NOT LISTED FOR SALE
6 Beds
6 Baths
2,602 Sq Ft
5,371 Sq Ft Lot

Last Sold November 01, 2021

Last sale price $2,150,000 $826 Per Sq Ft

13 Days on Market

Highlights

  • Property is near public transit
  • No HOA
  • Laundry Room
  • Newport Heights Elementary Rated A
  • Side by Side Parking
  • Landscaped

About This Home

As of November 2021

Great opportunity to own a Duplex in Newport Beach. Located in coveted neighborhood of Newport Heights among luxury homes. This property is a rare find. Both units are 3 Bedrooms 2.5 Baths each with 2 Car garages, direct garage access and good size backyard with patio. Interiors were updated 2 and 3 years ago. Laminate Floors, Granite countertops, Dual Paned Windows and Doors. Each unit has a nice size private backyard and patio.Tenants pay gas & electric, owner pays water and trash & insurance. Both tenants are on month to month agreements and are good tenants. If you have interest in building your dream home you can keep the tenants until you are ready to build. Newport Heights community is within walking distance to the Beach, Markets, a multitude of excellent restraurants, bars, Starbucks, Parks & Hoag Hospital. Newport Heights is an exclsive neighborhood within walking or biking to the Pennisula, Lido Island, The Pier, Boating, Surfing, Paddle Boarding, and every restraunt you could dream of. This is a quiet, friendly neighborhood.The property is located close to great schools, including Newport Heights Elementary, Ensign Middle School & Newport Harbor High School. Rents are well below current market rates of approximately $4,500. The interior photos are of one of the units, both units are model matches. In the Newport Heights neighborhood title shows there are only 18 duplexes, 1 triplex & 2 4 Plexes. This is really a rare find. Please view the video to show proximity to the beach, click on the 360 above to see everything Newport Beach has to offer. You can also go to the web site attached for Vimeo
https://vimeo.com/user9072077/review/610469717/61c3ee31c9

Last Agent to Sell the Property

Shariee Dunn

BHHS CA Properties License #00554534 Listed on: 09/21/2021

BHHS CA Properties

Last Buyer's Agent

Hunter Jack

Coldwell Banker Realty License #01879200

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1977

Lot Details

  • 5,371 Sq Ft Lot
  • Lot Dimensions are 50x105
  • 1 Common Wall
  • Landscaped
  • Level Lot
  • Back Yard

Parking

  • 4 Car Garage
  • 4 Open Parking Spaces
  • Parking Available
  • Front Facing Garage
  • Side by Side Parking
  • Two Garage Doors
  • Garage Door Opener
  • Driveway Level
  • Off-Street Parking

Home Design

  • Apartment
  • Entry on the 1st floor
  • Turnkey

Interior Spaces

  • 2,602 Sq Ft Home
  • 1-Story Property
  • Gas Fireplace
  • Living Room with Fireplace
  • Laminate Flooring
  • Laundry Room

Kitchen

  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • All Upper Level Bedrooms
  • 6 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Property is near public transit
  • Suburban Location

Utilities

  • Forced Air Heating and Cooling System
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 7 / 7
  • Tax Tract Number 27
  • Assessor Parcel Number 42528105
  • $609 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • Insurance Expense $1,300
  • Trash Expense $1,200
  • Water Sewer Expense $1,200
  • New Taxes Expense $22,050
  • Operating Expense $25,750
  • Gross Income $84,000
  • Net Operating Income $56,570

Property Details

Home Type

Multi-Family

Year Built

Built in 1977

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 2.69
  • Price Per Unit: 1050000
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Subdivision Name Other: Newport Heights
  • Water Sewer Expenses: 1200.00
  • Property Condition: Turnkey
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 42528105
  • Year Built: 1977
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Entry Location: 1
  • Common Walls: 1 Common Wall
  • Flooring: Laminate
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Living Room, Gas
  • Levels: Two
  • Price Per Square Foot: 826.29
  • Room Type: All Bedrooms Up, Laundry, Living Room, Master Bathroom, Master Bedroom

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Driveway, Concrete, Driveway Level, Garage, Garage Faces Front, Garage - Two Door, Garage Door Opener, Off Street, On Site, Private, Side by Side
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Microwave
  • Heating Type: Forced Air
  • Laundry Features: Individual Room, Inside
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Landscaped, Level with Street, Near Public Transit, Walkstreet
  • Lot Size: 50X105
  • Lot Size Sq Ft: 5371.00
  • Lot Size Acres: 0.1233

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average3 Bed Area: 1301 Square Feet
  • Gross Income: 84000.00
  • Gross Multiplier: 25.00
  • Gross Operating Income: 82320.00
  • Gross Scheduled Income: 84000.00
  • Insurance Expense: 1300.00
  • Lot Size Area: 5371.0000 Square Feet
  • Net Operating Income: 56570.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Patio: 2
  • Number With Range: 2
  • Operating Expense: 25750.00
  • Operating Expense Percent: 32.00
  • Rent Control: No
  • Total Actual Rent: 7000.00
  • Total Expenses: 25750.00
  • Vacancy Allowance: 1680
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 22050.00
  • Tax Block: 7
  • Tax Census Tract: 634.00
  • Tax Lot: 7
  • Tax Tract Number: 27
  • TaxOtherAnnualAssessmentAmount: 609.00

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
11/01/2021 11/01/21 Sold $2,150,000 +2.4% $826 / Sq Ft
09/21/2021 09/21/21 For Sale $2,100,000 0.0% $807 / Sq Ft
11/01/2019 11/01/19 Rented $3,500 0.0% --
10/31/2019 10/31/19 Under Contract -- -- --
08/16/2019 08/16/19 For Rent $3,500 -- --
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: PW21203687

California Regional Multiple Listing Service (CRMLS)