$1,350,000
SOLD APR 28, 2015
5 Beds
4 Baths
2,656 Sq Ft
3,049 Sq Ft Lot

Recently Sold

$508 Per Sq Ft

13% Below List Price

35 Days on Market

Highlights

  • White Water Ocean Views
  • No HOA
  • Central Heating
  • Newport Elementary School Rated A
  • Laundry Room
  • 1-minute walk to Channel Place Park

About This Home

As of June 2016

Spacious (2600+ Sq. Ft) duplex for sale on the Balboa Peninsula just steps to the sand and right in the heart of all that is happening in Newport Beach. This property features two units, front and back in a townhome style layout. The front unit features 3 bedrooms all with their own bathrooms as well as a 1/2 bath on the first level, totaling 3 bedroom 3.5 baths in a roughly 2000 sq ft layout. This front unit has a downstairs patio, and an ocean view patio off the master. The rear unit features 2 bedrooms and 1 bath, with two patios off the middle and top levels. Both units share a 4 car garage with a shared washer/dryer. Both units are currently occupied and gross $5400 per month in long term rents. There are many opportunities to renovate this property or keep it the way it is and collect on the current income.

Last Agent to Sell the Property

Justin Reynolds

D E Properties License #01506837 Listed on: 02/24/2015

Last Buyer's Agent

Mark Iroha

Prophet 5 Inc License #01974039

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1983

Lot Details

  • 3,049 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 4 Car Garage

Property Views

  • White Water Ocean
  • Coastline
  • Catalina

Interior Spaces

  • 2,656 Sq Ft Home
  • Living Room with Fireplace

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Additional Features

  • Exterior Lighting
  • Central Heating

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 2 / 143
  • Tax Tract Number 164
  • Assessor Parcel Number 42329505

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $750
  • Trash Expense $200
  • Water Sewer Expense $1,300
  • New Taxes Expense $17,050
  • Gross Income $5,400
  • Net Operating Income $63,300

Property Details

Home Type

Multi-Family

Year Built

Built in 1983

Lot Details

0

Parking

4

Listing Details

  • CapRate: 4.20
  • Property Attached: No
  • View: Yes
  • Water Sewer Expenses: 1300.00
  • Property Type: Residential Income
  • Parcel Number: 42329505
  • Year Built: 1983
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: No Common Walls
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 508.28

Exterior Features

  • View: Catalina, Coastline, Ocean, Water, White Water
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 4.00

Utilities

  • Utilities: Sewer Available
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: In Garage
  • Trash Expense: 200.00
  • Water Source: Public

Condo/Co-op/Association

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

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 3049.00
  • Lot Size Acres: 0.0700

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 5400.00
  • Gross Multiplier: 23.91
  • Gross Scheduled Income: 64800.00
  • Insurance Expense: 750.00
  • Lot Size Area: 3049.0000 Square Feet
  • Net Operating Income: 63300.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Patio: 2
  • Number With Range: 2
  • Operating Expense: 1500.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 17050.00
  • Tax Block: 143
  • Tax Lot: 2
  • Tax Tract Number: 164
  • Tax Year: 2014

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/13/2016 06/13/16 Sold $1,995,000 -4.8% $725 / Sq Ft
04/28/2016 04/28/16 Pending -- -- --
04/25/2016 04/25/16 For Sale $2,095,000 +55.2% $762 / Sq Ft
04/28/2015 04/28/15 Sold $1,350,000 -12.9% $508 / Sq Ft
03/31/2015 03/31/15 Pending -- -- --
02/24/2015 02/24/15 For Sale $1,550,000 -- $584 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP15039053

California Regional Multiple Listing Service (CRMLS)

APN: 423-295-05