Seller's Agent in 2023
The ImmelTeam
Pacific Sothebys
(949) 212-7676
1 in this area
42 Total Sales
1140 W Balboa Blvd Newport Beach, CA 92661
Central Newport Beach NeighborhoodEstimated Value: $2,400,000 - $3,102,572
5
Beds
3
Baths
2,250
Sq Ft
$1,285/Sq Ft
Est. Value
Highlights
- Across the Road from Lake or Ocean
- Ocean Side of Highway 1
- Rectangular Lot
- Newport Elementary School Rated A
- Laundry Room
- 4-minute walk to Newport Beach Playground
About This Home
As of May 2023A 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.
Last Agent to Sell the Property
Pacific Sotheby's Int'l Realty License #00545198 Listed on: 11/02/2022
Last Buyer's Agent
Pacific Sotheby's Int'l Realty License #00545198 Listed on: 11/02/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $22,089
Year Built
- Built in 1955
Lot Details
- 3,049 Sq Ft Lot
- No Common Walls
- Rectangular Lot
Parking
- 2 Car Garage
Home Design
- Duplex
Interior Spaces
- 2,250 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
- Laundry in Garage
Additional Features
- Ocean Side of Highway 1
- Across the Road from Lake or Ocean
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 11 / 111
- Tax Tract Number 234
- Assessor Parcel Number 04726322
- $501 per year additional tax assessments
Community Details
Overview
- 2 Units
- Balboa Peninsula Subdivision
Recreation
- Water Sports
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $937
- Trash Expense $156
- Water Sewer Expense $781
- Operating Expense $31,753
- Gross Income $82,320
- Net Operating Income $50,567
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 2, 2022
Closed on
Apr 21, 2023
Sold by
Coldren Michael Bruce
Bought by
Coldren Shawn M
Seller's Agent
The ImmelTeam
Pacific Sotheby's Int'l Realty
Buyer's Agent
The ImmelTeam
Pacific Sotheby's Int'l Realty
List Price
$2,495,000
Sold Price
$2,375,000
Premium/Discount to List
-$120,000
-4.81%
Views
95
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$516,393
Avg. Annual Appreciation
5.65%
Original Mortgage
$500,000
Outstanding Balance
$488,660
Interest Rate
6.6%
Mortgage Type
New Conventional
Estimated Equity
$2,204,877
Purchase Details
Listed on
Nov 2, 2022
Closed on
Apr 8, 2023
Sold by
Montfort Capital Management Llc
Bought by
Coldren Shawn M and Coldren Dustin Michael
Seller's Agent
The ImmelTeam
Pacific Sotheby's Int'l Realty
Buyer's Agent
The ImmelTeam
Pacific Sotheby's Int'l Realty
List Price
$2,495,000
Sold Price
$2,375,000
Premium/Discount to List
-$120,000
-4.81%
Views
95
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Outstanding Balance
$488,660
Interest Rate
6.6%
Mortgage Type
New Conventional
Estimated Equity
$2,204,877
Purchase Details
Closed on
Jul 16, 2018
Sold by
Hotspur Real Estate Llc
Bought by
Montfort Capirtal Management Llc
Purchase Details
Listed on
Jun 19, 2017
Closed on
Aug 23, 2017
Sold by
Sciarra John M and Sciarra Michele M
Bought by
Hotspur Real Estate Of Llc
Seller's Agent
Jon Dishon
Arbor Real Estate
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$2,099,000
Sold Price
$1,850,000
Premium/Discount to List
-$249,000
-11.86%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.86%
Purchase Details
Closed on
Oct 16, 2003
Sold by
Sciarra John M and Sciarra Michele M
Bought by
Sciarra John M and Sciarra Michelle M
Purchase Details
Closed on
Apr 23, 2002
Sold by
Larson Christine M
Bought by
Sciarra John M and Sciarra Michele M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
7.18%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 26, 1995
Sold by
Benson John Christian and Benson Karen
Bought by
Larson Christine M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$295,000
Interest Rate
7.88%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Coldren Shawn M | -- | Lawyers Title Company | |
| Coldren Shawn M | $2,375,000 | Lawyers Title Company | |
| Montfort Capirtal Management Llc | -- | None Available | |
| Hotspur Real Estate Of Llc | $1,804,000 | Fntg | |
| Sciarra John M | -- | -- | |
| Sciarra John M | $640,000 | American Title Co | |
| Larson Christine M | $300,000 | Guardian Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Coldren Shawn M | $500,000 | |
| Previous Owner | Sciarra John M | $417,000 | |
| Previous Owner | Sciarra John M | $400,000 | |
| Previous Owner | Sciarra John M | $400,000 | |
| Previous Owner | Larson Christine M | $295,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/02/2023 05/02/23 | Sold | $2,375,000 | -4.8% | $1,056 / Sq Ft |
| 02/24/2023 02/24/23 | Pending | -- | -- | -- |
| 11/02/2022 11/02/22 | For Sale | $2,495,000 | +34.9% | $1,109 / Sq Ft |
| 09/15/2017 09/15/17 | Sold | $1,850,000 | -11.9% | $823 / Sq Ft |
| 08/24/2017 08/24/17 | Pending | -- | -- | -- |
| 06/19/2017 06/19/17 | For Sale | $2,099,000 | -- | $933 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $22,089 | $2,095,860 | $1,985,618 | $110,242 |
| 2024 | $22,089 | $2,054,765 | $1,946,684 | $108,081 |
| 2023 | $21,203 | $1,972,662 | $1,868,054 | $104,608 |
| 2022 | $20,848 | $1,933,983 | $1,831,426 | $102,557 |
| 2021 | $20,450 | $1,896,062 | $1,795,515 | $100,547 |
| 2020 | $20,254 | $1,876,621 | $1,777,104 | $99,517 |
| 2019 | $19,838 | $1,839,825 | $1,742,259 | $97,566 |
| 2018 | $19,445 | $1,803,750 | $1,708,097 | $95,653 |
| 2017 | $9,059 | $814,519 | $687,475 | $127,044 |
| 2016 | $8,859 | $798,549 | $673,996 | $124,553 |
| 2015 | $8,774 | $786,555 | $663,872 | $122,683 |
| 2014 | $8,568 | $771,148 | $650,868 | $120,280 |
Source: Public Records
Agents Affiliated with this Home
-
-
Seller Co-Listing Agent in 2023
Ryan Immel
Pacific Sothebys
(949) 500-5641
1 in this area
37 Total Sales
-
Seller's Agent in 2017
Jon Dishon
Arbor Real Estate
(949) 632-9967
82 Total Sales
-
N
Seller Co-Listing Agent in 2017
Nicole Dishon
Arbor Real Estate
(949) 554-1200
61 Total Sales
-
N
Buyer's Agent in 2017
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
3 in this area
5,797 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC22233646
APN: 047-263-22
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