302 Kings Road, Newport Beach CA

Possible 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 $1,685,250 -- good until Oct. 1, 2020. Lease ends 9/30/2038. Yearly lease amount 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/tear down) and the option to purchase the land for $1,445,000. The home and the land prices together total $3,130,250. Being sold as is with no repairs or warranties by seller.
 
 All cash buyer is requested as the home may not be suitable for financing due to the condition.