MLS® ID: NP19123957
302 Kings Road
Newport Beach, California, 92663 $1,600,000
Probable harbor turning basin and ocean view from a new second story. Garage access off cul-de-sac in rear shared by 10 homes so not necessary to add a driveway to the front of the property. This property is on Irvine company leased land. Purchase price for the land is $1,638,000 -- good until Oct. 1, 2019. Lease ends 9/3/2038. Yearly lease is $10,400. Property is reappraised every quarter. That would be a separate escrow with the Irvine company. Sellers are selling the assumption of the lease, improvements (the house) and the option to purchase the land for $1,600,000. The home and the land prices together total $3,238,000. Being sold as is with no repairs or warranties by seller.