$1,375,000
SOLD SEP 23, 2014
3 Beds
2 Baths
1,235 Sq Ft
2,614 Sq Ft Lot

Recently Sold

$1,113 Per Sq Ft

14% Below List Price

41 Days on Market

Highlights

  • No HOA
  • Cottage
  • Eat-In Kitchen
  • Abraham Lincoln Elementary School Rated A
  • 2 Car Attached Garage
  • East Facing Home

About This Home

As of April 2016

Just reduced in price. Old Balboa Island Cottage on Balboa Island. It has been in the sellers' family since 1957. Tear it down or rehab it. One of the least expensive offerings currently available on the island. Just one block from downtown so an easy stroll to most anything you could want. Really old and quite "tired" but worth a look! Perfect opportunity to build your own brand new home or use it as-is as a vacation home for your extended family.

Last Agent to Sell the Property

David Prince

Arbor Real Estate License #00580854 Listed on: 09/16/2014

Arbor Real Estate

Last Buyer's Agent

Lyleen Ewing

Coldwell Banker Realty License #00411148

Coldwell Banker Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $45,785

Year Built

  • Built in 1927

Lot Details

  • 2,614 Sq Ft Lot
  • East Facing Home

Parking

  • 2 Car Attached Garage

Home Design

  • Cottage

Interior Spaces

  • 1,235 Sq Ft Home
  • Living Room with Fireplace
  • Eat-In Kitchen

Bedrooms and Bathrooms

  • 3 Bedrooms
  • All Upper Level Bedrooms

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Tax Lot 6
  • Tax Tract Number 102
  • Assessor Parcel Number 05016209

Home Details

Home Type

Single Family

Est. Annual Taxes

$45,785

Year Built

Built in 1927

Lot Details

0

Parking

2

Listing Details

  • Assessments: Yes
  • Property Attached: No
  • Road Surface Type: Paved
  • Subdivision Name Other: Balboa Island - Main Island (BALM)
  • View: No
  • Architectural Style: Cottage
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Parcel Number: 05016209
  • Year Built: 1927
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Living Area: 1235.00
  • Common Walls: No Common Walls
  • Full Bathrooms: 1
  • Full And Three Quarter Bathrooms: 2
  • Three Quarter Bathrooms: 1
  • Total Bedrooms: 3
  • Eating Area: Area
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 1113.36
  • Room Type: All Bedrooms Up

Exterior Features

  • Direction Faces: East
  • Pool Private: No

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Utilities: Sewer Available
  • Water Source: Public

Condo/Co-op/Association

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

Schools

  • School District: Newport Mesa Unified

Lot Info

  • Lot Size Sq Ft: 2614.00
  • Lot Size Acres: 0.0600

Multi Family

  • Lease Considered: No
  • Lot Size Area: 2614.0000 Square Feet
  • Number Of Units In Community: 1
  • Number Of Units Total: 1

Tax Info

  • Tax Lot: 6
  • Tax Tract Number: 102

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 19, 2025
Sold by
Power Trust and First Foundation Bank
Bought by
Power Marital Trust and First Foundation Bank
Total Days on Market
41
Current Estimated Value
$6,126,146

Purchase Details

Listed on
Mar 16, 2016
Closed on
Mar 31, 2016
Sold by
Lippnik Eugene Joseph and Mcgrane Russell George
Bought by
Power Trust I
Seller's Agent
Don Abrams
Abrams Coastal Properties
Buyer's Agent
Mary Pat Earl
Surterre Properties Inc.
List Price
$3,595,000
Sold Price
$3,500,000
Premium/Discount to List
-$95,000
-2.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.34%

Purchase Details

Listed on
Sep 16, 2014
Closed on
Sep 2, 2014
Sold by
Mcgrane Jerri
Bought by
Mcgrane Russell George
Seller's Agent
David Prince
Arbor Real Estate
Buyer's Agent
Lyleen Ewing
Coldwell Banker Realty
List Price
$1,595,000
Sold Price
$1,375,000
Premium/Discount to List
-$220,000
-13.79%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
79.97%
Original Mortgage
$1,830,000
Interest Rate
4.1%
Mortgage Type
Construction

Purchase Details

Listed on
Sep 16, 2014
Closed on
Aug 18, 2014
Sold by
Fuehrer Allison J and Laird Leslie E
Bought by
Lippnik Eugene Joseph and Mcgrane Russell George
Seller's Agent
David Prince
Arbor Real Estate
Buyer's Agent
Lyleen Ewing
Coldwell Banker Realty
List Price
$1,595,000
Sold Price
$1,375,000
Premium/Discount to List
-$220,000
-13.79%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,830,000
Interest Rate
4.1%
Mortgage Type
Construction
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
Deed -- None Listed On Document
Grant Deed $3,500,000 Orange Coast Title Co Socal
Interfamily Deed Transfer -- Equity Title
Interfamily Deed Transfer -- Equity Title
Grant Deed $1,375,000 Equity Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $1,830,000 Construction
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/27/2016 04/27/16 Sold $3,500,000 -2.6% $1,408 / Sq Ft
03/26/2016 03/26/16 Pending -- -- --
03/16/2016 03/16/16 For Sale $3,595,000 +161.5% $1,447 / Sq Ft
09/23/2014 09/23/14 Sold $1,375,000 -5.8% $1,113 / Sq Ft
08/04/2014 08/04/14 Pending -- -- --
07/22/2014 07/22/14 Price Changed $1,459,000 -8.5% $1,181 / Sq Ft
06/24/2014 06/24/14 For Sale $1,595,000 -- $1,291 / 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 $45,785 $4,062,049 $3,069,245 $992,804
2023 $44,686 $3,982,401 $3,009,063 $973,338
2022 $41,433 $3,904,315 $2,950,062 $954,253
2021 $40,637 $3,827,760 $2,892,217 $935,543
2020 $40,248 $3,788,512 $2,862,561 $925,951
2019 $39,409 $3,714,228 $2,806,432 $907,796
2018 $38,621 $3,641,400 $2,751,403 $889,997
2017 $37,937 $3,570,000 $2,697,453 $872,547
2016 $21,297 $1,996,006 $1,357,461 $638,545
2015 $14,857 $1,375,000 $1,337,071 $37,929
2014 $2,053 $163,462 $144,196 $19,266
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP14133807

California Regional Multiple Listing Service (CRMLS)

APN: 050-162-09