NOT LISTED FOR SALE

Estimated Value: $2,135,000 - $2,845,000

3 Beds
2 Baths
1,493 Sq Ft
$1,611/Sq Ft Est. Value

Last Sold March 20, 2018

Last sale price $1,355,000 $908 Per Sq Ft

Est. 77% increase in value since last sale

Current estimated payment $14,909/month

10 Days on Market

Highlights

  • All Bedrooms Downstairs
  • Peek-A-Boo Views
  • No HOA
  • Newport Elementary School Rated A
  • Private Yard
  • 2 Car Direct Access Garage

About This Home

As of March 2018

LOCATION ....LOCATION ...LOCATION! SO MANY OPTIONS AND POSSIBILITIES WITH THIS PROPERTY, DON'T MISS OUT ON THIS OPPORTUNITY! PRICED TO MOVE!
Located in the heart of the Balboa Peninsula, and just one short block from the beautiful Pacific Ocean. Close to shopping, night time entertainment and the Newport Beach Pier. This is a very rare
find with this end lot location. Not siding to another property opens up so many more options that other lots do not offer. This property has two units and a two car garage. The downstairs
unit being a 2 bed, 1 bath coming in at 947 square feet. This unit has even a peek-a-boo view of the beach from the living room. The upstairs is a studio with one bath, kitchenette and large private sun deck
coming in at 551 square feet. The total square footage of this property is 1,498 with the lot being 2,614 square feet. This property is zoned R2 and the redevelopment
possibilities endless, a large single family residence, duplex or 2 condos like so many others have done. This property will be sold "AS IS"

Last Listed By

Steve Spenker

Coldwell Banker Realty License #01895215 Listed on: 02/12/2018

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,393

Year Built

  • Built in 1959

Lot Details

  • 2,614 Sq Ft Lot
  • No Common Walls
  • Landscaped
  • Level Lot
  • Private Yard
  • Front Yard

Parking

  • 2 Car Direct Access Garage
  • Parking Available
  • Rear-Facing Garage

Home Design

  • Fixer Upper
  • Raised Foundation
  • Composition Roof
  • Plaster
  • Stucco

Interior Spaces

  • 1,493 Sq Ft Home
  • 2-Story Property
  • Drapes & Rods
  • Wood Frame Window
  • Entryway
  • Living Room
  • Peek-A-Boo Views
  • Tile Countertops

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 3 Bedrooms
  • All Bedrooms Down
  • All Upper Level Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Electric Dryer Hookup

Accessible Home Design

  • More Than Two Accessible Exits
  • Accessible Parking

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Natural Gas Connected
  • Gas Water Heater
  • Sewer Assessments
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 18
  • Tax Tract Number 418
  • Assessor Parcel Number 04710110

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Amenities

  • Laundry Facilities

Building Details

  • 1 Leased Unit
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $80
  • Fuel Expense $40
  • Insurance Expense $900
  • Trash Expense $38
  • Water Sewer Expense $50
  • New Taxes Expense $12,790
  • Operating Expense $13,898
  • Gross Income $13,200
  • Net Operating Income $40,102

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,393

Year Built

Built in 1959

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Other Phone Description: Cell
  • Other Phone Number: 714 822 4311
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Alley Paved, Paved
  • Subdivision Name Other: Balboa Peninsula (Residential) (BALP)
  • View: Yes
  • Water Sewer Expenses: 50.00
  • Zoning: R2
  • Property Condition: Fixer
  • Property Type: Residential Income
  • Parcel Number: 04710110
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Tile Counters
  • Stories: 2
  • Entry Location: Ground with steps
  • Common Walls: No Common Walls
  • Flooring: Carpet, Vinyl
  • Accessibility Features: 2+ Access Exits, Parking
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 907.57
  • Room Type: All Bedrooms Down, All Bedrooms Up, Entry, Living Room, Main Floor Bedroom
  • Window Features: Drapes, Wood Frames

