Real Estate prices have really gone up since the big dip on 2008 as it's getting hard to find any properties in the Newport Beach area for under $500,000. There are still a few select neighborhoods that offer these low prices if you know where to look. These will be residential condos as detached single family homes in Newport Beach on non leased land currently start at $855,000. Here is a quick guide to start your real estate search in Newport Beach.
First, we highly recommend the Versailles complex in Newport Beach. The location offer high marks for value as it's about a 5 block radius to the beach and located next to Hoag Hospital and the Newport Bay. Most of the condos located here can be bought for under $500,000 with select units offering ocean views as well. Currently, there is one active listing in Versailles that features one bedroom, one bath and 465 square feet. It's on the market for $326,000 and has been on the market for 11 days. There are approximately 228 units in this complex and residents enjoy a centrally located community pool, spa, fitness room and outdoor barbecue area. For the price it's very nice as it's all about location in real estate.
The next complex is called the Newport Villas. This is located in the Westcliff area of Newport Beach near the Newport Bay area. This is mainly a residential neighborhoods with some very expensive homes surrounding this complex. There are two units being offers for sale in the Villas for $420,000 and $499,000. The one for $420,000 is located at 1100 Rutland Road and features one bedroom, one bath and 680 square feet of living space. It is very light and bright and white cabinetry throughout and a detached 1 car garage as well with extra storage. This condo has been on the market for 17 days and is sure to sell fast. The other unit located at 1200 Rutland is on the market for $499,000 and features two bedrooms, two baths with 1,070 square feet. Both of these condos were built in the early 1960's. Monthly association dues run $400.00 month and includes use of the community pool.
One final place to look is the Seawind condo community. Seawind is actually located across the street from the Versailles complex and offers condos located near the beach as well. There is currently one condo listed under contract for $499,888 that features two bedrooms, one bath and 1,004 square feet of living space. This is a very small neighborhood with a community pool and spa. Monthly dues currently run $515.00 a month and include trash pickup as well. Newport Beach can be a tricky place to find a place based on a tight budget. We love challenges so please contact us at 949-444-1901 with your exact wants and needs.