1140 W Balboa Boulevard, Newport Beach, CA 92661

$2,495,000
List Price
$2,495,000
Status
ACTIVE
MLS#
OC22233646
Year Built
1955
Lot Size
3,049
Acres
0.07
Lot Location
Rectangular Lot
Days on Market
89
Property Type
Multifamily
Property Sub Type
Duplex
Stories
One Level, Two Levels
Neighborhood
Balboa Peninsula (Residential) (Balp)

Property Description

A unique opportunity to acquire a Residential Duplex on Balboa Boulevard in Newport Beach, CA. The Residential Duplex consists of a one unit that is comprised of a 3 bedroom / 2 bathroom and another unit that is a 2 bedroom /1 bathroom. Both units are currently on MTM Leases at below market rent, which allows an investor the opportunity to bring the units to market rent. In addition, the duplex currently zoned for R-2, which allows for short term lodging (less than 30 consecutive days) with a city permit. The subject property is located in Newport Beach, CA, specifically in the affluent neighborhood of Balboa Peninsula. The duplex is ideally located on Balboa Boulevard near 11th street, which is a couple blocks from the beach and the bay. commonly known as the Balboa Peninsula of Newport Beach, CA. The property is within walking distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and numerous restaurants and shops. The duplex is within a few miles of Hoag Hospital, which regionally and nationally ranked by U.S. News & World Report.

Additional Information

Pool Description
None
Garage Spaces Total
2
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
2
Gross Scheduled Income
$84,000
Operating Expense
31753

Listing courtesy of Listing Agent: Philip Immel (VIP@ImmelTeam.com) from Listing Office: Pacific Sotheby's International Realty.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

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.