About Beacon Bay Homes For Sale
Beacon Bay homes for sale are located off Harbor Island Dr in Newport Beach, Ca. The Beacon Bay community consists of 73 homes facing Beacon Bay in Newport Harbor. Looking north you have Promontory Bay and to the south you will see Balboa Island. These homes are all on leased land and when a new home is purchased typically a new 50 year lease is issued at 2.5% of the purchase price. Many of the homes in Beacon Bay are waterfront looking at Harbor, Bay, or Balboa Island.
Beacon Bay Homes
Beacon Bay homes may be on an Island but many restaurants and activities are still within walking distance. Some of the restaurants within a short walk are:
- Sol Cocina
- 3 Thirty 3 Waterfront
- Bayside Restaurant
- Tutti Frutti Frozen Yogurt
- The Village Inn
Within a short drive the world is your oyster as Fashion Island, Corona Del Mar, South Coast Plaza and the Balboa peninsula are all within a short drive.
As a resident of Beacon Bay there are also a number of amenities that are available to you. Ammenities for homeowners are: launching dock, basketball court, boat storage, tennis courts, play park and of course the private beach. The homeowners association dues are a reasonable $125 per month in addition to the land lease.
Beacon Bay is on leased land. What that means is when you purchase your home you own the home but not the land. When you purchase you sign a 50 year lease for the land and the annual payment for the land lease in Beacon Bay is 2.5% of the purchase price. In addition there are annual CPI adjustments to that as well. Also, you will also pay the property taxes which will run approximately 1.3% annually. When buying a home in Beacon Bay its best to assume a little under 4% of the purchase price for annual payments of taxes and land lease.
Beacon Bay is a very family friendly community and the schools in the area are fantastic! If your child is in grades K-6 they will attend Abraham Lincoln Elementary School and grades 7-12 will attend Corona Del Mar Junior and Senior High School. All three schools are some of the top schools in Newport and in the state of California
For more information on buying or selling Beacon Bay homes or real estate in any of the Newport Beach communities, contact one of our Beacon Bay REALTORS® today!