109 E Balboa Boulevard, Newport Beach, CA 92661
- $3,350,000
- Sold Price
- $3,350,000
- List Price
- $3,380,000
- Closing Date
- Nov 18, 2024
- Status
- CLOSED
- MLS#
- NP24177675
- Year Built
- 1959
- Lot Size
- 2,178
- Acres
- 0.05
- Lot Location
- 2-5 Units/Acre
- Days on Market
- 0
- Property Type
- Multifamily
- Property Sub Type
- Triplex
- Stories
- Three Or More Levels
- Neighborhood
- Balboa Peninsula (Residential) (Balp)
Property Description
Situated just one house from the boardwalk and mere blocks from the lively Balboa Village and Fun Zone, this three-story triplex offers prime coastal living and an exceptional investment opportunity. Priced at $1,200 per square foot—well below the average for comparable properties on the Balboa Peninsula—this property presents significant value. With all tenants on month-to-month leases, it’s a great redevelopment opportunity or a chance to collect steady rental income and benefit from future appreciation. Designed and built by renowned architect Svend Nielsen, the property exudes unique charm and thoughtful design. Each of the three units includes 2 bedrooms, 1 bathroom, and in-unit laundry for convenience. The second and third-floor units enjoy peek-a-boo ocean views, while all units offer private outdoor spaces, including balconies. Additional amenities include a two-car carport for the second- and third-floor units, a ground-floor private shower room, and recent upgrades such as a roof replacement in 2023, a Tesla solar system, and smart home features, including automated blinds, thermostats, and a security system—all controllable remotely. The property is professionally managed, generating stable income with the potential for future rent growth. Don’t miss this rare opportunity to invest in a prime coastal location with endless possibilities.
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Additional Information
- Appliances
- Dishwasher, Electric Cooktop
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Fireplace(s), Wall Furnace
- Cooling Description
- None
- View
- Coastline, Neighborhood, Ocean, Peek-A-Boo
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Balcony, Ceiling Fan(s), Galley Kitchen
- Attached Structure
- Attached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $113,511
- Operating Expense
- 48168
Listing courtesy of Listing Agent: Greg Blake (gregblake@timsmithgroup.com) from Listing Office: Coldwell Banker Realty.
Listing sold by Jack Huang from First Class Real Estate Inc.
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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.