Seller's Agent in 2024
George Hanold
Times Real Estate CA
(949) 836-5479
1 in this area
130 Total Sales
1007 E Balboa Blvd Newport Beach, CA 92661
Balboa Peninsula Point Neighborhood
1
Bed
1
Bath
4,704
Sq Ft
3,600
Sq Ft Lot
Highlights
- Beach Front
- White Water Ocean Views
- Main Floor Bedroom
- Newport Elementary School Rated A
- Property has ocean access
- 1-minute walk to Balboa Peninsula Park
About This Home
As of August 2024A remarkable opportunity to own 10 Units on the Oceanfront of the Balboa Peninsula with 7 Irreplaceable STR's (SHORT TERM RENTAL PERMITS)! This is a dream deal w/ a monster cap rate and a whopping $640,000 NET income in 2023! Located almost perfectly right next to Balboa Pier, Balboa Fun Zone, Balboa Ferry, Market & Deli, Shopping, Restaurants, Arcades, and More. Each unit is remodeled and ready to be rented immediately. 4 of the Units are directly facing the oceanfront with spectacular panoramic views, including the Pier. Priced to sell and motivated deal. APN 048-146-04 (additional 1,519 sqft parcel on sand/beach) also included.
Last Agent to Sell the Property
Times Real Estate CA Brokerage Phone: 949-836-5479 License #01446306 Listed on: 05/31/2024
Last Buyer's Agent
Times Real Estate CA Brokerage Phone: 949-836-5479 License #01446306 Listed on: 05/31/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1909
Lot Details
- 3,600 Sq Ft Lot
- Beach Front
- No Common Walls
- Level Lot
Property Views
- White Water Ocean
- Coastline
- Catalina
- Panoramic
Home Design
- Quadruplex
Interior Spaces
- 4,704 Sq Ft Home
- 2-Story Property
- Living Room
- Laundry Room
Kitchen
- Gas Oven
- Gas Range
- Microwave
- Freezer
- Dishwasher
Bedrooms and Bathrooms
- 1 Bedroom
- Main Floor Bedroom
- 1 Bathroom
Parking
- 3 Open Parking Spaces
- 3 Parking Spaces
- Parking Available
- Driveway
Outdoor Features
- Property has ocean access
- Exterior Lighting
Utilities
- Cooling System Mounted To A Wall/Window
- Space Heater
Listing and Financial Details
- Legal Lot and Block 4 / 16
- Tax Tract Number 105
- Assessor Parcel Number 04814404
- $2,569 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 10 Units
- Balboa Peninsula Subdivision
Amenities
- Laundry Facilities
Recreation
- Park
- Bike Trail
Building Details
- 10 Leased Units
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Operating Expense $344,839
- Gross Income $985,144
- Net Operating Income $640,305
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/22/2024 08/22/24 | Sold | $8,500,000 | -10.5% | $1,807 / Sq Ft |
| 07/26/2024 07/26/24 | Pending | -- | -- | -- |
| 07/12/2024 07/12/24 | Price Changed | $9,500,000 | -13.6% | $2,020 / Sq Ft |
| 06/20/2024 06/20/24 | Price Changed | $11,000,000 | -15.4% | $2,338 / Sq Ft |
| 05/31/2024 05/31/24 | For Sale | $12,995,000 | 0.0% | $2,763 / Sq Ft |
| 05/18/2020 05/18/20 | Rented | $3,400 | +21.4% | -- |
| 05/18/2020 05/18/20 | Under Contract | -- | -- | -- |
| 04/29/2020 04/29/20 | For Rent | $2,800 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
Seller Co-Listing Agent in 2024
Regan Beegle
Times Real Estate CA
(949) 836-5480
1 in this area
147 Total Sales
-
Seller's Agent in 2020
Shannon Brown
STEVEN M BROWN & ASSOCIATES
(949) 584-1689
4 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP24109926
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