Skip main navigation
Sold for $4,950,000
  • Listed by: Bayless Real Estate • Kevin Bayless • Contact: kbayless@leeirvine.com
    Bought with: NONMEMBER MRML
    $4,950,000

    501 Park Ave, Newport Beach, CA 92662

    4beds
    3baths
    5,080sqft
    Mixed Use
    Built in 2015
    -- sqft lot
    $5,333,100 Zestimate®
    $974/sqft
    $7,629 Estimated rent

    Home value

    $5,333,100

    $4.80M - $5.92M

    $7,629/mo

    Zestimate® history
    Loading
    Loading...

    Owner options

    List your home for rent

    $7,629/mo

    Rent Zestimate®

    Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.

    Learn more

    $7,629/mo

    Rent Zestimate®

    Refinance and save

    $30,764/mo

    Est. payment

    Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.

    See today's rates

    $30,764/mo

    Est. payment

    Explore your selling options

    Work with a Zillow partner agent

    Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.

    Get started

    List with your own agent

    Get your home in front of millions of buyers by listing it on Zillow.

    Learn how to do it

    Sell it yourself

    Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).

    List your home

    What's special

    THE PROPERTY: Welcome to your slice of paradise on Balboa Island in Newport Beach! This exquisite property offers an unparalleled opportunity to own a top-performing restaurant with two stunning apartments above, all completely rebuilt to perfection in 2015. THE RESTAURANT: Step into the heart of culinary excellence as you enter the spacious and inviting restaurant and bar area. Bathed in natural light pouring through large windows, this space exudes warmth and charm. With ample room for indoor and outdoor seating and a meticulously designed kitchen equipped with top-of-the-line appliances, it’s a dream canvas for creativity. THE LOCATION Situated in the heart of Balboa Island, this property enjoys a prime location in one of Newport Beach’s most coveted neighborhoods. Surrounded by quaint shops, charming cafes, and scenic waterfront vistas, residents and visitors alike are drawn to the vibrant energy and unparalleled beauty of this coastal community. With easy access to the Balboa Island Ferry, nearby beaches, and an array of recreational activities, the possibilities for adventure and relaxation are endless.

    Zillow last checked:

    Listing updated:

    Listed by:

    Kevin Bayless DRE #01788899 kbayless@leeirvine.com,

    Bayless Real Estate

    Bought with:

    Alex Matar, DRE #01990417

    NONMEMBER MRML

    Source: CRMLS,MLS#: OC24090681MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 4
    • Bathrooms: 3
    Heating
    • Central
    Cooling
    • Central Air
    Appliances
    • Laundry: None
    Features
    • Common walls with other units/homes: No Common Walls
    Interior area
    • Total structure area: 5,080
    • Total interior livable area: 5,080 sqft

    Property

    Parking
    • Total spaces: 1
    • Parking features: Garage
    • Garage spaces: 1
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: Front
    • Pool features: None
    Lot
    • Size: 5,100 Square Feet
    • Features: Corner Lot
    Details
    • Additional parcels included: 05005236
    • Parcel number: 05005235
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Mixed Use
    Condition
    • New construction: No
    • Year built: 2015

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Features: Fishing, Water Sports
    • Subdivision: Balboa Island - Main Island (Balm)
    Location
    • Region: Newport Beach

    Financial & listing details

    • Price per square foot: $974/sqft
    • Tax assessed value: $1,887,000
    • Date on market: 5/6/2024
    • Cumulative days on market: 95 days
    • Listing terms: Cash

    Price history

    DateEventPrice
    9/20/2024Sold$4,950,000$974/sqft
    Source: CRMLS #OC24090681 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2026-- $1,887,000 +2%
    2025$23,208 +16.8%$1,850,000 +21%
    2024$19,878 +2.6%$1,529,338 +2%
    2023$19,373 +17.2%$1,499,351 +2%
    2022$16,525 +1.9%$1,469,952 +2%
    2021$16,215 +1%$1,441,130 +1%
    2020$16,058 $1,426,353 +2%
    2019$16,058 +2%$1,398,386 +2%
    2018$15,742 +9.2%$1,370,967 +7.7%
    2017$14,414 $1,272,586 +1.9%
    2016$14,414 +2.2%$1,248,282 +1.5%
    2015$14,105 $1,229,532
    Find assessor info on the county website

    Neighborhood: 92662

    Nearby schools

    GreatSchools rating
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $5,333,100
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $5,333,100