1007 E Balboa Boulevard, Newport Beach, CA 92661
- $8,500,000
- Sold Price
- $8,500,000
- List Price
- $9,500,000
- Closing Date
- Aug 22, 2024
- Status
- CLOSED
- MLS#
- NP24109926
- Year Built
- 1909
- Lot Size
- 3,600
- Acres
- 0.08
- Lot Location
- Street Level
- Days on Market
- 0
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property Description
A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
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Additional Information
- Appliances
- Dishwasher, Freezer, Gas Oven, Gas Range, Microwave, Refrigerator
- Pool Description
- None
- Heat
- Space Heater
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- Catalina, Coastline, Ocean, Panoramic
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Bedroom on Main Level
- Attached Structure
- Detached
- Number Of Units Total
- 10
- Gross Scheduled Income
- $985,144
- Operating Expense
- 344839
Listing courtesy of Listing Agent: George Hanold (george@timesrealestateca.com) from Listing Office: Times Real Estate CA.
Listing sold by George Hanold from Times Real Estate CA
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.