Next stop on Annie’s Duffy Diaries:
Lido Peninsula
Last week I had a client send me a text about a property that they had found on Zillow and the price seemed to good to be true. The home was in an area off of Lido Island and it was listed for $759,000. The area is called Lido Peninsula and it spans 23 acres off of Lido Island in Newport Beach.
Currently, the lowest priced home in this area is $430,000 for a one bedroom and one bath, with the highest being $950,000, for a two bedroom and two and one-half bath, but there is a catch. Newport Beach still has some areas of leased land, and these particular properties are manufactured homes that sit on privately owned leased land.
The particular property my client texted me about had a lease payment of $2,971 a month, but was not located on a street with a view. Some of these mobile homes sit on Anchorage and Beach Way, where you have amazing harbor views. Those properties due to the location and view have lease payments that can be $6,000+ a month and the lease payments depend on both the location, and the size of the mobile home.
But when you look across the bay to homes that range between $10 and $15 million on Lido Island for a somewhat similar view, that mobile home seems pretty cool.
