NOT LISTED FOR SALE

414 E Oceanfront Newport Beach, CA 92661

Central Newport Beach Neighborhood
-- Bed
-- Bath
3,001 Sq Ft
3,049 Sq Ft Lot

Last Sold October 09, 2012

Last sale price $2,750,000 $916 Per Sq Ft

55 Days on Market

Highlights

  • Beach Front
  • White Water Ocean Views
  • Ocean Side of Freeway
  • Newport Elementary School Rated A
  • Property has ocean access
  • 5-minute walk to Balboa Peninsula Park

About This Home

As of October 2012

Oceanfront triplex on the Balboa Peninsula with direct beach access. Amazing investment opportunity. Unit A: (Lower front unit)3 bedrooms, 2 bathrooms, sleeps 8-10. $3,400 per week during the summer/$3,400 per month during the remainder of the year. Unit B: (Upper front rear) 2 bedrooms, 2 bathrooms, sleeps 6, one garage spot. $2,800 per week during the summer/$2,800 per month during the remainder of the year. Unit C (Upper rear unit): 2 bedroom, 2 bathroom, sleeps 6, small rooftop deck with ocean views. $2,200 per week during the summer/$2,200 per month during the remainder of the year.

Last Agent to Sell the Property

Tim Smith

Coldwell Banker Realty License #01346878 Listed on: 07/16/2012

Coldwell Banker Realty

Last Buyer's Agent

Albert Hanna

Alt Financial Network Inc License #00926155

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 3,049

Property Views

  • White Water Ocean
  • Coastline

Home Design

  • Brick Exterior Construction
  • Fire Rated Drywall
  • Spanish Tile Roof
  • Clay Roof
  • Stucco

Interior Spaces

  • 3,001 Sq Ft Home
  • Fireplace Features Masonry
  • Tile Countertops

Flooring

  • Wood
  • Carpet
  • Tile

Parking

  • 4 Parking Spaces
  • Parking Lot
  • Assigned Parking

Outdoor Features

  • Property has ocean access
  • Ocean Side of Freeway

Additional Features

  • Beach Front
  • No Heating

Listing and Financial Details

  • Tax Lot 18
  • Tax Tract Number 104
  • Assessor Parcel Number 04812111

Community Details

Overview

  • 3 Units

Building Details

  • Other Expense $14,300
  • Professional Management Expense $22,176
  • Gross Income $15,400
  • Net Operating Income $148,324

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 4.95
  • Professional Management Expense: 22176.00
  • View: Yes
  • Property Type: Residential Income
  • Parcel Number: 04812111
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Tile Counters
  • Flooring: Carpet, Tile, Wood
  • Appliances: No
  • Fireplace Features: Masonry
  • Levels: Two
  • Price Per Square Foot: 916.36

Exterior Features

  • View: Coastline, Ocean, White Water
  • Pool Private: No
  • Roof: Clay, Spanish Tile
  • Spa: No
  • Construction Materials: Brick, Drywall Walls, Stucco

Garage/Parking

  • Parking: No
  • Parking Features: Assigned, Parking Space
  • Total Parking Spaces: 4.00

Utilities

  • Heating: No
  • Laundry: No
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Multi Family

  • Gross Income: 15400.00
  • Gross Multiplier: 16.23
  • Gross Scheduled Income: 184800.00
  • Net Operating Income: 148324.00
  • Number Of Units Total: 3
  • Number With Carpet: 3
  • Operating Expense: 36476.00
  • Other Expense: 14300.00
  • Waterfront Features: Beach Access, Beach Front, Ocean Access, Ocean Side of Freeway

Tax Info

  • Tax Lot: 18
  • Tax Tract Number: 104

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

Property History

Date Event Price List to Sale Price per Sq Ft
10/09/2012 10/09/12 Sold $2,750,000 -8.3% $916 / Sq Ft
09/09/2012 09/09/12 Pending -- -- --
07/16/2012 07/16/12 For Sale $2,999,000 -- $999 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Tim Smith

    Seller's Agent in 2012

    Tim Smith

    Coldwell Banker Realty

    (949) 478-2295

    13 in this area

    677 Total Sales

    Tim Smith
    Section Image
  • Albert Hanna

    Buyer's Agent in 2012

    Albert Hanna

    Alt Financial Network Inc

    (714) 448-0126

    29 Total Sales

    Albert Hanna
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: U12002860

California Regional Multiple Listing Service (CRMLS)

APN: 048-121-11

California Orange County Newport Beach 92661 Central Newport Beach

414 E Oceanfront, Newport Beach, CA

Not Listed for Sale

MultiFamily

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