S
Seller's Agent in 2015
Steven Brombal
Berkadia Real Estate Advisors
6001 Newport Shores Dr Newport Beach, CA 92663
West Newport Beach NeighborhoodEstimated Value: $6,799,292
1
Bed
1
Bath
9,999
Sq Ft
$680/Sq Ft
Est. Value
Highlights
- 0.16 Acre Lot
- Laundry Room
- Wall Furnace
- Newport Elementary School Rated A
- Paved or Partially Paved Lot
- 3-minute walk to West Newport Park
About This Home
As of December 2015Price Reduced. Across PCH from the expansive beaches of Newport. All units are full-sized one bedroom, one bath units; some upstairs units have ocean views with large balconies and others with canal views. One of the units has a nice sized den as well which could be a smaller 2nd bedroom. This property is adjacent to the desirable residential community of Newport Shores and encircled by a canal. The Newport Shores Apartments are just a few hundred yards from the beach and as such, there is strong rental demand. This is one of the few buildings exceeding 2-4 units in the immediate West Newport Beach and peninsula area.
Recent select rent increases 30+%.Rents are very, very low with an immediate attainable upside of almost 20% due to out of area ownership. The property features a private pool, 3 enclosed garages and 10 covered spaces. Many of the interiors have been upgraded and show well. Analysis is market data. Current GSI: $173,640, actual NOI is $99,342. Because rents are way under market the new LTV will be under 50%. Please call Listing Broker for information regarding financing if your Buyer requires debt placement.
Last Agent to Sell the Property
Steven Brombal
Berkadia Real Estate Advisors License #00972129 Listed on: 02/11/2015
Last Buyer's Agent
Steven Brombal
Berkadia Real Estate Advisors License #00972129 Listed on: 02/11/2015
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,137
Year Built
- Built in 1963
Lot Details
- 6,970 Sq Ft Lot
- Two or More Common Walls
- Paved or Partially Paved Lot
- Level Lot
Parking
- 3 Car Garage
- 10 Carport Spaces
Home Design
- 9,999 Sq Ft Home
- Property Attached
- Composition Roof
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Additional Features
- Laundry Room
- Suburban Location
- Wall Furnace
Listing and Financial Details
- Assessor Parcel Number 04511415
Community Details
Building Details
- 14 Separate Electric Meters
- 14 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $3,001
- Maintenance Expense $10,418
- New Taxes Expense $36,744
- Gross Income $17,700
- Net Operating Income $143,369
Additional Features
- 12 Units
- Laundry Facilities
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jun 6, 2017
Sold by
Newport Veterans Housing Lp
Bought by
Newport Veterans Apartments Lp
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,300,000
Outstanding Balance
$2,744,912
Interest Rate
4.02%
Mortgage Type
Construction
Estimated Equity
$4,054,380
Purchase Details
Listed on
Feb 11, 2015
Closed on
Dec 16, 2015
Sold by
Foley Danny P and Foley Athena M
Bought by
Newport Veterans Housing Lp
Seller's Agent
Steven Brombal
Berkadia Real Estate Advisors
Buyer's Agent
Steven Brombal
Berkadia Real Estate Advisors
List Price
$3,650,000
Sold Price
$3,495,000
Premium/Discount to List
-$155,000
-4.25%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.98%
Original Mortgage
$1,997,000
Interest Rate
3.83%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 25, 2012
Sold by
Foley P Stephen
Bought by
Foley Paul Stephen and Foley Kathy
Purchase Details
Closed on
May 23, 2011
Sold by
Foley Danny P
Bought by
Foley Danny P and Foley Athena M
Purchase Details
Closed on
Jul 12, 2007
Sold by
Foley Danny P
Bought by
Foley Danny P and Foley Athena M
Purchase Details
Closed on
Aug 3, 1995
Sold by
L L Turner Corp
Bought by
Foley John J and Foley Norma M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
7.63%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 7, 1995
Sold by
West Elm Investment Co
Bought by
L L Turner Corp
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$420,000
Interest Rate
7.63%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 22, 1994
Sold by
West Elm Investment Co
Bought by
West Elm Investment Co
Purchase Details
Closed on
Sep 9, 1994
Sold by
Gustafson John A and Gustafson Arlene C
Bought by
Gustafson John A and Gustafson Arlene C
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
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Newport Veterans Apartments Lp | -- | Commonwealth Land Title Comp | |
| Newport Veterans Housing Lp | $3,495,000 | Commonwealth Land Title Ins | |
| Foley Paul Stephen | -- | None Available | |
| Foley Danny P | -- | Accommodation | |
| Foley Danny P | -- | None Available | |
| Foley John J | -- | Old Republic Title Company | |
| L L Turner Corp | $756,000 | Old Republic Title Company | |
| West Elm Investment Co | $775,000 | Chicago Title Company | |
| Gustafson John A | $202,470 | Chicago Title Company |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Newport Veterans Apartments Lp | $3,300,000 | |
| Closed | Newport Veterans Housing Lp | $1,997,000 | |
| Previous Owner | Foley John J | $420,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/22/2015 12/22/15 | Sold | $3,495,000 | -4.2% | $350 / Sq Ft |
| 07/02/2015 07/02/15 | Pending | -- | -- | -- |
| 02/11/2015 02/11/15 | For Sale | $3,650,000 | -- | $365 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2025 | $3,137 | $4,137,368 | $3,427,094 | $710,274 |
| 2024 | $3,137 | $4,056,244 | $3,359,896 | $696,348 |
| 2023 | $3,028 | $3,976,710 | $3,294,015 | $682,695 |
| 2022 | $2,935 | $3,898,736 | $3,229,427 | $669,309 |
| 2021 | $2,901 | $3,822,291 | $3,166,105 | $656,186 |
| 2020 | $2,868 | $3,783,099 | $3,133,641 | $649,458 |
| 2019 | $2,868 | $3,708,921 | $3,072,197 | $636,724 |
| 2018 | $41,045 | $3,636,198 | $3,011,958 | $624,240 |
| 2017 | $40,332 | $3,564,900 | $2,952,900 | $612,000 |
| 2016 | $39,449 | $3,495,000 | $2,895,000 | $600,000 |
| 2015 | $13,756 | $1,044,993 | $829,364 | $215,629 |
| 2014 | $13,444 | $1,024,524 | $813,118 | $211,406 |
Source: Public Records
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP15029818
APN: 045-114-15
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