NOT LISTED FOR SALE
6 Beds
5 Baths
2,458 Sq Ft
2,178 Sq Ft Lot

Last Sold May 23, 2022

Last sale price $3,300,000 $1,343 Per Sq Ft

14 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Laundry Room
  • Level Lot
  • Newport Elementary School Rated A
  • Bike Trail

About This Home

As of May 2022

You've hit the jackpot with this rare, highly sought-after, and amazingly valued investment prospect in Newport Beach! Take advantage of the multifold income from owning a triplex, with the 3-bed, 3-bath, and the 2-bed, 1-bath presenting individual living rooms and kitchens. Discover beautifully designed interiors bathed in abundant sunlight and private retreats with mirrored closets and ceiling fans. Granite countertops and elegant tile work adorn some baths, along with frosted glass-enclosed showers. An adjoining door connects the second residence to the last 1-bed, 1-bath unit, which offers an option to expand into a 4-bedroom, 4-bath home whenever potential clients request a larger living space. 
Adding further appeal to this multi-unit property is its 2 single garages and additional parking space at the back of the lot. For extra convenience, these dwellings come with a shared laundry room. Whenever you're not spending leisurely weekends at the beach, check out the restaurants and shopping options near its enviable location that attracts those who desire a laid-back lifestyle all for themselves. Come take advantage of this rare opportunity before someone else does!

Last Agent to Sell the Property

Nancy Cloward

Surterre Properties Inc License #01149171 Listed on: 03/10/2022

Surterre Properties Inc

Last Buyer's Agent

OUT OF AREA OUT

License #09999915

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 2,178 Sq Ft Lot
  • 1 Common Wall
  • Level Lot

Parking

  • 2 Car Garage

Home Design

  • Duplex

Interior Spaces

  • 2,458 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • All Bedrooms Down
  • All Upper Level Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, telephone
  • Legal Lot and Block 24 / 27
  • Tax Tract Number 512
  • Assessor Parcel Number 04709224
  • $507 per year additional tax assessments

Community Details

Overview

  • 3 Units
  • Balboa Peninsula Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • Electric Expense $477
  • Water Sewer Expense $938
  • Operating Expense $1,415
  • Gross Income $90,385
  • Net Operating Income $90,385

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Parking

2

Listing Details

  • Price Per Unit: 1166667
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Subdivision Name Other: Balboa Peninsula (Residential) (BALP)
  • Water Sewer Expenses: 938.33
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 04709224
  • Year Built: 1965
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 1342.55
  • Room Type: All Bedrooms Down, All Bedrooms Up, Kitchen, Laundry

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Biking, Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 2178.00
  • Lot Size Acres: 0.0500

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Telephone

Multi Family

  • Electric Expense: 477.12
  • Gross Income: 90384.50
  • Gross Scheduled Income: 91800.00
  • Lot Size Area: 2178.0000 Square Feet
  • Net Operating Income: 90384.55
  • Number Of Units Total: 3
  • Operating Expense: 1415.45
  • Rent Control: No
  • Total Actual Rent: 91800.00
  • Total Expenses: 1415.45

Tax Info

  • Tax Block: 27
  • Tax Census Tract: 635.00
  • Tax Lot: 24
  • Tax Tract Number: 512
  • 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
05/23/2022 05/23/22 Sold $3,300,000 -5.7% $1,343 / Sq Ft
03/10/2022 03/10/22 For Sale $3,500,000 -- $1,424 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22048179

California Regional Multiple Listing Service (CRMLS)

APN: 047-092-24