Seller's Agent in 2024
George Hanold
Times Real Estate CA
(949) 675-0404
1 in this area
127 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
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $70,706 | $8,500,000 | $8,323,262 | $176,738 |
| 2024 | $70,706 | $6,466,842 | $5,797,532 | $669,310 |
| 2023 | $69,031 | $6,340,042 | $5,683,855 | $656,187 |
| 2022 | $67,865 | $6,215,728 | $5,572,407 | $643,321 |
| 2021 | $66,575 | $6,093,851 | $5,463,144 | $630,707 |
| 2020 | $65,933 | $6,031,367 | $5,407,127 | $624,240 |
| 2019 | $64,597 | $5,913,105 | $5,301,105 | $612,000 |
| 2018 | $63,321 | $5,797,162 | $5,197,162 | $600,000 |
| 2017 | $15,594 | $1,255,998 | $1,151,734 | $104,264 |
| 2016 | $15,266 | $1,231,371 | $1,129,151 | $102,220 |
| 2015 | $15,108 | $1,212,875 | $1,112,190 | $100,685 |
| 2014 | $14,758 | $1,189,117 | $1,090,404 | $98,713 |
Source: Public Records
Agents Affiliated with this Home
-
George Hanold
-
Regan Beegle
Seller Co-Listing Agent in 2024
Regan Beegle
Times Real Estate CA
(949) 836-5480
1 in this area
142 Total Sales
-
Shannon Brown
Seller's Agent in 2020
Shannon Brown
STEVEN M BROWN & ASSOCIATES
(949) 584-1689
5 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP24109926
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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