$2,700,000
SOLD AUG 14, 2024
5 Beds
4 Baths
1,600 Sq Ft
2,378 Sq Ft Lot

Recently Sold

$1,688 Per Sq Ft

7% Below List Price

2 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • Wall Furnace
  • Newport Elementary School Rated A
  • Rectangular Lot
  • 1-Story Property

About This Home

As of August 2024

Coastal Retreat and investment opportunity in Newport Beach! Discover the epitome of coastal living at 122 29th St. nestled in the heart of Newport Beach. Situated just steps away from the pristine sands of Newport Beach, this triplex embodies the quintessential Southern California lifestyle. Enjoy outdoor living at its finest with a private patio, perfect for al fresco dining and entertaining guests amidst the gentle sound of nearby waves. Located in a desirable neighborhood known for its charming atmosphere and proximity to local shops, restaurants, and recreational activities. Convenient access to major highways and nearby airports for easy travel. 122 29th St represents a rare opportunity to own a coastal triplex in one of Newport Beach's most sought-after locations.

Last Agent to Sell the Property

Brandon Hobbs

Arbor Real Estate Brokerage Phone: 949-438-4908 License #01929235 Listed on: 07/18/2024

Co-Listed By

Tamara Farris

Arbor Real Estate Brokerage Phone: 949-438-4908 License #02225549

Last Buyer's Agent

Courtney Hackbarth

Compass License #02080832

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,726

Year Built

  • Built in 1948

Lot Details

  • 2,378 Sq Ft Lot
  • No Common Walls
  • Rectangular Lot
  • Value in Land

Parking

  • 2 Car Garage

Home Design

  • Triplex

Interior Spaces

  • 1,600 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Utilities

  • Wall Furnace

Listing and Financial Details

  • Legal Lot and Block 16 / 28
  • Tax Tract Number 512
  • Assessor Parcel Number 04709104

Community Details

Overview

  • No Home Owners Association
  • 3 Units
  • Balboa Peninsula Subdivision

Building Details

  • 2 Leased Units
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Gross Income $37,200
  • Net Operating Income $34,700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,726

Year Built

Built in 1948

Lot Details

0

Parking

2

Listing Details

  • Price Per Unit: 965000
  • Property Attached: No
  • Subdivision Name Other: Balboa Peninsula (Residential) (BALP)
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 04709104
  • Year Built: 1948
  • Special Features: None

Interior Features

  • Stories: 1
  • Entry Location: Main
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: One, Two
  • Price Per Square Foot: 1687.50

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot, Value In Land
  • Lot Size Sq Ft: 2378.00
  • Lot Size Acres: 0.0546
  • Latitude Manual: 33.61279200

Multi Family

  • Average2 Bed Area: 635 Square Feet
  • Average Studio Area: 330 Square Feet
  • Gross Income: 37200.00
  • Gross Scheduled Income: 37200.00
  • Lot Size Area: 2378.0000 Square Feet
  • Net Operating Income: 34700.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
  • Operating Expense: 2500.00
  • Rent Control: No
  • Total Actual Rent: 3100.00

Tax Info

  • Tax Block: 28
  • Tax Census Tract: 635.00
  • Tax Lot: 16
  • Tax Tract Number: 512

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 18, 2024
Closed on
Jul 31, 2024
Sold by
Esther Roberta Stimpson Trust and Stimpson David Mark
Bought by
One Twenty-Two Holdings Llc
Seller's Agent
Brandon Hobbs
Arbor Real Estate
Buyer's Agent
Courtney Hackbarth
Compass
List Price
$2,895,000
Sold Price
$2,700,000
Premium/Discount to List
-$195,000
-6.74%
Views
5
Current Estimated Value
$2,793,882

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$93,882
Avg. Annual Appreciation
0.74%
Original Mortgage
$2,010,000
Interest Rate
6.95%
Mortgage Type
Construction

Purchase Details

Closed on
Dec 7, 2022
Sold by
Stimpson E Roberta
Bought by
Esther Roberta Stimpson Trust
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $2,700,000 Atlas Title
Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $4,237,594 Construction
Closed $2,010,000 Construction
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/14/2024 08/14/24 Sold $2,700,000 -6.7% $1,688 / Sq Ft
07/21/2024 07/21/24 Pending -- -- --
07/18/2024 07/18/24 For Sale $2,895,000 +7.2% $1,809 / Sq Ft
07/18/2024 07/18/24 Off Market $2,700,000 -- --
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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
2024 $1,726 $112,589 $74,428 $38,161
2023 $1,680 $110,382 $72,969 $37,413
2022 $1,646 $108,218 $71,538 $36,680
2021 $1,618 $106,097 $70,136 $35,961
2020 $1,601 $105,010 $69,417 $35,593
2019 $1,578 $102,951 $68,055 $34,896
2018 $1,551 $100,933 $66,721 $34,212
2017 $1,525 $98,954 $65,412 $33,542
2016 $1,496 $97,014 $64,129 $32,885
2015 $1,479 $95,557 $63,165 $32,392
2014 $1,446 $93,686 $61,928 $31,758
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC24147571

California Regional Multiple Listing Service (CRMLS)

APN: 047-091-04