NOT LISTED FOR SALE

1212 W Balboa Blvd Newport Beach, CA 92661

Central Newport Beach Neighborhood
5 Beds
4 Baths
2,412 Sq Ft
3,049 Sq Ft Lot

Last Sold September 06, 2022

Last sale price $2,500,000 $1,036 Per Sq Ft

28 Days on Market

Highlights

  • Laundry Room
  • Level Lot
  • 4-minute walk to Newport Beach Playground
  • Newport Elementary School Rated A

About This Home

As of September 2022

1212 West Balboa Boulevard is a 3-unit multifamily investment property located on the affluent and highly desirable Balboa Peninsula, one of the premier coastal housing markets in Southern California. Built in 1948 and 1961, 1212 West Balboa Boulevard offers an excellent mix of 1, one-bedroom unit and 2, two-bedroom units. The property features community amenities including 2 single-car garages, 1 surface parking space, and on-site laundry as well as unit amenities including recessed lighting and ceiling fans. All three units were last renovated between 2009 and 2013 and through a unit modernization plan a new owner could achieve substantial rental upside. 1212 West Balboa Boulevard is situated in Newport Beach, just steps from world famous beaches, Newport Elementary School, and the Marina Park Community Center. The property is also located just a short drive from the numerous boutiques, high-end restaurants, and popular entertainment destinations spread across the peninsula.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 07/18/2022

Last Buyer's Agent

Baylee Leavitt

Seven Eight Realty License #02098105

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1948

Lot Details

  • 3,049 Sq Ft Lot
  • No Common Walls
  • Level Lot

Parking

  • 1 Open Parking Space
  • 2 Car Garage

Interior Spaces

  • 2,412 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 4 / 112
  • Tax Tract Number 234
  • Assessor Parcel Number 04723413
  • $507 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 3 Units

Amenities

  • Laundry Facilities

Building Details

  • 3 Leased Units
  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Fuel Expense $628
  • Insurance Expense $1,500
  • Maintenance Expense $2,100
  • Other Expense $2,427
  • Water Sewer Expense $628
  • New Taxes Expense $29,460
  • Operating Expense $36,742
  • Gross Income $90,600
  • Net Operating Income $51,158

Property Details

Home Type

Apartment

Year Built

Built in 1948

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Price Per Unit: 933333
  • Property Attached: No
  • Water Sewer Expenses: 627.50
  • Property Type: Residential Income
  • Parcel Number: 04723413
  • Year Built: 1948
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: No Common Walls
  • Levels: One, Two
  • Price Per Square Foot: 1036.48

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 3.00
  • Uncovered Spaces: 1.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 3049.20
  • Lot Size Acres: 0.0700

Multi Family

  • Fuel Expense: 627.50
  • Gross Income: 90600.00
  • Gross Operating Income: 87900.00
  • Gross Scheduled Income: 90000.00
  • Insurance Expense: 1500.00
  • Laundry Income: 600.00
  • Lot Size Area: 0.0700 Acres
  • Maintenance Expense: 2100.00
  • Net Operating Income: 51158.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 36742.00
  • Other Expense: 2427.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Actual Rent: 7500.00
  • Total Expenses: 36742.00
  • Vacancy Allowance: 2700

Tax Info

  • New Taxes Expense: 29460.00
  • Tax Block: 112
  • Tax Census Tract: 628.00
  • Tax Lot: 4
  • Tax Tract Number: 234
  • TaxOtherAnnualAssessmentAmount: 507.00

Range of Values:

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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
09/06/2022 09/06/22 Sold $2,500,000 -10.7% $1,036 / Sq Ft
08/15/2022 08/15/22 Pending -- -- --
07/18/2022 07/18/22 For Sale $2,800,000 -- $1,161 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tyler Leeson

    Seller's Agent in 2022

    Tyler Leeson

    Marcus & Millichap RE Invest

    (949) 419-3200

    1 in this area

    143 Total Sales

    Section Image
  • Baylee Leavitt

    Buyer's Agent in 2022

    Baylee Leavitt

    Seven Eight Realty

    (949) 400-0943

    5 in this area

    13 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22158036

California Regional Multiple Listing Service (CRMLS)

APN: 047-234-13

California Orange County Newport Beach 92661 Central Newport Beach

1212 W Balboa Blvd, Newport Beach, CA

This home is located at 1212 W Balboa Blvd, Newport Beach, CA 92661 since 18 July 2022. This property was built in 1948. 1212 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.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) 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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