Exterior Features

  • Foundation: Raised
  • View: Peek-A-Boo
  • Fence: No
  • Pool Private: No
  • Roof: Composition
  • Construction Materials: Plaster, Stucco

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Direct Garage Access, Garage Faces Rear
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Water Heater
  • Electric: Electricity - On Property
  • Heating Type: Wall Furnace, Natural Gas
  • Laundry Features: Common Area, Electric Dryer Hookup, Inside
  • Sewer: Public Sewer, Sewer Assessments
  • Trash Expense: 38.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Front Yard, Landscaped, Level with Street, Yard
  • Lot Size: 25x104, 25x98
  • Lot Size Sq Ft: 2614.00

Rental Info

  • Tenant Pays: None

Multi Family

  • Average2 Bed Area: 947 Square Feet
  • Average Studio Area: 551 Square Feet
  • Electric Expense: 80.00
  • Fuel Expense: 40.00
  • Gross Income: 13200.00
  • Gross Scheduled Income: 54000.00
  • Insurance Expense: 900.00
  • Net Operating Income: 40102.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 1
  • Number Of Units Total: 2
  • Number With Carpet: 2
  • Number With Drapes: 1
  • Number With Patio: 2
  • Operating Expense: 13898.00
  • Rent Control: No
  • Total Actual Rent: 1100.00
  • Total Expenses: 13898.00

Tax Info

  • New Taxes Expense: 12790.00
  • Tax Census Tract: 635.00
  • Tax Lot: 18
  • Tax Tract Number: 418

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 14, 2019
Sold by
Vantage Homes Llc
Bought by
Pluto Properties Llc
Total Days on Market
10
Current Estimated Value
$2,404,688

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,068,750
Outstanding Balance
$959,099
Interest Rate
4%
Mortgage Type
New Conventional
Estimated Equity
$1,524,092

Purchase Details

Closed on
Jun 8, 2018
Sold by
Vantage Homes Llc
Bought by
Vantage Homes Llc

Purchase Details

Listed on
Feb 12, 2018
Closed on
Feb 28, 2018
Sold by
Hird Susan L
Bought by
Vantage Homes Llc
Seller's Agent
Steve Spenker
Coldwell Banker Realty
Buyer's Agent
Steve Spenker
Coldwell Banker Realty
List Price
$1,279,000
Sold Price
$1,355,000
Premium/Discount to List
$76,000
5.94%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.79%
Original Mortgage
$1,000,000
Interest Rate
4.22%
Mortgage Type
Construction

Purchase Details

Closed on
Mar 4, 2004
Sold by
Bandy Barbara M
Bought by
Bandy Barbara M

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Pluto Properties Llc -- Chicago Title Co Glendale
Vantage Homes Llc -- Fidelity National Title Co
Vantage Homes Llc $1,355,000 Fidelity National Title Co
Bandy Barbara M -- --
Bandy Barbara M -- --
Bandy Wayne E -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pluto Properties Llc $1,068,750
Previous Owner Vantage Homes Llc $1,000,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/20/2018 03/20/18 Sold $1,355,000 +5.9% $908 / Sq Ft
02/22/2018 02/22/18 Pending -- -- --
02/12/2018 02/12/18 For Sale $1,279,000 -- $857 / Sq Ft
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 $17,393 $1,511,525 $1,442,145 $69,380
2023 $17,005 $1,481,888 $1,413,868 $68,020
2022 $16,718 $1,452,832 $1,386,145 $66,687
2021 $16,413 $1,424,346 $1,358,966 $65,380
2020 $16,261 $1,409,742 $1,345,032 $64,710
2019 $15,026 $1,382,100 $1,318,658 $63,442
2018 $1,603 $1,355,000 $1,298,618 $56,382
2017 $1,504 $103,881 $64,865 $39,016
2016 $1,473 $101,845 $63,594 $38,251
2015 $1,455 $100,316 $62,639 $37,677
2014 $1,421 $98,351 $61,412 $36,939
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC18030797

California Regional Multiple Listing Service (CRMLS)

APN: 047-101-10