash flow potential than most other income opportunities on the Peninsula, including 2-4 unit apartment buildings. Additionally, site zoning is MU-CV/15th St which may permit other redevelopment uses such as new residential, mixed use residential and non-residential commercial uses. As an interior parcel, this site offers other benefits over corner lots in the Village should it be redeveloped. Properties of this type rarely come to market making this an amazing Cannery Village opportunity.

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Location

418 31st Street, Newport Beach, CA 92663

Status

Sold

Property Amenities

Interior

Laundry room None

Area & Lot

Lot Area 5,580 Sq.Ft.

Living area 4,158 Sq.Ft.

MLS® ID NP21102503

Year Built 1956

Type Commercial

Status Sold

Exterior

Stories 1

Water Source Public

Lot Features Level, Rectangular Lot, Street Level, Zero Lot Line

Roof Flat, Rolled/Hot Mop

Utilities Electricity Connected, Sewer Connected

Finance

Sales Price $3,280,000

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