The beach town of Newport Beach in Orange County, California offers a multiple number of tiny houses for sale. Dating back 100 years ago, Newport Beach was the perfect place to own a small vacation home for those who lived in the bigger cities like Los Angeles, Phoenix and San Francisco. These vacation homes were simply built an often offer one to two bedrooms and less than one thousand square feet. The highest concentration of these homes can be found in the Balboa Peninsula neighborhood where many of these historic homes still exist. However, the trend is to buy these older homes, tear them down and then build a larger brand new construction home. Real Estate prices in this area for a tiny house currently starts at just under $1 Million dollars. This is a highly recommend neighborhood that offers an easy walk to the beach.
Another great place to find these smaller homes is on the many Islands that exist in the Newport Bay. Places like Balboa Island and Newport Island are excellent places to find homes that average under 1,000 square feet. Keep in mind that just because the square footage may be lower than other neighboring properties doesn't mean that you get a deep discount on the home. Balboa Island is notorious for being very expensive with tiny houses for over $3 million dollars. Newport Island is more affordable with a one bedroom home on the market for $1,285,000.
The final place to look for a smaller home is the Lido Peninsula neighborhood. This is a manufactured home community that sits adjacent to the Newport Bay. Real Estate prices for these homes is much more affordable with an average price of $400,000. One of the reasons why these homes are so cheap is that the homes are on lease land. You don't own the land underneath you and pay a monthly land lease fee in addition to the homeowners association dues which can easily average over $2,000 a month. Also, the land lease for some properties are coming due at the end of 2023 which means it is very tough to get financing due to the time period being less than 30 years. To learn more about these types of homes please contact our local Newport Beach Real Estate agents at 949-444-1901.