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1007 E Balboa Boulevard

Newport Beach, CA 92661
  • $11,800,000
  • STATUS: Active
  • ON SITE: 40 Days
  • ID#: OC22069325
UPDATED: 77 min ago
$11,800,000
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1909
County:

School Ratings & Info

Listing Agent(s): Shevy Akason of Keller Williams Realty N. Tustin (714-426-3800) and Adam Lillestrand of Keller Williams Realty N. Tustin(714-426-3800)


Description

Rare investment opportunity to purchase 10 profitable rental units located ocean front on the Balboa Peninsula between the pier and the wedge. You will not find another investment opportunity on the Peninsula with 10 units.. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning income day one. Four of the units feature unobstructed panoramic views of the ocean, Catalina and sunsets. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and board walk, play at the ocean front park and grab a coffee at one of the many cafes. There are three driveway parking spots and coin operating inside laundry room for the tenants.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T21:30:18.813. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127686692
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1007 E Balboa Boulevard Newport Beach, CA 92661

  • Price: $11,800,000
  • Status: Active
  • On Site: 40 Days
  • Updated: 77 min ago
  • ID#: OC22069325
0
Beds
0
Baths
0
½ Baths
0.08
Acres
1909
Built
Neighborhood:
Other (Othr)
County:
Orange
Area:
NP - Balboa Peninsula
Property Description
Rare investment opportunity to purchase 10 profitable rental units located ocean front on the Balboa Peninsula between the pier and the wedge. You will not find another investment opportunity on the Peninsula with 10 units.. The property comes with short term rental permits, the current waiting list for permits it's 100's deep. The units are furnished, professionally designed, recently remodeled, and fully operating. Stop into a fully operating successful vacation rental, earning income day one. Four of the units feature unobstructed panoramic views of the ocean, Catalina and sunsets. Enjoy all ocean front living on the Peninsula has to offer including the beach, the waves, beautiful sunsets, the pier and park. Ample entertainment options like the Balboa Fun Zone, ferry to Balboa Island, shops and great restaurants are just a short walk away. Your own porch right on the beach, ocean view of the world famous wedge to the Balboa Pier, you can't beat this location. Boogie board, surf, bike, stroll the pier and board walk, play at the ocean front park and grab a coffee at one of the many cafes. There are three driveway parking spots and coin operating inside laundry room for the tenants.
Exterior Features

Lot Features 0-1 Unit/AcreLevelNear Park Number Of Separate Electric Meters 1 Parking Features Driveway Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No View Ocean View YN Yes

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features Street LightsSidewalksPark Electric Expense 500 Fuel Expense 0 Garage YN No Gross Income 688000 Gross Scheduled Income 688000 Insurance Expense 5000 Land Lease YN No Laundry Features Common AreaInsideLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional1031 ExchangeOwner Will CarryOwner May CarrySubmit Net Operating Income 390630 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 303000 Property Condition Updated/RemodeledTurnkey Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays None Trash Expense 200 Water Sewer Expense 300 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T21:30:18.813. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Shevy Akason of Keller Williams Realty N. Tustin (714-426-3800) and Adam Lillestrand of Keller Williams Realty N. Tustin(714-426-3800)