1213 W Balboa BLVD Newport Beach, CA 92661
Active
$3,100,000
3 Units
5 Beds
5 Baths
2,284 Area(sq.ft.)
3,049 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 2,850 | $ 2,850 | $ 3,300 |
| Unit 2 | 1 | 2 | 2 | No | $ 2,250 | $ 2,250 | $ 3,300 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,650 | $ 2,650 | $ 2,650 |
| 3 | 3 | 5 | 5 | $ 7,750 | $ 7,750 | $ 9,250 |
| MLS #: | PW24187699MR |
| Days On Market: | 36 |
| County: | Orange County |
| Property Type: | Residential Income |
| Price per ft2: | $ 1,357 |
| Price per unit: | $ 1,033,333 |
| Year Built: | 1952 |
Property Details
Development Opportunity: Two adjacent lots near the beach with a combined 6098 square feet of lot space in the 1st 100 block of Balboa Blvd., this unique offering at 1213 & 1209 W. Balboa Blvd. presents endless possibilities for investors and developers while generating almost $16,000 in combined monthly property income as you develop plans for future improvements. 1213 W. Balboa Blvd. features three spacious income apartments. The apartment homes include two 2-bedroom, 2-bath units one upstairs and one downstairs and a 1-bedroom, 1-bath unit located above the garages. The property also consists of a two-car garage, a one-car garage, and three tandem parking spots behind the garages. Tenants share the community laundry room located at 1209 W. Balboa Blvd. Together, these two lots provide a range of development opportunities. You could build your dream home, construct a home with an ADU, develop condos, or reconstruct and maintain them as income-generating apartments. Don t miss this chance to own two side-by-side beach-close lots with incredible potential.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Rent Control: | False |
| Gross Operating Income: | $ 91,929 |
| Total Annual Expense: | $ 21,988 |
| Net Operating Income: | $ 67,941 |
| Cap Rate: | 1.85% |
| Gross Rent Multiplier: | 33.72 |
| Actual Gross Rent: | $ 7,750 |
Structure
| Community Features: | Gutters |
| Sewer: | Public Sewer |
| View Description: | None |
| Water: | Public |
Land & Parking
| Zoning: | 31 |
| Land Lease Type: | Fee |
| Parking Garage: | Assigned, Garage |
Interior
| Cooking Appliances: | Range |
| AC/Cooling: | None |
| Equipment: | None |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | None |
| Laundry Equipment: | Lease |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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