$2,175,000
$2,350,000
7.4%For more information regarding the value of a property, please contact us for a free consultation.
3,049 Sqft Lot
SOLD DATE : 03/18/2020
Key Details
Sold Price $2,175,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Balboa Peninsula (Residential) (Balp)
MLS Listing ID NP19240231
Sold Date 03/18/20
HOA Y/N No
Year Built 1953
Lot Size 3,049 Sqft
Property Description
Located just 2 houses from the sand makes this a highly desirable 4-plex on Newport’s Balboa Peninsula. This income property offers excellent income with minimal vacancy for any investor. All units are currently occupied with qualified long-term tenants. Each unit was renovated in 2006. The ground-level features a front 2-bedroom 2-bathroom unit and a separate one-bedroom unit off the back of the property. The second floor has two separate 2-bedroom 1-bathroom units. Both units on the second level have vaulted ceilings which lend a bright and airy ambiance to the space. Each unit comes with a parking spot in the rear carport off the alley. With a prime location on the peninsula, this coastal income property is just steps from some of the best beaches in the area. This 4-plex has much higher income potential than most other investment properties on the peninsula at this price point.
Location
State CA
County Orange
Area Np - Balboa Peninsula
Interior
Fireplace No
Laundry Inside
Exterior
Parking Features Attached Carport, Assigned
Carport Spaces 4
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 04726326
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Financing Cash
Special Listing Condition Standard
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Bought with Samar Okung • Keller Williams Costa Mesa
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "