NOT LISTED FOR SALE

1028 W Balboa Blvd Newport Beach, CA 92661

Central Newport Beach Neighborhood
5 Beds
3 Baths
2,590 Sq Ft
3,049 Sq Ft Lot

Last Sold December 27, 2021

Last sale price $2,675,000 $1,033 Per Sq Ft

5 Days on Market

Highlights

  • Balcony
  • Parking Storage or Cabinetry
  • Ceramic Tile Flooring
  • Newport Elementary School Rated A

About This Home

As of December 2021

Located steps from the beach and bay, this triplex presents the golden opportunity for an investor to purchase a trophy-location residential income asset in the heart of the highly sought-after Balboa Peninsula. 1028 W Balboa consists of three well-maintained units: a spacious two-bed/one-bath front unit, a completely renovated and turn-key one-bed/one-bath middle unit, and an even larger two-bed/one-bath back unit with a private balcony. The ally-facing carport features parking for three large cars plus locking storage. As a legal grandfathered triplex, this property's incredible location and key zoning offers tremendous upside for investors and provides buyers seeking to owner-occupy the opportunity to cash flow two units while living in one. Centrally located just blocks from numerous top-notch restaurants, premier retail destinations, and leisure activities. When considering the sum of great wealth accumulation through asset appreciation, along with the in-demand area's continuous growth in rental demand, this property is an ideal investment with great asset security for any smart investor looking to own on the coveted Balboa Peninsula. PROPERTY VIDEO: https://youtu.be/QI8Mane_H0U

Last Agent to Sell the Property

Andy Kaiser

Matthews Real Estate Investment Services License #02016818 Listed on: 11/11/2021

Last Buyer's Agent

Aneeta Kumar

Keller Williams Realty License #01325889

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 3,049 Sq Ft Lot
  • Lot Dimensions are 100x31

Interior Spaces

  • 2,590 Sq Ft Home
  • 2-Story Property
  • Ceramic Tile Flooring

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Parking

  • 3 Car Garage
  • 3 Carport Spaces
  • Parking Storage or Cabinetry

Outdoor Features

  • Balcony

Community Details

  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 047-264-24

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2590
  • Lot Acreage: 0.0700
  • Lot Dimensions: 100x31
  • Stories: 2
  • Year Built: 1964
  • Number Of Photos: 21
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Bedrooms: 5
  • Total Bathrooms: 3.00
  • Price Per S Q F T: 1001.93

Exterior Features

  • Other Structures: Other
  • Patio: Balcony

Garage/Parking

  • Carport Spaces: 3
  • Parking Garage: Built-In Storage, Carport, Covered Parking
  • Total Parking: 3

Utilities

  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 22.25
  • Assessed Improvement Value: 117650
  • Assessed Land Percent: 77.75
  • Assessed Land Value: 411022
  • Total Assessed Value: 528672
  • Assessor Parcel Number: 047-264-24
  • Lot Size Area: 3049

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 45.80
  • Number Of Units: 3
  • Total Annual Expense: 32359
  • Type Of Units: Apartments
  • Vacancy Allow Percent: 2.00
  • Vacancy Rate: 0

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/27/2021 12/27/21 Sold $2,675,000 +3.1% $1,033 / Sq Ft
11/17/2021 11/17/21 Pending -- -- --
11/11/2021 11/11/21 For Sale $2,595,000 -- $1,002 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2021

    Andy Kaiser

    Matthews Real Estate Investment Services

    Section Image
  • Aneeta Kumar

    Buyer's Agent in 2021

    Aneeta Kumar

    Keller Williams Realty

    (714) 348-3400

    2 in this area

    16 Total Sales

    Aneeta Kumar
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 21-100203

The MLS
California Orange County Newport Beach 92661 Central Newport Beach

1028 W Balboa Blvd, Newport Beach, CA

This home is located at 1028 W Balboa Blvd, Newport Beach, CA 92661 since 11 November 2021. This property was built in 1964. 1028 W Balboa Blvd is a home located in Orange County with nearby schools including Newport Elementary School, Horace Ensign Intermediate School, and Newport Harbor High School.

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