Exceptional opportunity in Newport's historic Nye Beach district! This R-4 zoned lot at 47 SW Coast Street features ocean views and established shared driveway easement along the northern edge. All utilities (water, sewer, electric) available at street. Located in the architectural design review area across from Newport Performing Arts Center and just steps from the beach, restaurants, and shops. Perfect for multi-family development, vacation rentals, or your coastal dream home. The versatile high-density zoning within the vibrant Nye Beach overlay presents endless possibilities. This property sits within the Nye Beach architectural design review district, providing both character and protection for your investment. The R-4 zoning allows for high-density residential development with potential for multiple dwelling units, which is rare in such a prime coastal location. The lot includes a shared driveway easement for ingress and egress to both 47 SW Coast and 29 SW Coast Street along the north edge of the property, simplifying access considerations. With city water, sewer, and electrical utilities already available at the street, development can proceed without the additional expense of extending essential services. City of Newport does have System Development charges. The central location puts you at the heart of Nye Beach's cultural scene - directly across from the Newport Performing Arts Center and within a short distance to the district's eclectic mix of shops, galleries, restaurants, and beach access points. Contact the City of Newport for specific planning requirements and to explore the full potential of this exceptional coastal property.