NOT LISTED FOR SALE
5 Beds
4 Baths
5,206 Sq Ft
9,760 Sq Ft Lot

Last Sold October 30, 2013

Last sale price $2,250,000 $432 Per Sq Ft

155 Days on Market

Highlights

  • Private Pool
  • Eastbluff Elementary School Rated A
  • 0.22 Acre Lot

About This Home

As of October 2013

The Bluffs Bungalows is a beautiful and unique six-unit apartment building located in a highly desirable neighborhood in the heart of Newport Beach, California. The property is within walking distance of Corona Del Mar High School. The school will undergo construction this summer as the State just approved construction for the Corona del Mar Middle School enclave project. The subject property is also within a mile of the prestigious Big Canyon Country Club home to a beautiful golf course and tennis courts. Newport Beach Country Club lies a mere mile from The Bluffs Bungalows. Access to upscale dining and shopping is another of the many benefits The Bluffs Bungalows offers as Fashion Island is within walking distance. The complex sits on approximately a 9,760-square foot parcel of land and features two, two-bedroom/two-bathroom units, two, two-bedroom/one-bathroom units and two, one-bedroom/one-bathroom units. All two-bedroom apartments possess fireplaces for the tenants to enjoy. The property was built in 1965, and completely renovated in 2010 adding significant value to the already highly desired real estate.

Last Agent to Sell the Property

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 08/12/2013

Last Buyer's Agent

Tyler Leeson

Marcus & Millichap RE Invest License #01451551 Listed on: 08/12/2013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 9,760 Sq Ft Lot
  • 1 Common Wall
  • Density is 16-20 Units/Acre

Parking

  • 12 Parking Spaces

Home Design

  • 5,206 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Private Pool
  • Exterior Lighting

Additional Features

  • Suburban Location
  • Conventional Septic

Listing and Financial Details

  • Tax Lot 11
  • Tax Tract Number 5425
  • Assessor Parcel Number 44010101

Community Details

Overview

  • 6 Units

Recreation

  • Community Pool

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Electric Expense $1,500
  • Insurance Expense $1,500
  • Maintenance Expense $3,000
  • Trash Expense $1,200
  • Water Sewer Expense $1,000
  • New Taxes Expense $28,307
  • Gross Income $10,485
  • Net Operating Income $80,884

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • CapRate: 3.11
  • Property Attached: Yes
  • Water Sewer Expenses: 1000.00
  • Property Type: Residential Income
  • Parcel Number: 44010101
  • Year Built: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 432.19

Exterior Features

  • Pool Features: Association
  • Pool Private: Yes

Garage/Parking

  • Total Parking Spaces: 12.00

Utilities

  • Sewer: Conventional Septic
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Street Lights, Suburban

Lot Info

  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 9760.00
  • Lot Size Acres: 0.2240

Multi Family

  • Electric Expense: 1500.00
  • Gross Income: 10485.00
  • Gross Scheduled Income: 125820.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 9760.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 80884.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 41197.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 28307.00
  • Tax Lot: 11
  • Tax Tract Number: 5425

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
10/30/2013 10/30/13 Sold $2,250,000 -13.5% $432 / Sq Ft
09/17/2013 09/17/13 Pending -- -- --
04/15/2013 04/15/13 For Sale $2,600,000 -- $499 / Sq Ft
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: OC13077518

California Regional Multiple Listing Service (CRMLS)